Financial Aid Application & Overview
Each year, HB commits more than $5 million to the tuition assistance program. Students in Kindergarten through 12th grade are eligible to apply for these funds and approximately 40 percent receive financial aid grants.
Financial aid is delivered in the form of grants, ranging from 5-95 percent of tuition.
A committee reviews each case individually and allocates grants based on a family’s demonstrated need using the information provided by the parents and an analysis done by School and Student Services (SSS).
A family’s demonstrated need is defined as the difference between educational expenses and the family’s ability to pay those expenses. To determine this, the Parents' Financial Statement (PFS) is required.
The PFS asks for information such as family size, total income, savings, investments; other assets such as home equity, indebtedness, medical and dental expenses, and any unusual expenses.
Families applying for financial aid also are required to submit copies of their recent tax forms to School and Student Services. These forms, including W2 or 1099 and Federal 1040 forms, are used to verify the information on the PFS.
HB Financial Aid Process
Parents submit applications (Personal Financial Statement) online with School and Student Services by January 24, 2020 for the 2020-2021 school year. SSS school code = 3748
- The allocation of a grant will be included in your enrollment contract on the decision dates listed below.
- Your 2018 required tax documents are due by January 24, 2020; 2019 tax documents are due by May 1, 2020.
- All applications received after the deadlines below will be considered rolling and will be acted upon when complete.
- Because funds are limited, it is to your advantage to complete the application process as soon as possible.
HB Admission Process
For All Grades, Infant & Toddler, Early Childhood and Grades K-12
A complete application for admission and required documents must be submitted by January 24, 2020 to receive a decision on February 14, 2020.
HB Financial Aid Process
- The SSS website opens in October.
- Your 2019 required tax documents are due by May 1, 2020.
- The allocation of a grant will be included in your enrollment contract, if all documents have been submitted, in mid-January 2020. If the PFS and documents have not been submitted and approved a grant will not be accounted for on the enrollment contract.
- Because funds are limited, it is to your advantage to complete the application process no later than the dates listed above.
If you have any questions, please contact the Office of Admission & Financial Aid at 216.320.8767 or firstname.lastname@example.org.
Who should apply?
HB’s financial aid assistance is open to all families. While it is difficult to define a typical financial aid candidate, common threads are income, number of children in a family, and lifestyle choices.
What does a financial aid grant cover?
The grant helps to cover tuition for the current school year and does not need to be paid back to HB. There are additional costs beyond tuition that families are responsible for paying.
If we apply for financial aid, will it affect our daughter’s application for admission?
No. The admission process and financial aid process are separate from each other. To be considered for financial aid a candidate must complete the admission process by the necessary deadlines.
How is the determination of a grant made?
A committee reviews the analysis and information shared with SSS and offers grants to families that demonstrate a need for assistance in paying full tuition. The SSS analysis looks at the entire financial picture for a family; total assets, expenses and debt, filing status, non-working parent, and the number of children in tuition-paying schools.
When will I receive a decision about financial aid?
The decision about financial aid will be included with your offer of enrollment.
Is the financial grant automatically renewed each year?
No. Families must complete the process with SSS each year to demonstrate need for assistance.
What if the parents are separated or divorced?
Both parents must fill out a Parents’ Financial Statement as both parents assets are considered in the analysis. If there is a stepparent the process also takes into account their financial information.
Who has access to my financial information?
Only the assistant director of financial aid sees all of the financial information. Other pertinent information is shared with the committee as needed.
What if I miss the financial aid application deadline?
It is important that all deadlines are met when wanting to be considered for financial assistance as there is a limited budget.