A Powhatan School education is an investment in your child’s future, and many families are concerned about their ability to make that investment. Powhatan School understands this concern and works to determine a fair assessment of a family’s ability to afford a Powhatan education. The financial aid committee is committed to making Powhatan’s program affordable to all qualified students to the extent that our resources allow. For the 2022–2023 school year, Powhatan has extended more than $400,000 of financial aid to roughly 25% of the student population with an average award of $7,300.

At Powhatan, financial aid is based solely upon demonstrated financial need. To help determine each family’s need, Powhatan subscribes to the School and Student Services for Financial Aid (SSS). Families should expect to contribute to their child’s educational expenses to the greatest extent they are able, given their economic situation.

Any current or prospective student may apply for financial aid which entails submitting the Parents’ Financial Statement (PFS) and all required supporting documentation to SSS.

The deadline for applying for Financial Aid is February 15, 2023.

The obligation for financing a child’s education rests primarily with the family, including parents and extended family where appropriate.

Powhatan expects that a family will be willing to make significant adjustments in the use of its discretionary resources—and access supplementary resources available through family, work, and local organizations.

Application Timeline/Deadlines: Families interested in applying for financial aid should contact the Admission Office in the early fall. Please note carefully the instructions and deadlines given below. In recent years, Powhatan has seen an increase in financial aid applications. Therefore, to be considered, all financial aid application materials must be received by the deadlines listed below. Please be aware that Powhatan does not have sufficient funds to provide financial aid grants to all qualified applicants. We recognize the unfortunate reality that for some families this may adversely affect their ability to accept our enrollment offer.

The Financial Aid Application deadline for families wishing to apply for financial aid consideration is February 15, 2023.

By February 15, 2023 please include the following with your SSS online application:

• Signed tax return(s) and all related schedules, if applicable or Signed tax return(s) and all related schedules, W2s and/or 1099s
• Any applicable signed corporate/business tax return(s)

If you are reapplying for financial aid, please note the change that all documents, including taxes, should now be sent to SSS via the online application for Financial Aid.

The Powhatan SSS school code is 5890

Submitting the PFS Online: All families are required to submit the PFS online through the School and Student Services (SSS) website. The fee for applying is $51 regardless of how many children are on the PFS or the number of schools to which they are applying. Powhatan’s SSS school code is 5890.

Determining Financial Aid Awards: The PFS outlines the family’s current financial status. Once the PFS is received by SSS, the data are run through a standard calculation formula. Common factors taken into consideration are family income, assets, debts, family size, age of parents, number of children attending tuition-based institutions, home equity, and certain other expenses. SSS returns the data analysis to the school in the form of a Report of Family Contribution (RFC), which suggests what the family can pay. This amount is not binding and does not imply what kind of financial assistance will be given by the school.

Funds do not come from SSS but are awarded directly from the school. Families may also request a copy of the RFC directly from SSS. Powhatan’s Financial Aid Committee reviews each RFC carefully and reserves the right to adjust the amount of the recommended family contribution based upon school policy and supporting documentation. For example, if a parent (who does not have small children at home) makes the choice not to work, Powhatan will consider the potential income that could have been earned by that parent.

A financial aid file is considered complete when SSS has received the PFS and all required signed tax returns and schedules from the family. The school reserves the right to make any necessary changes to a financial aid award if the tax information differs substantially from the previous year’s tax information.

Families currently receiving financial aid from Powhatan will receive notification regarding next year’s application at the same time re-enrollment contracts are issued.

New applicants for financial aid will receive financial aid notification no later than March 9, 2023. Please remember that admission and financial aid decisions are made in separate processes; an application for financial aid will not affect an admission decision.

Financial aid awards are granted for one year at a time. Current recipients must reapply for financial aid each year and in January. Look for notification reminders in the weekly Powhatan Packet e-newsletter. Awards for continued assistance, correlate to changes in a family’s finances, may fluctuate from year to year.

Powhatan maintains confidential financial aid records for all applicants. These records are reviewed by the financial aid committee. All financial aid awards are confidential agreements between the recipient family and the school.

The financial aid committee considers financial aid awards strictly confidential. Powhatan does not share information with any other party. Because of this, families may not discuss financial aid information with anyone other than a member of the financial aid committee. Awards can be withdrawn for breach of this expectation.

All appeals regarding financial aid awards must be submitted in writing directly to the financial aid committee prior to submission of a signed contract and award letter.

Still have questions? Contact Michael A. Hatfield in the Office of Admissions at mikehatfield@powhatanschool.org or 540-837-1009.

Tuition pays for only part of the cost of a Powhatan education.

Powhatan’s goal is to maintain the strong program for which we are known while staying at a tuition level that most parents can afford. Tuition does not cover the full cost of educating a child. Tuition is the single largest stream of income with 87% of the budget funded through tuition revenue. Approximately $2,350 is not covered by tuition. Every Powhatan family, whether they receive a financial aid package or not is underwritten by Powhatan’s endowment and generous annual gifts from alumni, families, and friends of the school.

The Board of Trustees of Powhatan School affirms the policy of nondiscrimination in the admission of students. The school admits students of any race, color, sexual orientation, national, and ethnic origin to all the rights, privileges, programs, and activities generally accorded or made available to students at the school. It does not discriminate on the basis of race, color, sexual orientation, or national and ethnic origin in the administration of its educational policies, admission policies, scholarship programs, athletic, and other school-administered programs.

Please refer to Powhatan’s Financial Aid Policy in the handbook for full details.