The Pegasus School I Admission I Financial Aid

Your Child's Future

Investing in an education at The Pegasus School is an investment toward the success of your child’s future. As we recognize that making this a priority requires commitment to allocating finances in a way that not all families can afford to do, our school is committed to making financial aid available to new and returning students. Application for admission to The Pegasus School should not be discouraged because of affordability of tuition.

We consider socio-economic diversity an important part of our school, and each year we assist about 10-15% of our student population with these need based grants. Awards vary from 5% to 100% of tuition and do not need to be repaid.

Financial aid awards are announced to new families after their children have been accepted for admission. Admission to The Pegasus School and financial aid award decisions are made completely independent of each other.

In the case of joint custody, both parents must complete the FAST application in order for the application to be considered.

The deadline for submitting a completed financial aid application for the 2020-2021 school year is February 15, 2020. Submission of all tax forms (completed and signed) and W-2s are due by February, 22, 2020.

Policy and Process

List of 2 items.

Policy
APPLICATION DEADLINE IS FEBRUARY 15

At The Pegasus School, an essential element of our mission, philosophy and culture is to make it financially possible for all who qualify through the admission process to attend. The Board of Trustees recognizes that our school is enriched and educational opportunities enhanced by having a student body composed of a diverse population. Monies for financial aid are covered by the financial aid reserves and operating budget. Financial aid is available to students at any grade level whose family demonstrates need by application through FAST.

Current families receiving financial aid must reapply to receive financial aid each year as the annual renewal of any grant is not automatic or guaranteed. As long as a family continues to demonstrate need, The Pegasus School will continue to attempt to meet that need. Financial aid awards do not have to be re-paid.

Financial aid awards range from 5% to 90% of tuition and are available for any student in any grade level. In the case of a custody situation, both parents must complete the financial aid application.

The following priority is considered by the Financial Aid Committee when awarding aid:
- Current Pegasus families who are already receiving financial aid
- Current Pegasus families who have not previously applied for financial aid
- Newly accepted students applying for financial aid
While the financial aid committee reviews all financial aid applications, it is possible that not all who apply will qualify.
Process
APPLICATION DEADLINE IS FEBRUARY 15

Financial aid is awarded on the basis of a family’s demonstrated need. To evaluate this, we employ a nationally standardized system for analysis from Independent School Management called Financial Aid for School Tuition (FAST) which includes a copy of the parents’ most recent Federal tax return (1040) and W-2 forms. FAST does not decide whether financial assistance will be given or how much to give; rather FAST provides a need-based financial aid analysis which includes a recommendation of what a family should reasonably contribute toward tuition.
1. Submit all information through the FAST website. The application process is self-guided. You may navigate in and out of the program allowing you to partially complete an application and go back to it at another time. FAST has a 24/7/365 helpline available to you should you have any questions, which can be reached by calling 1-877-326-FAST (2378). Please do not call the school with questions.
2. Upload a complete, filed and signed copy of all 2019 Federal Income Tax Forms to FAST. The upload must include a copy of all W-2 forms and all accompanying income tax schedules.
3. New families will be notified of decisions by March 8; current families will be notified by March 22.
Applying for financial aid is managed by a very small committee of administrators. This committee does not include teachers, Trustees, or parents, and all information and conversations remain confidential.

Parents apply for financial aid at the same time they apply for admission. The admission application and financial aid application are completely independent of each other, but financial aid is only awarded to those applicants that are admitted into The Pegasus School. The award will appear as a credit on the student’s enrollment contract.

Returning students to The Pegasus School apply for financial aid in the same manner as new students. Financial aid applications are submitted each year the family requests aid as circumstances change from year to year.

This process is directed by the Business Office. Please contact the Business Office Monday through Friday, from 8:00 a.m. – 4:00 p.m. with any questions or email financialaid@thepegasusschool.org.

Financial Aid FAQs

List of 10 items.

Who is eligible for financial aid?

All newly accepted and returning students in good standing who qualify through the financial aid process are eligible to be considered for financial assistance.
How do I apply for financial aid?

The Pegasus School uses FAST (Financial Aid for School Tuition). You may apply online directly. A completed and signed copy of your Federal Tax Returns (Form 1040) and W2s from the past two years must also be submitted.
Should I apply for financial aid even if I am unsure if would qualify for any financial assistance?

Yes! Every family’s situation is different, and the financial aid committee takes into consideration all extenuating circumstances.
Who will see my financial aid application?

All information submitted through the financial aid process is confidential and is reviewed by a small committee of administrators. This information is never seen by faculty, parents, or Trustees.
Will my child’s application for admission be adversely affected because we are applying for financial aid?

No. Although the applications may be filed simultaneously, they are completely separate from each other. Admission to The Pegasus School is based on matching the merits of each candidate with the mission of the school. Financial aid is based on a family's demonstrated financial need.
Do we need to reapply for financial aid every year?

Yes. Because family situations change each year, we require that families reapply each year for financial assistance. If the current financial status of a family changes, families can also expect the award amount to change.
Once we receive a financial aid award but do not feel it is enough to make attendance possible, is there an appeal process to request additional funds?

The School makes every effort to consider a family’s complete financial picture in a fair and equitable way when making a specific award available. However, families may submit a written explanation of appeal to the Financial Aid Committee describing the reasons the award is not sufficient and requesting additional funds. The committee will reconvene to consider the request.
If our child is awarded financial aid and our income is adversely affected after the school year begins, what recourse do we have?

We recognize that occasionally significant and unexpected changes in income levels occur. Parents are highly encouraged to speak directly with the Business Office regarding this so that they can work directly with you to develop a temporary payment plan.
Is the financial aid application process different for divorced families?

The Pegasus School requires that both parents complete the FAST application and submit all required forms. All information is confidential and is never shared with other parents. Families are welcome to speak directly to us or write letters of explanation during the application process regarding these issues.
What does a financial aid award include?

Financial aid covers tuition only and appears as a credit towards tuition on the enrollment contract. Fees not covered include transportation, books, school supplies, athletics, after school programs, lunch, and outdoor education programs; however, there are some limited discretionary funds for these.