· What if my 1040 form and supporting schedules for calendar year 2009 are not completed?
o You do not need to rush through your 2009 federal tax return in order to apply for aid. It is certainly helpful if the return is available since it presents your most recent financial information. However, if it is not available before the application deadline, fill out the PSAS and CFAA forms using estimated 2009 values. Also include your 2008 form 1040, supporting 2008 schedules, and W-2/1099 form(s) for 2009.
· I am a divorced or separated parent. Does my former partner need to fill out the application?
o Laurence School will consider the assets of both natural parents before making any award and cannot be bound by the assertion that one parent has disclaimed responsibility for educational expenses, unless a court order is in place to such effect. If such a court order exists, a copy must be submitted along with the application. In addition, Laurence will consider the assets of stepparents; however, we understand that the stepparent’s first obligation is to his or her natural children.
· What do I do if I don’t have all of my 2009 W-2s or 1099s?
o Your reported W-2 and 1099 earnings are essential factors in reviewing your application. The most effective way to receive them in a timely fashion is to contact your employer(s) now and confirm that they will be mailed prior to the IRS deadline of January 31. If your employer(s) cannot accommodate this, please contact the school’s Business Office.
· Do I list all of my children on the top section of the CFAA?
o No, only list those children for whom financial aid is requested. Children for whom aid is not requested should be listed at the bottom of page 1.
· In the CFAA form, there are expense columns for each guardian. My household’s expenses cannot be separated that easily between parents / guardians. How should I fill out the form?
o The two-column format is designed to accommodate dual households or separated families. If this is not your case, include all of the expenses in the “Guardian 1” columns and ignore the “Guardian 2” columns.
· What information is sent to the School and/or PSAS?
|
Form Name |
To the School |
To PSAS |
|
CFAA |
ü |
|
|
PSAS Student Aid Form |
|
ü |
|
Copy of all W-2/1099s |
ü |
ü |
|
Copy of Federal Tax Return |
ü |
ü |