An Aurora education is an investment in your child’s future. We understand that it is also a significant financial commitment. Aurora is committed to making Aurora affordable to as many students as we possibly can.
How is financial aid awarded?
Aurora is a member of School and Student Services by NAIS (SSS), which assists independent schools in determining a family’s financial need. Families submit a Parent’s Financial Statement (PFS) to SSS that contains detailed financial information. From the information provided on this form, SSS uses a standardized calculation nationally accepted by independent schools to compute a family’s estimated tuition contribution. The information is reviewed by the Tuition Assistance Committee at Aurora and is used as a guideline in determining financial aid decisions.
What is Aurora’s school code for the SSS website?
Our school code is 1063.
How exactly is my family’s estimated tuition contribution calculated?
SSS takes into consideration such things as gross taxable income, assets, liabilities, family size, and number of children attending tuition-charging schools. The income and assets for both parents and the students are considered. SSS creates a Family Report for all parents who apply for financial aid. Your Family Report will provide an overview and a calculation of your estimated tuition contribution.
Will applying for financial aid affect my child’s chances of being admitted to Aurora?
No, admissions and financial aid decisions are made separately.
Do we have to reapply for financial aid every year?
Yes. Financial aid awards are based on your family’s estimated tuition contribution and Aurora School’s financial aid budget, both figures change from year to year.
I cannot complete my tax returns in time to meet the financial aid application deadline. What should I do?
Our financial aid deadline is January 20, 2017. We understand your taxes may not be complete so we ask that you estimate your financial information to the best of your ability. Aurora will use the information that you provide to make a preliminary financial aid award decision. We will verify that the information that you provided is correct after reviewing your tax returns. 2016 W-2s are due by February 5, 2017 and all 2016 tax forms are due by February 28, 2017.
Do you take into consideration both parents’ income if we are divorced or do not live together?
Aurora considers all available sources of financial support when making financial aid decisions. Each parent must submit a separate PFS to SSS. If one parent does not complete a PFS, we will not be able to process the financial aid application.
How do you treat our application if one parent does not work?
In order to treat families equally, we try to level the playing field by not taking into account lifestyle decisions. If a family has children over the age of two, we assume that both parents are employed. If one parent chooses not to work, we will assign income based on a full-time lower-wage position to that parent for purposes of calculating the family’s estimated tuition contribution.
I work for myself and my income can vary each year. Does this impact my application?
Decisions for 2017 – 2018 are based on 2016 income, since we cannot predict what will happen next year. You may submit a letter explaining your specific extenuating circumstances to the Aurora Financial Aid Committee.
What if I have children at other tuition charging schools?
Other K‐12 tuition you pay is figured into your family’s estimated tuition contribution. However, in order to receive aid from us you must apply for financial aid at all schools your children attend.
When will I be notified of my award?
Your financial aid award is included with your acceptance notification. The specific amount is listed on your enrollment contract.
Are there payment plans available?
Families at Aurora may choose among three payment options:
- Annual – one payment due by May 1st or the time of enrollment.
- Semi-Annual – two installments are due on May 1 and December 1.
- Monthly – ten installments on the 5th of the month from May through February. There is a 5% carrying fee for this payment plan.
How can I be assured that my information is kept confidential?
Applying for financial aid at Aurora is a private matter between the family and the Aurora Financial Aid Committee. The Committee conducts a comprehensive review of families’ personal financial situation and that review is not discussed with any other person outside of the Committee. In an effort to protect a family’s privacy, we expect all financial aid applicants to exercise discretion during the financial aid process by not discussing their financial aid application or award with other families or faculty. In addition, School and Student Services by NAIS (SSS) prioritize collecting and processing a family’s documents in a safe and efficient manner. When documents are sent to SSS, families submit their information to SSS through a secure server. Additionally, families are now able to track receipt of the documents sent to SSS through a unique password protected account.
If my financial situation changes and I have need for financial aid that I didn’t have before, what do I do?
Complete the Financial Aid Appeal Form and return to our Admissions Director. You will also need to make necessary changes to your Parent Financial Statement on SSS. Once all of this is completed, the Committee will meet and then contact you to let you know if you qualify for more aid and if so, how much.
If I’m receiving financial aid and my financial situation changes for the better, what do I do?
Families who receive financial aid and have positive change of financial status are expected to inform the Aurora Head of School, so that financial aid can be adjusted. This is to ensure equity for all Aurora families. Aurora expects honesty from all of its families.