Applying for Financial Aid
Families must submit a Parents’ Financial Statement (PFS) and all supplemental materials to School & Student Services (SSS) by the deadlines listed below in order to be eligible for consideration for financial aid. Please be aware that the PFS form is only available online through the SSS website. Application materials received past the following dates will be reviewed on a funds-available basis:
|Parents’ Financial Statement (PFS); returning BUA families||January 15|
|Parents’ Financial Statement (PFS); prospective/new families||January 31|
|2020 W-2 and 1099 forms||January 31|
|2020 income tax returns with all filed schedules and attachments||January 31|
|2021 W-2 and 1099 forms||February 15|
|2021 income tax returns with all filed schedules and attachments||February 15|
Financial Aid Application Instructions
Beginning on September 1, families can go to the SSS Family Portal and click on the ‘Complete Your PFS’ button to initiate an online application for the 2022-2023 academic year. A family will only need to complete one Parents’ Financial Statement (PFS), even if there is more than one child applying for financial aid.
- Each family is assigned a secure username and password so that they can access and edit their PFS in multiple sittings as well as monitor the status of their application and view their Family Report. Going forward, families will use this same account to apply for aid in subsequent years, so please be sure to keep your username and password in a safe and accessible location.
- Be sure to designate Boston University Academy (SSS school code 1761) as a recipient of the PFS.
- In addition to the PFS, BUA requires all families to submit additional tax documents (listed above) as part of the application. Documents may be uploaded electronically from the “Manage Documents” section of the PFS Online or mailed directly to SSS with a Required Documents Cover Sheet (printable from the “My Documents” tab in the upper right corner of your Family Portal).
- A separate PFS is also required if an applicant’s parents are divorced or separated, or if they have never been married. Families will also need to provide additional documentation by February 15 if any of the following scenarios apply:
- If either parent/guardian is or was formerly enrolled in the military, submit Leave and Earning Statements for 2020 and 2021.
- If the student has assets in a trust fund, submit a copy of the Trust Agreement.
- The PFS form and the online application system are only offered in English; however, additional resources including step-by-step workbooks are available in English and Spanish to help families complete a financial aid application. The SSS Family Support Center can also provide assistance by phone or email in English as well as Spanish.
How will I know if I qualify for assistance?
Assessing Need and Applying for Financial Aid
In order to determine eligibility for aid, BUA relies on information provided by School and Student Services (SSS). Based on the financial information submitted, SSS provides an estimated amount that your family can contribute to educational expenses. This estimate considers your family’s income, assets, family size, and expenditures in addition to making allowances for necessities and taxes. Boston University Academy uses the SSS recommendation to make fair and objective financial aid decisions.
Families interested in applying for financial aid should indicate this intent on the Preliminary Application and submit a Parents’ Financial Statement (PFS) to School & Student Services (SSS) by January 31. BUA families who currently receive aid are required to reapply by submitting a PFS by January 15.
For more information about BUA’s financial aid program, please contact Director of Enrollment Management and Institutional Advancement Nastaran Hakimi.
Things to Remember When Applying for Financial Aid
- While Boston University Academy has a commitment to making its education available to all students, our limited financial aid resources mean that families have the final responsibility for meeting the costs.
- Families are encouraged to review the SSS Family Resources page prior to starting an application. In addition to offering tips and tricks for completing an application, the site includes a detailed workbook for completing the Parents’ Financial Statement and helpful instructions for understanding your tax forms.
- Once a PFS has been processed, families can view an individualized Family Report that shows how SSS estimates the amount their family can contribute to educational expenses. The Estimated Family Contribution (EFC) is used as a baseline to help the Financial Aid Committee make fair and objective decisions based on its specific budget restrictions as well as its own policies.
- Due to limited funds, financial aid is not guaranteed to all applicants who qualify.
- All financial aid decisions are made separate from the admission process, although notification of the awards will be given with admission decisions on March 10.
- All applicants for financial aid must hold US citizenship or permanent resident status.
- Families are required to re-apply for financial aid every year. Awards may be adjusted based on significant changes in family circumstances.