Tuition and Financial Aid

Financial Aid FAQs

List of 14 frequently asked questions.

  • Q. Who may apply for financial aid?

    To be considered for need-based financial aid, a student must be a U.S. citizen or permanent resident and the family must be filing U.S. income taxes.  Families must reapply for financial assistance each year the student is enrolled. Financial aid is reviewed on an annual basis and awards may change depending on a family’s financial situation. If the family does not receive need-based financial aid, they may reapply in subsequent years; however, families should be aware that the financial aid budget is set based upon the school's commitment to fund students already receiving aid at the time of their initial enrollment to Porter's.
  • Q. When and how should we apply for financial aid?

    The financial aid application and required forms are due on January 15. We recommend that you request information on applying for need-based aid at the same time you request application materials or as soon as you think you would like to be considered for financial assistance. Funds are not reserved beyond our initial round of awards. Therefore, it is very important to meet the January 15 deadline. The financial aid application deadline for returning families is March 1. Parents of returning students must reapply for aid each year and awards are made in early May.
  • Q. How is financial aid determined?

    Along with School and Student Services (SSS), Porter’s estimates financial need by reviewing a family’s prior year’s tax return, W2s, and Parents Financial Statement. SSS provides Porter’s with a Report of Family Contribution which is used as a guide, and Porter’s completes an independent calculation for every application. Once a file is calculated, Porter's Financial Aid Committee meets to discuss the family’s data and determines the family contribution and financial aid award. While the financial aid award is recalculated each year with the most recent information, families can expect that financial aid will continue throughout the student's enrollment. The size of the award can vary as the family's financial circumstances and tuition changes change.
  • Q. What if tax information is not available at the time of the application?

    Porter’s requires you to submit tax information from 2015 Federal 1040 taxes, and then estimate your 2016 tax information to complete the PFS form. Initial computations will be completed on your estimated figures. Final action on a family’s financial aid award will not be completed until we receive the entire application, including 2016 1040 tax forms. Initial computations will be adjusted if necessary to reflect the 2016 Federal 1040 information as soon as it is available, but no later than March 1, 2017.
  • Q. Who is responsible for completing the financial aid forms in the case of divorced parents?

    Both parents are responsible for completing financial aid forms. Each parent must complete a Parent Financial Statement and provide their prior year’s tax return and W2s.
  • Q. How is financial aid determined in the case of parents who are divorced or separated?

    Typically, we consider assets and income of both parents prior to making an award. If either parent is remarried, Porter’s considers the financial circumstances of the step-parent as well.
  • Q. Is a business tax return required from parents who own their own business?

    Yes, parents will need to provide their business tax return as well as their personal tax return.
  • Q. When completing the PFS, what happens if I leave a space blank?

    There will be instances when certain questions do not apply to your family's situation. For those instances, it is best to fill in N/A (for not applicable). However, it is very important that sections that request further explanation not be left blank.
  • Q. How do estimates on our PFS affect our financial aid award?

    If an estimate that you have included on the PFS differs significantly from the information you file on your tax return, Porter’s reserves the right to revise the financial aid award.
  • Q. Whom do I contact if I need assistance completing the PFS?

    Please contact the SSS Customer Service Center at (800) 344-8328.
  • Q. Will our award change from one year to the next?

    Families can expect that financial aid will continue throughout the student's enrollment provided that a family continues to qualify with demonstrated need. The size of the award can vary as a family's financial circumstances and tuition changes change.
  • Q. Is financial aid taxable?

    Under the provisions of the Tax Reform Act of 1986, the amount of your financial aid that is in excess of the day student tuition rate is applied toward non-course related expenses and is considered taxable income to the student. Please be sure to contact a tax accountant should this apply to you.
  • Q. When will we be notified if we have received an award?

    Parents of newly admitted students are notified of financial aid and scholarship decisions on March 10. Returning families can expect to receive their award information by early May.
  • Q. If my child enrolls without receiving financial aid, can we apply for aid in future years?

    While the financial aid committee will accept and review your application, the financial aid budget will have been set based on the school's commitment to fund students already receiving financial aid at Porter's. This means there is typically limited (if any) funds available for including additional students in the financial aid budget. It is therefore important that you apply for financial aid at the time of the student's application to Porter's.
Miss Porter's School
60 Main Street   |    Farmington, CT 06032  |   Telephone: 860-409-3500  |  Since 1843