Parents Financial Statement (PFS)
"Parents Financial Statement (PFS)" submitted by SchoolGrantsfor Editorial Team and last updated on Friday 22nd July 2011
It generally pays to submit the Parents Financial Statement (PFS) as part of the admissions process. You may think that your financial situation precludes your child's receiving any financial assistance. The school on the other hand measures your PFS against the others in the pool for that academic year. It will make awards based on that information.
Financial Aid is provided on a need basis only and must be applied for annually. Financial Aid is administered through the Financial Assistance Fund, which provides limited financial assistance to students. In order to determine financial need in as fair and objective a way as possible, your school participates in the School and Student Service for Financial Aid (SSS). The basic instrument used is the Parents Financial Statement (PFS), which must be completed by the parent and filed with SSS along with an application fee to SSS.
Parents or guardians should go to the Admissions Office to request a financial aid packet. The parents should complete the PFS (Parents' Financial Statement) and submit the original PFS plus all requested documents (Federal tax return, W-2s, etc.) to the SSS or Financial Aid Office. Your child will then be entered onto the financial aid list. It should be noted that the financial aid will not be granted until the Federal income tax return is received. Only one PFS is required for multiple children and for those applying to other independent schools. Document requirements differ at all schools.
Submitting a signed PFS gives SSS permission to analyze your financial information. SSS estimates your family's ability to pay school costs based on an analysis of your income, expenses, and family assets. The schools/organizations you indicate are then sent a Report of Family Contribution (RFC) that will be used to determine your family's financial aid package. Your PFS can only be processed for schools that are SSS subscribers. The information you provide will be held in confidence. Only the schools you specifically name will receive your financial information. SSS subscribers are encouraged to keep this information private, allowing access to as few people as possible. Statements and other paper documents in the SSS confidential files will be destroyed one year after receipt.
School and Student Services (SSS by NAIS) is a comprehensive financial aid management service, devoted to helping schools help families. School and Student Services By NAIS is a service of the National Association of Independent Schools. SSS By NAIS is used by more than 2,400 K-12 schools across the country to help them objectively assess a family's ability to pay for a private school education. To make this assessment, SSS offers the Parents’ Financial Statement (PFS), which is the cornerstone of the financial aid application.
You have two options for completing and submitting your PFS (Parents Financial Statement): the traditional manual process or online.
You may also send an email to to request financial aid forms to complete your Parents' Financial Statement (PFS) and mail it to SSS By NAIS. The best (and fastest) way to apply is online at www.sss.nais.org. You may also check the status of documents you mailed, or submit an additional school request
Whats if you want other schools to receive your financial information after submitting the PFS
Additional School Request Form (ASR) may now be made online. If, after submitting the PFS application, you decide that you want other schools to receive your financial information, you must act before the filing deadline. Even if the original PFS application has been submitted using the paper form, you can use the online PFS application to send your PFS to an additional schools.
After logging in, click on the Select Subscriber Schools menu and follow the prompts to select one or more additional schools for your student applicant(s). Click the “Submit PFS Change” link to submit the PFS to the selected schools. There is no charge for these additional requests.