Financial Aid FAQs

Financial Aid FAQs

Below you’ll find frequently asked questions about the financial aid process at Nobles. If you don’t find the answers you’re looking for, please contact Stephanie Boulay, Director of Financial Aid at Stephanie_boulay@nobles.edu.

Are there any merit awards available at Nobles?

No, Nobles does not offer any merit awards. All financial aid award calculations are based on a family’s demonstrated need. Since financial aid is granted annually, families must reapply each academic year.

How does Nobles determine financial aid awards?

Information from the Parents’ Financial Statement generates an estimated amount your family can contribute to educational expenses. We use this estimate as a starting point to help us make fair and objective financial aid decisions. Home ownership, family size, the number of children at tuition-charging schools, regional cost of living adjustments and other factors are considered in the evaluation of a family’s ability to pay.

How do I apply for financial aid and is there a fee?

In order to apply for financial aid, you must create an account in SSS by Community Brands. The Parents’ Financial Statement (PFS) is available on October 1 and must be completed and submitted by January 15, 2021 so that your family can be considered for financial aid for the 2021-22 school year. You can begin to complete the form, log out and resume later. If you have more than one child applying for financial aid and/or you are applying to more than one school, you only need to complete and submit one PFS. There is a one-time nonrefundable fee of $55. To complete the process of applying for financial aid, families must return to SSS to upload their completed 2020 tax return (1040 form with all related schedules) and W2 documents by March 1, 2021. Financial aid award letters are mailed with admission decisions to newly accepted families on March 10. Current financial aid families that are returning to Nobles will receive their award letter in early May.

To get started, we recommend downloading and reading the SSS Instruction Booklet (in English or in Spanish).

If our family is eligible, how much financial aid is awarded and what does it cover?

Financial aid awards will vary based on your family’s demonstrated need. Nobles is committed to fulfilling 100% of each family’s demonstrated need. Awards can range from $1,000 up through the entire cost of tuition and additional expenses. The average direct grant is $40,625. The tuition total that families are asked to pay can be spread out over up to ten months.

When determining a financial assistance award, Nobles considers the total cost of attendance. In addition to financial aid for tuition, Nobles gives an additional $1,000 in aid to all award recipients to help cover other fees which can include textbooks, athletic equipment, field trips, school social events, etc. Financial aid is also given for optional programs such as instrumental lessons.

While awards do vary, we strive to help make an independent school education affordable for all families (including middle-income families who think they might not qualify).

Could I apply for financial aid for my child attending Nobles if I have children attending other tuition-charging schools?

Nobles expects that a family with children attending other tuition-charging schools will also apply for financial aid at those schools. The Financial Aid Committee at Nobles believes that, in general, no consideration of financial assistance should be given to a student whose parents will be paying full charge for siblings at other institutions. As a rule, Nobles will expect proof of enrollment for other children in tuition-charging schools from financial aid recipients.

How do I fill out the Parents’ Financial Statement (PFS) if I have my own business?

Parents who own their own business or who have a partnership are required to submit copies of their 2020 federal 1065 or 1120 business tax forms along with any K-1 forms.

Do both parents complete a Parents’ Financial Statement (PFS) even if they are separated, divorced or were never married?

Yes, Nobles requires that each parent complete a PFS by January 15. Both parents are also required to submit additional documentation by March 1 including their most recent tax return with all related schedules and W-2 forms. Parents can be assured that all financial information received from one parent will not be shared with the other.

Do I have to reapply for assistance each year?

Yes, each student’s need is recalculated annually. Therefore, parents are required to submit a Parents’ Financial Statement (PFS) and current tax information each year.

If our family does not qualify for financial aid, what options do we have regarding tuition payments?

Through the Nobles business office, families can set up payment plans, choosing to either make two payments (in July and November), or spreading out payments over ten months (May to February).

Families who are interested in education loans can contact Your Tuition Solution, a program of Springstone Financial, LLC based in Westborough, Mass., that provides low fixed rates, low monthly payments, no application or origination fees, no prepayment penalties and the opportunity to increase the original amount in future years to keep payments affordable.

How do I proceed as a current family interested in applying for financial aid for the first time?

Current families wishing to apply for financial aid for the first time will need to contact Stephanie Boulay, Director of Financial Aid at Stephanie_boulay@nobles.edu. In order for a returning family to qualify for aid for the first time, there must be evidence of a significant change in financial circumstances from the previous tax year (such as sending another child to a tuition-charging school or loss of employment).