Computation of Family Contribution

The School and Student Service for Financial Aid (SSS), is a “need analysis” service that relies on “national economic factors” to determine the eligibility of families. The SSS, like Cushing Academy, believes a family has the primary obligation to finance their child’s education. In determining a family’s eligibility, factors such as family size, parents’ age, extraordinary expenses and retirement provisions are considered. Distinctions must be made between obligatory expenses, such as tax payments, and those made by choice, such as vacations or purchasing a recreational vehicle. Because situations vary, an objective analysis system computes a recommendation based upon the information the family provides to SSS. Often, families with similar incomes have a different RFC; this is due to the numerous variables involved in the calculations. Cushing reserves the right to accept the recommendation made via the Report of Family Contribution or to amend it by using more extensive documentation required to complete the application process in accordance with the Academy’s mission and policies. The Financial Aid Committee assesses each family’s financial situation individually. This assessment is completed with certain general principles and practices, which are in addition to those of the SSS guidelines.