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Financial Assistance

Nansemond-Suffolk Academy’s Financial Aid Program

Nansemond-Suffolk Academy is an independent school organized under the state of Virginia as a 501(c)(3) not-for-profit corporation. In order to remain independent, all financing is achieved through tuition, fees, donations and special events as opposed to receiving public monies or religious subsidies.

 

Nansemond-Suffolk Academy believes it is the primary responsibility of families to finance educational costs. The school recognizes, however, with the rising cost of tuition, there are families who will require assistance. In order to address this need for assistance, the school sets aside funds annually, as determined by the Board of Trustees, in the form of Financial Aid awards.

 

Financial aid awards are grants that Nansemond-Suffolk Academy provides to families to reduce the cost of tuition. They are awarded solely on the basis of need. Need is defined as the difference between the tuition rate for a student and the family’s ability to pay that rate.

 

In order to determine a family’s ability to pay, the school uses an independent service – School and Student Service for Financial Aid (SSS) created by the National Association of Independent Schools. More than 2,400 schools subscribe to SSS for objective, third party financial needs assessment. 

 

NSA requires families to complete the on-line application process with SSS 

 

Important dates:

        Affordability Seminar:  January 16, 2014 - 6:30 p.m. - Lower School Library

March 1, 2014 NSA deadline for submitting the PFS online

April 15, 2014  Deadline for copy of 2012 tax returns for both parents/guardians 

Individual financial aid awards will be made when the school has received the following:

  • “Report of Family Contribution” – per student – from SSS
  • Copy of 2013 tax returns for both parents/guardians of student for whom financial aid is applied
  • Any additional documents requested by the school to verify asset ownership, court mandated support, etc.

Here is a general guide to completing the Financial Aid Process:

 

  1. Go to sss.nais.org to begin completing your Parents Financial Statement (PFS) Online. The fee to apply online is $41.00.
  1. On the PFS, indicate that Nansemond-Suffolk Academy should receive your information. The school code is 5263.
  1. The PFS collects information such as family size, total income, savings, investments, indebtedness, medical and dental expenses, any unusual expenses and other assets. 
  1. Step-by-step instructions are offered along the way, as well as a toll-free help line (800) 344-8328 or email sss@nais.org.
  1. Submit your PFS online. Be sure to submit it in time to meet the school’s deadline of March 1, 2014.
  1. School and Student Service for Financial Aid (SSS) analyzes the information on the PFS to estimate your family’s ability to contribute to educational expenses.

[School and Student Service for Financial Aid (SSS) is a service provided by the National Association for Independent Schools. SSS provides an objective and consistent method of determining a family’s ability to contribute to educational expenses.]

 

  1. The school will receive a “Report of Family Contribution” from SSS in as little as 48 hours after the PFS is submitted online. You may also request that SSS send you its evaluation of your PFS.
  1. The school will require copies of your 2013 tax returns as well as other documents, which may be necessary to verify asset ownership, court mandated support, etc.
  1. The school uses the results, and other required information, to make its final financial aid award decision.  An award will not be made until the school has received all required documentation. 
  1. Financial Aid award letters are mailed to families immediately following authorization from the Financial Aid Committee.

Please call (757) 539-8789 ext. 3414 for further information.


The school recognizes your decision to enroll your child in Nansemond-Suffolk Academy as an investment in his/her future.  We take our role seriously as stewards of your investment and look forward to partnering with each family to achieve your child’s educational goals.

 

 

 

 


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