Frequently Asked Questions
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1. Who is the third-party company involved in Tuition Adjustment?
Apple Financial Services is the company that administers the Financial Aid to Canadian Students program for TWS.
2. What is Financial Aid for Canadian Students (FACS)?
The Financial Aid for Canadian Students Program (FACS) is a method of determining levels of tuition reduction for families in need.
3. What is a Parents' Financial Statement (PFS)?
A Parents' Financial Statement (PFS) is a written, confidential statement of your net worth and of your ability to pay TWS fees, and an application for a tuition adjustment. After you submit a Parents' Financial Statement to Apple Financial Services, Apple provides TWS with an analysis of your ability to contribute towards the educational expenses of your children, and a recommendation regarding a tuition reduction (if any).
4. What does Apple Financial Services do?
Apple Financial Services sends Toronto Waldorf School a copy of your financial statement and an analysis. By sending your financial information to Apple you are giving permission for an analysis to be done and for Apple to send a suggestion of the required parental contribution to TWS. The suggested family contribution is based on your next year’s projected income and assets.
5. Does each child need a new application each year?
If you are applying for tuition adjustment for more than one child at TWS, generally you need to complete only one form. Each year you apply for tuition adjustment, you must file a new PFS with Apple Financial.
6. How do I complete the Parents' Financial Statement (PFS) online form?
Please provide on the online form all the information requested in order to avoid a delay in processing the report. You must provide dollar amounts for all taxable and non-taxable income for the previous and next tax year. If you send FACS an incomplete statement, you may receive a follow-up phone call. The processing of your statement will not be completed until this information is received.
If parents are separated or divorced, the student’s parent who contracts with the school to be primarily responsible for all costs should complete the form. In most instances, this will be the custodial parent and his or her present spouse. The school may require the non-custodial parent to complete a separate form or to include any step-parent information.
The information that you provide will be held in complete confidence. Only Toronto Waldorf School will receive your financial information and the FACS analysis.
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7. Can I change the information I submitted on the PFS?
If information first submitted on your financial statement changes, please notify Apple Financial Services so that a new analysis of it can be completed. Do not send another form. Describe the changes and provide any new dollar amounts. Apple will send the revised information to Toronto Waldorf School. Revised reports of suggested parental contribution will be sent to TWS if you added or corrected information that results in a change of $2,000 in your total income or a change of $5,000 in your net worth. Be sure to include your full name, school, and current mailing address in all correspondence with Apple.
8. What is the cost for Apple Financial Services to process the PFS analysis?
Toronto Waldorf School pays the fee.
9. Who makes the final tuition adjustment decision?
Apple Financial Services does not decide the tuition adjustment awarded; they provide analysis and recommendations. The TWS Tuition Adjustment Awards Committee makes the final decision.
10. Where do I address my questions about completing the form?
If you have any questions, please visit Apple Financial Services' website: www.applefinancialservices.ca.
11. What do I do after I have completed my PFS?
Please submit your online application by the contract due date at Apple Financial Services' website: www.applefinancialservices.ca.
12. Where do I address my questions about the Tuition Adjustment award?
Please send questions about the award to:
Darlene Gregoire, Business Manager
905-881-6137 ext. 310
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