One Financial Aid Scenario
	Below is a scenario that may be helpful as you begin to understand the process and who qualifies for financial aid. For additional scenarios please go to sss.nais.org. In this scenario it is a two parent working family with two school age children. One has a full time job with benefits, the other works part time with no benefits. Both children are intending to enroll (with financial aid) in an independent school. This scenario outlines what the family’s financial aid award would look like if they attended Gordon. SSS calculates total income Wage for Parent #1 $87,000 Wage for Parent #2 $21,000 Interest income from their 1099 statement $175 Taxable income (not reported elsewhere) $100 Total income $108,275   SSS calculates effective income Total income $108,275 Total allowances $25,750 Effective income $82,525   SSS calculates income supplement The income supplement is the amount SSS determines can be taken from the total net worth, assets and debts to contribute to the children's education. Net worth/assets/debts $181,000 In this case, SSS will calculate a supplement of $8,000, due to age of parents and size of family Income supplement $8,000   SSS calculates the adjusted effective income Effective income $82,525 Income supplement $8,000 Adjusted effective income $90,525   SSS will recommend the parental contribution off of this number Estimated parental contribution $22,064 Two children in tuition driven schools $11,032 per child   The financial aid award for one student would be: Tuition $20,945 Basic fee $450 Total cost $21,395 Parental contribution $11,032 Financial aid award $9,133   Gordon does not have a loan program but does have a ten-month payment plan for families to spread tuition over ten months. Ten-month payment plan $1,103.20 per month