Financial Aid at HPA
HPA is committed to enrolling the best and brightest students regardless of the family’s financial circumstances. We also believe that the primary responsibility for financing a student’s education lies with the family, including parents, extended family, and other personal resources. Our financial aid program helps to bridge the gap between what our families can afford to pay and the cost of tuition at HPA.
The Parents Financial Statement (PFS – see below) should be completed at the same time as the application for admission. Hawai‘i Preparatory Academy uses the School and Student Services (SSS) by the National Association of Independent Schools (NAIS) as an independent agent to process the financial aid forms and for the calculation of financial need amounts.
A large part of the success of this process depends on you as a parent. Please complete the application accurately, follow the instructions for submitting information, and submit all information by the February 2, 2015 priority deadline to receive consideration for a financial aid award in the first round of decisions in mid-March.
A complete financial aid application for the 2015-2016 academic year includes:
- Parent Financial Statement (PFS – this is your financial aid application form)
- Completed 2013 1040 tax returns with all schedules by the priority deadline of February 2, 2015.
- Completed 2014 1040 tax returns with all schedules by April 15, 2015 to verify the application and finalize the financial aid award.
- IRS 1098-T (Tuition Statement) form, if applicable
Step 1 - Parent Financial Statement (PFS)
- Submit the PFS by late January 2015 to ensure that you’ll be in a good position to successfully submit your tax documents by the February 2, 2015 priority deadline.
- To complete the application, go to sss.nais.org.
- The online application fee is $42.
- When a student with divorced parents applies for financial aid, the households associated with each natural parent must apply, and each household must complete separate applications.
- Check the status of your application on the SSS website after you have submitted the PFS. Within 24 hours of submitting the PFS, you will find a new link (“Manage Documents” tab) that will allow you to upload your tax documents and confirm if the application is complete or if any pieces are missing. HPA does not follow up with any incomplete financial aid applications and does not verify receipt of documents, so please be careful in uploading and vigilant in ensuring receipt by SSS. Send all questions regarding the completion of your application to SSS.
Step 2 - Completed 1040 tax returns with ALL schedules included
- Upload your 2013 1040 tax returns by the February 2, 2015 priority deadline to be considered in the first round of financial aid decisions in mid-March. The HPA Financial Aid Committee will review the file and make a financial aid decision. NOTE: Returning HPA families who submitted their 2013 1040s and all schedules for the 2014-2015 academic year will not need to upload their tax return again. If a family experienced a significant financial change between 2013 and 2014, please be sure to provide an explanation in the PFS text boxes so the financial aid committee can understand the changes when reviewing the file.
- Upload your 2014 1040 tax returns and all schedules by April 15, 2015. SSS will verify the information from the 2014 tax return with the information you provided on your PFS. After that verification process, the HPA Financial Aid Committee will review your file again. If the information on your 2014 1040 and all schedules is significantly different than the information you provided on the PFS, the HPA Financial Aid Committee reserves the right to adjust the financial aid award accordingly. Please be as accurate as possible when completing your PFS.
- The HPA Financial Aid Committee will consider applications once the tax returns have been submitted to SSS, and the application has been verified against the returns.
- Upload the tax forms to SSS as directed on their website. Tax returns should be a copy of the federal return and all schedules sent to the IRS.
- If you are unable to complete your return by the priority deadline because of K-1 forms you have yet to receive, please create an estimated tax return as if you had already received your K-1; then, upload the estimated return to SSS by the priority deadline.
1098-T, If Applicable
If you have a child attending an institution of higher learning (community college, university, graduate program, etc.) and you are helping pay his/her tuition, you must submit the 1098-T Tuition Statement, sent to you directly from the institution. The 1098-T verifies the amount of tuition paid. Upload this form to SSS with your application ID.
Financial aid applications received after the priority deadline will be considered on a rolling basis. Rolling financial aid decisions will begin in April and continue through the summer, as funding is available.
Additional information regarding SSS and the PFS is available at: sssbynais.org/parents
For more information, or answers to frequently asked questions, please review the SSS FAQ at: sss.nais.org/parents/learn/faq
Or contact the HPA Financial Aid Committee at: firstname.lastname@example.org