Tuition and Financial Aid

List of 5 frequently asked questions.

• Q. How do I apply for financial aid?

  If you are a new family to our school and indicate interest in financial aid on your application, the Admissions Office will send you a financial aid packet. If you would like to request these forms, please contact Shellie Carr at (518) 429-2348 or carrs@albanyacademies.org.

   

  Returning students receiving financial aid will automatically be sent the necessary forms in January. Returning students not currently receiving financial aid who wish to apply for aid must request forms directly from the Admissions Office.

   

  Follow the Financial Aid Checklist (available on the right hand side of this page). You may submit the Parent's Financial Statement (PFS) online at http://sss.nais.org/Pages/default.aspx. Please note that the Academies code is 1162. For assistance, please contact the SSS Helpline at (800) 344-8328.

   

  In addition, you will need to submit a copy of your current state and federal tax returns (Form 1040) with all supporting schedules, W-2s and the signed Form 4506 (available on the right hand side of this page) directly to SSS. Final decisions by the Financial Aid Committee will be based on the most recent year's data.

• Q. How is financial aid determined?

  To calculate a family's financial need, our school uses, as a guideline, the School and Student Service for Financial Aid (SSS). Click here for more information.

   

  SSS provides schools with an objective methodology for calculating a family's ability to contribute to educational expenses. Financial need is defined as the difference between the cost of education and the expected family contribution, which is determined by taking into account family income, assets, family size, indebtedness, parents' ages and necessary expenses.

   

  Once need has been determined, the family's financial aid file is reviewed by the school's Financial Aid Committee. Financial aid awards are awarded based on demonstrated need and availability of funds.

• Q. How do I apply for financial aid if I am divorced or have never married?

  We require that both natural parents contribute to the cost of education to the full extent of their ability and cannot be bound by the assertion that one parent has disclaimed responsibility for educational expenses. The non-custodial parent must complete a Financial Statement for Parents who are Separated or Divorced and submit it directly to the Director of Financial Aid unless that person's location is unknown or he/she has had no contact with the child for at least two years. The non-custodial parent must also submit his or her current federal and state tax forms, supporting schedules, and W-2s. The custodial parent submits a PFS form as previously noted. We assure complete confidentiality. The cooperation of both parents is required before Financial Aid awards are determined.

• Q. When do I apply for financial aid? When are awards made?

  Send your PFS form to SSS and mail a photocopy to the Admissions Office as early as possible in the calendar year for which you are applying. Preference is given to applications received by the February 15 deadline. Awards for new students are made beginning in mid-March in conjunction with the admissions decision and continue thereafter as the budget permits.

• Q. Will my child receive aid in subsequent years?

  Financial aid awards are renewable for subsequent years, as long as the demonstrated need continues, the student remains in good standing, and the funds are available. Applications for financial aid must be submitted annually.