APPLYING FOR FINANCIAL AID: QUALIFICATIONSt. Mark’s admits students without regard to family financial circumstances and considers financial aid in a separate process. Families are encouraged to apply for both at the same time to ensure that the financial aid committee can make decisions in a timely manner. Applicants are urged to return all forms promptly as funds are released on a first-come, first-serve basis.
St. Mark’s expects that all families will make reasonable sacrifices to finance the educations of their children. Financial aid is awarded on the basis of economic need as determined by the School and Student Services of Princeton, N.J.
St. Mark’s subscribes to the Principles of Good Practice as outlined by the National Association of Independent Schools. School and Student Services produces and analyzes a Parent’s Financial Statement form to generate a Report of Family Contribution (RFC) form that indicates the family’s possible contribution to tuition.
Based upon that assessment, awards are given in the form of grants. Recipients of financial aid are expected to meet the same standards of service, school participation, and academic performance as other students.
St. Mark’s uses the RFC from, along with other required information, to determine:
- Whether a family qualifies for aid
- Whether or not an award will be offered to a family
- The amount of such award
APPLYING FOR FINANCIAL AID: THE PROCESS
Step 1: Complete the Parent Financial Statement online at www.nais.org and enter School Code 6731.
Step 2: Submit copies of the following to St. Mark’s Financial Aid Director, Tessy Wassmann:
- Copies of all current W-2 forms
- Signed copy of your family’s most current federal income tax returns (all forms and schedules)
- All additional business expense and income-related tax forms (if applicable)
Step 3 (optional): Letters providing additional financial information are always welcome. All information submitted to St. Mark’s Financial Aid Office is held in the strictest confidence.
In the case of separation or divorce, the assets of all parents are taken into consideration. Both custodial and non-custodial parents must complete a Parent Financial Statement and submit the necessary documentation.
When a parent has remarried, the assets of the step-parent are considered a resource toward household expenses, bearing in mind the responsibilities of the step-parent to his or her own children. Please note that omission of this information may be a determining factor in a financial aid award.
APPLYING FOR FINANCIAL AID: DETERMINING NEED
School and Student Services determines need by using a formula that considers all areas of a family’s financial situation:
- Total income of parents
- Family size
- Medical and dental expenses
- Savings and investments
- Unusual expenses and debts
- Number of children attending tuition-charging schools
APPLYING FOR FINANCIAL AID: NOTIFICATION OF AWARD
When both the admission process and the financial aid application process are completed, the family will receive a letter of acceptance and a financial aid decision letter. If St. Mark’s can provide an award, the provisional award notification letter will detail the amount granted.
St. Mark’s does not discriminate on the basis of race, color, creed, ancestry, sex, or national origin in the administration of its admissions and educational policies financial aid programs, or athletic and other school-administered programs.