Financial Aid at a Glance
Purpose of Financial Aid
Financial Aid enables Oregon Episcopal School to enroll students with promise who would not otherwise have access to an independent school education because of financial constraints. The extension of this aid makes our school more accessible and affordable, thus fostering a more diverse school community.
OES financial aid is need-based. We believe the prime financial responsibility for a child’s education rests with the parents to the full extent that they are able. Grants of aid are based on a family’s ability to meet educational expenses, not willingness or unwillingness to pay.
Grants of financial aid are not intended to cover 100% of the cost of attendance at OES. All families are expected to contribute to the cost of their student’s education. The program assists families in grades K –12, with preference given to students in the middle and upper schools.
What types of financial assistance does OES offer?
Direct Grant – A grant is an award from the school that does not need to be repaid. It is the most common form of tuition aid, and like all financial aid at OES it is based on family need. We do not offer merit scholarships.
Supplemental Aid – Supplemental aid helps families with non-tuition expenses such as books and supplies, class fees, and activities.
How is financial aid determined?
We use the Parents’ Financial Statement designed by the School and Student Service for Financial Aid (SSS) to help us determine your family’s contribution to educational expenses. You complete the financial aid application and mail it to Princeton, New Jersey for initial processing.
The Financial Aid Committee at OES uses the standardized calculation derived by the School and Student Service for Financial Aid (SSS) in Princeton, NJ as an initial guide in allocating your child’s aid. This system considers gross taxable and non-taxable income, assets, liabilities, family size and the number of students in tuition-charging schools or colleges. After an allowance for basic necessities and required taxes, the remaining funds are considered available for education on a sliding scale. The more you earn the greater the expected contribution.
Should I apply for aid?
Few families find it “easy” to pay tuition at OES. Most adjust their spending priorities, maximize both parents’ earnings, and carefully manage assets to do so. We would like to provide guidelines to help you decide whether to apply for aid, but we have found that each family’s combination of circumstances is unique. The most helpful guideline comes from your own knowledge of your family’s finances. Can you find a way to pay the equivalent of $1,500 each month for ten months for your child’s education? If not, you may be a candidate for financial aid.
What will next year’s aid be like?
Each year a family must reapply for financial aid. If the family’s financial circumstances remain the same, the school will make every effort to provide assistance at the same level of aid.
How do I begin the process?
Simply check “yes” in response to the question, “Do you plan to apply for financial aid for your child?” that appears on the back of the application for admission. This will alert us to send you the SSS forms, instructions, and details of the application process. If you subsequently decide NOT to apply for aid, please notify the Financial Aid Office.
What forms must we complete?
The extension of financial aid is dependent upon complete cooperation from the families providing all information required by the school to determine their need for financial aid. The information includes the SSS form mentioned above, W2 forms, federal and state tax returns and all schedules or accompanying documents, property tax statements, financial statements, trust agreements, business tax returns and schedules (also IRS Form 4506), and other documents which might be helpful in fairly determining level of need.
Financial aid may be withheld from families or students who have not been timely in completing the required financial aid forms, paying their account, or who are not meeting acceptable standards of academic performance or behavior, provided however, that students receiving financial aid will not be held to a different behavioral or academic standard than other students who are not receiving financial aid.
When a family is filing their tax return late, they are required to submit by March 1, IRS Form 4868 – Request for Automatic Extension. This form contains an estimate of income and taxes due. Additionally, a complete copy of the 1040 for the year just completed will be required before financial aid is credited to the tuition account, and awards may be revised if final figures differ.
How can I get help if I need it?
If you need help in completing the Parents’ Financial Statement, or with any part of the financial aid process, please call the Financial Aid Director at: 503-416-9325.
What if I have other children applying to or attending other tuition-charging institutions? Must I apply for financial aid from those schools also?
Yes, we assume that a family applying for aid from OES will apply for financial aid from all tuition-charging institutions their other children may be attending. If another school does not have a financial aid program, please note that on your Parents’ Financial Statement. In addition we will ask for verification of the financial aid packages from the other schools.
Only one parent works outside the home. Must both parents be employed to receive financial aid from OES?
In general, yes, if all children in the family are in school. However, if one parent is unable to work, that is not held against them. In cases where there is no clear reason for a parent not working, then the committee will often impute income, so that OES financial aid is not supporting a lifestyle choice, and that family is being treated equitably with a family in which both parents work.
I have decided to go back to school while my child is at OES. Will it affect my financial aid?
We assume that a parent who is enrolled in school will continue to earn income and has arranged to fund his or her education without depending heavily on family resources.
I am divorced, or no longer living with my child’s other parent. Will OES still expect that person to be part of my application for financial aid?
Yes. We require that both parents complete a financial statement to provide a realistic picture of family resources, and will request mailing information from you for the other parent if it does not appear on the application for admission. We are also aware that circumstances differ widely among separated or divorced parents and urge you to contact the Financial Aid Office if such information cannot be provided.
I may remarry or establish a permanent relationship with another adult. Will that person’s financial circumstances be considered in the financial aid allocation for my child?
Yes, the addition of another adult into a household generally changes its financial picture to a considerable extent. In the school’s view your resources and expenses, including those for education, become family resources and expenses, just as those of your new partner become part of the family financial picture. We will ask you to complete the Parents’ Financial Statement together, providing information pertinent to the new family unit and appropriate tax documentation, realizing at the same time that change of this sort can be emotionally difficult and require a period of adjustment.
What if my student must withdraw from school?
In the event of student withdrawal, financial aid recipients are required to pay the balance of that amount by which tuition exceeded their financial aid award. We recommend that tuition insurance be purchased to provide coverage for this contingency.
What is the process for paying the remaining tuition balance?
Families of students receiving financial aid may choose to pay their portion of tuition in ten interest-free payments beginning August 1st, then monthly for an additional nine months.
Financial Aid Award Recalculation
If a family is awarded financial aid based on multiple siblings attending OES or other tuition charging institutions and one or more of the siblings enrolls elsewhere, the family contribution of financial support must be recalculated based on these changed circumstances.
Also, if the Financial Aid Committee becomes aware of information that suggests that the family’s ability to contribute to educational costs may be at a different level than previously determined, then the award will be re-evaluated. This re-evaluation may occur at any time throughout the year, before or after the granting of an award. Should it be determined, at any time, that a family or applicant knowingly did not disclose significant income or assets, and that this failure to disclose resulted in a larger award of financial aid, then the award and the enrollment will be reviewed and decisions re-evaluated.
Is it true that a family of 4 must earn less than $150,000 to qualify for financial aid?
No, it depends on many factors, notably how many tuitions/childcare costs are being supported and what other aspects there are to the family. For a single tuition, a 15 percent guideline has worked in the past (take 15 percent of gross income and compare to tuition— if 15 percent is lower, then apply for financial aid). If a family earns over $150,000, it is unlikely they will qualify for more than a small award, if at all.
What is the least amount of aid a family receives and what is the most?
We have families getting as little as a few hundred dollars in aid, to some receiving over $20,000 (most of these are boarding families). Being on financial aid, even at a low level, opens access to interest-free payments over 10 months, which can be very helpful to cash-flow related issues.
Financial Aid Timetable
End of December
Financial Aid applications mailed to applicants
Mid-February
SSS Financial Aid forms due to Princeton, New Jersey from applicant
Late February/Early March
Signed copies of state and federal tax returns including all schedules, and signed IRS Form 4506 due in Admissions Office; W2’s and 1099’s due
Mid-April
Notification of financial aid awards mailed to families
Late April
Financial aid acceptance letters due back to Admissions Office
Confidentiality Statement
OES will treat as confidential all financial information provided by families. Only those persons directly involved in the financial aid decision-making process or in its administration will review this information. The identity of all students on financial aid will be held in confidence and restricted to the smallest number of persons possible.
