The financial aid office requires a copy of the Parent's Financial Statement (PFS) by January 31. The office also requires a copy of your Form 1040 Federal Income Tax return sent to SSS by February 25. Please contact the financial aid office if you need any assistance.
A note to first time financial aid applicants: Before you complete the Parent's Financial Statement (PFS) on-line, be sure to also contact the Financial Aid Office at 540-672-6054 or firstname.lastname@example.org to inform us that you will be applying for aid.
ADDITIONAL FINANCIAL AID INFORMATION
List of 2 items.
Information for Financial Aid Applicants Who are Separated or Divorced
Woodberry Forest School’s policy in determining financial need is derived from the underlying principle that parents have an obligation to pay the educational expenses of their children to the extent that they are able. Although separation and remarriage of parents may create new relationships and perhaps generate legal or personal agreements regarding financial support, we believe that the responsibility of both natural parents for their children’s school costs is more fundamental than any obligation a school may have to provide these expenses. Woodberry Forest is not bound by the terms of prenuptial agreements or a divorce decree.
In accordance with this policy, the custodial parents and non-custodial parent should file the “Parents’ Financial Statement” (PFS), with the School and Student Service for Financial Aid (SSS). All parents requesting aid (both custodial and non-custodial) are required to submit a signed copy of their 2010 U. S. Federal Income Tax Return Form 1040, 1040A or 1040EZ (including all forms and schedules) for each parent. Also, include a signed, undated IRS Form 4506-T.
Parents who feel that unusual extenuating circumstances may warrant our reconsideration of the requirement of information from the non-custodial parent may send written inquiries to the attention of the Director of Financial Aid at Woodberry Forest School. Waiver of this requirement is considered only in exceptional cases.
Parents are assured that all information that is submitted will be kept in the strictest confidence. We will not act on a financial aid application until all the required information is received. Every attempt should be made to meet the deadlines specified in the financial aid program brochure.
Financial Aid to Attend Woodberry Forest is Available to Foreign Nationals
U. S. citizens must file an annual summary of their income with the Internal Revenue Service. This is the IRS Form 1040 with accompanying W-2 forms that we refer to in our brochure and cover letter. Of course, there is no possibility of receiving copies of U. S. Federal Income Tax forms from Foreign Nationals. However, before any award can be made, the Financial Aid Office must receive some documentation that verifies annual income. This might be a document similar to the U. S. Federal Income Tax form. If no such document exists, the Financial Aid Committee must receive information that satisfies our need of verifying your annual income. This information must include current currency exchange rate information.
If a foreign student is a nonresident alien for tax purposes, the portion of a grant that is a “qualified scholarship*” is not taxable or subject to withholding. However, IRS rules require the payer of the grant ( the school ) to report this amount, even though it is nontaxable, on a special information return for nonresident aliens, Form 1042S. A portion of a grant that is not a “qualified scholarship” is subject to withholding at a special rate of 14% and also must be reported on a Form 1042S. Please note that an income tax treaty between the U. S. and the student’s home country may exempt even this otherwise taxable amount from U. S. withholding.
* a “qualified scholarship” means a scholarship or financial aid grant used for tuition and fees required for enrollment or attendance at a school, or for fees, books, supplies and equipment required for courses of instruction at the school.
Woodberry Forest admits students of any race, color, sexual orientation, disability, religious belief, and national or ethnic origin to all of 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, disability, religious belief, or national or ethnic origin in the administration of its educational policies, admissions policies, scholarship and loan programs, and athletic or other school-administered programs. The school is authorized under federal law to enroll nonimmigrant students.