Q: How should a family file for financial aid if the parents are divorced?
A: The Financial Aid Committee will consider the financial resources of both parents. In the case of separated or divorced parents, we require that both parents file SSS forms and send us copies of their most recent W-2s and/or 1099s and taxes.
Q: What considerations does Trinity take in calculating financial aid awards?
A: The School and Student Service (SSS) will provide parents with a report of parents’ financial need. To avoid any confusion, we think it important to state that Trinity is not bound by the SSS analysis. We have an $8,000 contribution per year limit per family for retirement savings, and we add back to gross income other pretax dollar accounts. We also impute the minimum wage for non-working parents in families where the youngest child has completed 6th grade. On the other hand we use a cost of living index to mitigate the unusual expenses associated with living in New York City. Allowances are also made for medical expenses, health insurance, and other non-discretionary demands on families’ income such as childcare when both parents work. Please be as descriptive as possible in referencing expenses particular to your family’s needs.
Q: What are financial aid awards based on?
A: 1) An objective assessment of financial need; 2) money available from the financial aid budget. Although the SSS assessment is not binding on the school, the figures do serve as a guideline aiding the Financial Aid Committee in its determination of awards.
Q: How are late applications considered?
A: Late applications for aid are accepted but are subject to the availability of funds and are processed only after those families whose applications were received on time have been notified.
Q: How are families notified of the financial aid award?
A: Applicants to Trinity will be sent their financial aid decision along with their enrollment contract if they have submitted all required financial documents.
Q: How is financial aid managed with currently-enrolled families?
A: Families of currently-enrolled students who would like to be considered for a financial aid award must apply annually. Families whose circumstances change while their children are enrolled at Trinity are encouraged to be in touch with the Office of Financial Aid.
Q: What are some factors considered in reviewing financial aid applications?
A: Childcare expenses
Current job status of working age adults
Extended family responsibilities
Medical expenses, including the cost of medical insurance
Number of dependents
Number of members of the household
Contributions to employer provided pretax accounts. (Such as retirement accounts, FSAs, HSAs, dependent care, transportation, section 125 and cafeteria plans, etc.)
Q: Do you offer financial assistance at all grade levels?
A: Typically the financial aid awards are disseminated to families applying to our key entry points (KG, Prep for Prep grade 7, and grade 9). However, if there is attrition in any of the non-typical entry points (grades 1-8, 10 and 11) and funds are still available, we will surely include financial awards with offers.