The Pegasus School I Admission I Financial Aid

Your Child's Future

A Pegasus School education is an investment towards the success of your child’s future. The Pegasus School is committed to offering an exceptional independent school education to families of all income levels. Application for our financial aid program by new and returning families is encouraged and will be based on financial need.

Socio-economic diversity is an important part of The Pegasus School, and each year we assist up to 15% of our student population with these need-based grants. Awards vary from 5% to 100% of tuition and may also include additional expenses that are part of the Pegasus experience such as field trips, the after school program, transportation, etc.

Financial aid decisions are made independently of admissions decisions, and financial aid awards are announced to new families after their children have been accepted for admission.

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 is February 15. Submission of all tax forms (completed and signed) and W-2s are due by February 22.

Policy and Process

List of 2 items.

Policy

APPLICATION DEADLINE IS FEBRUARY 15

The Pegasus School recognizes that a student and parent body that reflects the true socioeconomic diversity of Orange County enriches and enhances our educational opportunities. We value equity and inclusion and the contribution that a multiplicity of voices bring to the education environment. The Board of Trustees believes qualified, mission-aligned students who desire a Pegasus education should not be denied opportunity due to financial hardship or because a family does not have the means to pay full tuition and fees. Financial aid funds 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 meet that need. Financial aid awards do not have to be repaid.

Financial aid awards range from 5% to 100% of tuition and are available for any student in any grade level. After school programs, extracurriculars, field trips, and other costs may also be included as a part of the financial aid package. In the case of a custody situation, both parents must complete the financial aid application.

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).
2. Upload a complete, filed, and signed copy of all current year 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 and returning families will be notified within a week of completing their application.
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 that 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 should apply for financial aid in the same manner as new students. Financial aid applications are submitted each year the family requests aid as circumstances may change from year to year.

This process is directed by the Admissions Office. Please contact the Admissions 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 I 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?

The approved amount in financial aid will appear as a credit towards tuition on the enrollment contract. The financial aid package, depending on need, may include additional costs such as field trips, the after school program, extracurriculars, transportation, etc.