Financial Aid
Philosophy and Goals
Applicant Information
Procedures and Deadlines
Separated or Divorced Families
Notification
Financial Aid Calendar
PHILOSOPHY & GOALS
An investment in a student’s education at Laguna Blanca School pays dividends for life, but for many families, paying for such academic excellence is a financial challenge. Consistent with our mission, Laguna Blanca School is committed to providing a quality education to outstanding students who for financial reasons would otherwise be unable to attend the School. In 2008-2009, Laguna awarded approximately $1 million in need-based financial assistance to 20 percent of its students as part of its dedication to enrolling a diverse student body that reflects a broad economic, social, and cultural mix.
Laguna Blanca’s financial aid program is designed to bridge the gap between what a family can contribute (based on a confidential and standardized needs analysis) and what it actually costs to attend the School. Laguna offers financial aid on the basis of the documented financial need of the family and the availability of funds. The School recognizes, however, that the primary responsibility for financing a student’s independent school education rests with his or her family, and that the family must look to all available resources, including grandparents or other family members, in addition to requesting aid from the School.
Parents/guardians who wish to apply for financial aid should complete the form at the back of the application and send it to the Office of Admission and Financial Aid in order to initiate the process.
It is essential to note that the submission of an application for financial aid has no bearing upon the deliberations of the admission committee or the assessment of an applicant’s potential as a Laguna student. Decisions regarding a candidate’s admission to the School and his or her eligibility for financial aid are made independently by the admission and financial aid committees. Acceptances and financial aid awards at Laguna Blanca School are made without regard to race, religion, color, ethnicity, or national origin.
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APPLICANT INFORMATION FOR FINANCIAL AID
In assessing a family’s eligibility for need-based financial assistance, Laguna Blanca uses School and Student Service for Financial Aid (SSS), a division of Educational Testing Service located in Princeton, New Jersey, to provide a standardized need analysis of a family’s financial strength.
Financial aid forms are mailed to current and applicant families in early November and thereafter as requested. It should be noted that financial aid is granted on a yearly basis and families must apply for aid as well as submit the appropriate documentation each year to be considered for continued financial assistance. In addition, the financial aid committee reviews annually the student’s academic, behavioral, and extracurricular contributions.
Families can expect that financial aid award levels will be consistent year-to-year as long as the financial need of the family remains the same, the application deadlines are met, and the financial aid resources of the school remain strong.
Parents/guardians are assured that all information submitted will be kept in strictest confidence and will not be shared with anyone outside of the financial aid committee.
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PROCEDURES AND DEADLINES
Parents/guardians requesting financial assistance must complete and file a Parents’ Financial Statement (PFS) with School and Student Services for Financial Aid by Laguna’s deadline of February 1. It is important that families compete this form with accurate, and preferably final, financial figures for the current tax year. We strongly encourage families to complete this portion of the financial aid process online with SSS.
Once the PFS has been submitted and processed, School and Student Service for Financial Aid generates a report called the Recommended Family Contribution (RFC) that it forwards to the School. The report specifies, based on the family and financial information provided, the amount SSS believes the parents or guardians are capable of contributing to a child’s education at Laguna. Laguna uses this figure as a guideline in granting aid.
In addition to filing with SSS, parents/guardians must submit to Laguna Blanca School their current and previous years’ Federal Tax Returns with all schedules and W-2s attached. Tax returns are due to the School on March 1.
The financial aid committee cannot grant a financial aid award unless all the requested documentation has been submitted. In the case of separated or divorced families, the required information must be submitted and received from both parents or guardians. The School continues to grant financial assistance as long as funds are available. A family jeopardizes its potential to receive aid by neglecting to submit the required information by the stated deadlines.
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SEPARATED OR DIVORCED FAMILIES
Laguna Blanca School endorses the recommended policy of School and Student Service for Financial Aid as part of the National Association of Independent Schools which states that parents/guardians have an obligation to pay for the educational expenses of their children to the extent they are able and that this takes precedence over the school’s responsibility to provide financial assistance. Separation, divorce, or remarriage does not relieve either parent/guardian of this obligation, in spite of legal documents to the contrary.
For this reason, Laguna Blanca School requires financial information from both biological parents or legal guardians. Remarriage of either parent/guardian creates a new family unit with new relationships; therefore, the income, assets, and liabilities of the entire new family unit are considered pertinent to the family’s ability to contribute to the cost of the child’s education.
Both the custodial and non-custodial parents or guardians must comply with the following:
1) Complete and file a Parents’ Financial Statement (PFS) with SSS by February 1
2) Submit to Laguna Blanca School the current and previous years’ Federal Income Tax Returns with all schedules and W-2s attached by March 1.
Waiving of Requirement
Releasing a parent/guardian of his or her obligation to comply with the above requirements will be considered only in the following circumstances:
1) Documented information is provided that states the location of the non-custodial parent/guardian is unknown.
2) Documented information is received that states the non-custodial parent/guardian has provided no support and has had no contact with the family for at least two years.
3) A court has terminated the parental/guardian rights of the non-custodial parent/guardian.
Documentation will be accepted from a doctor, lawyer, minister, or any such person outside the immediate family.
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NOTIFICATION
Award letters are sent along with admission notification letters on March 6 to applicants who have completed the financial aid process by the stated deadlines. Award letters are sent in early April to returning famiies who have completed the financial aid process by the stated deadlines. Letters are sent on a rolling basis thereafter to new and returning families completing the process after the deadlines as long as funds remain available.
Both current and new families have 10 days from notification to accept or decline financial assistance.
FINANCIAL AID CALENDAR
Both current and new parents/guardians whether part of an intact family or separated or divorced must comply with the following deadlines.
February 1
Parent Financial Statement submitted to School and Student Service for Financial Aid, preferably online.
March 1
For new financial aid applicants
Submission of current and previous years’ Federal Income Tax Returns with all schedules and W-2s attached.
March 15
For families currently receiving financial assistance
Submission of current year Federal Income Tax Returns with all schedules and W-2s attached.
Please Note: If any of the due dates fall on a weekend or holiday, the deadline is extended to the next business day following the weekend or holiday.
For additional information and questions relating to financial aid, please contact the Director of Admission and Financial Aid at 805.687.2461.
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