Financial Aid Application Notice

 School Requested Documents Policy

To ensure a fair and thorough evaluation, families are required to submit School Requested Documents in addition to their FAST application. While FAST will verify 2023 tax returns directly with the IRS, it will not validate supplemental documents. Families who fail to submit the required documents will have their financial aid application denied in full.

 Required Supplemental Documents

1. Family & Household Information:

• Proof of Residency (e.g., utility bill, lease agreement, or mortgage statement).
• Divorce/Separation Documentation (e.g., divorce decree, separation agreement, custody agreement), if applicable.

2. Income Verification:

• 2024 Tax Returns (once available).
• W-2s or 1099s for all working household members.
• Pay Stubs (last two pay periods for each income earner).
• Self-Employment Income:
  - Business Tax Returns (Forms 1120, 1120S, K-1, Schedule C, if applicable).
  - Profit & Loss Statement (if applicable).
• Other Income Documentation (e.g., Social Security, child support, alimony, rental income, or other sources).

3. Assets & Liabilities:

• Bank Statements (last 3 months for all checking and savings accounts).
• Investment Statements (e.g., stocks, bonds, securities, trusts, and retirement accounts).
• Real Estate Holdings (e.g., mortgage statement, property tax records, rental income documents).
• Business Assets (if applicable): Business financial statements.
• Debt & Liabilities (e.g., credit card balances, personal loans, car loans, or other major financial obligations).

4. Student-Specific Financials:

• 529 College Savings Plan: 529 Plan Statement (if applicable).
• Student Trusts: Trust documentation (if applicable).

5. Required Forms for All Applicants:

To ensure you can fill out and complete the document, please either:
1. Login to your gmail account and make a copy of the document.
2. Download and save a copy to your device before filling it out.
This will allow you to edit and submit the document as needed. 

1. Statement of Accuracy Agreement:
   - All applicants must sign a Statement of Accuracy Agreement, confirming that the information provided is complete and accurate. Any misrepresentation or omission of financial details will result in immediate denial of financial aid and may lead to disenrollment from AGBU MDS.
   - The signed document must be uploaded to FAST as part of the application process.
   
   
   
2. Family Monthly Budget Form:
   - All applicants must complete a Monthly Budget Form, providing an accurate and comprehensive breakdown of household income and expenses. The form must be completed on a cash basis, reflecting actual income received and expenses paid during the reporting period.
   - The completed document must be uploaded to FAST as part of the application process.
   
   
3. Special Circumstances Form (if needed):
   - If applicable, the Special Circumstances Form allows families to document and explain significant financial hardships that may impact their eligibility for aid. Special circumstances that are not documented at the time of submission cannot be considered during the initial review and may require an appeal after a decision is made.
   - The completed and signed document must be uploaded to FAST as part of the application process. 
   
   
4. Credit Report Authorization and Release Form:
   - The Credit Report Authorization and Release Form authorizes the school to request and review a credit report for all financial aid applicants. The credit report will be used to assess the applicant's financial situation and verify their ability to meet financial obligations.
   - The signed document must be uploaded to FAST as part of the application process.
   
   
5. Letter to School Statement:
   - This letter provides families with an opportunity to share additional information about their financial circumstances, unique challenges, or any other relevant details that may not be captured in the standard forms or documentation.
   - What to Include:
      Families may include the following details in their letter:
            - Explanation of any financial hardships or changes in circumstances (e.g., job loss, medical expenses, or unexpected events).
            - Details about any significant expenses or obligations not covered in the application forms.
            - Family priorities regarding education and why financial aid is essential to their ability to continue enrollment at AGBU MDS.
            - Any other information the family believes is relevant to their financial aid request.
   - The document must be uploaded to FAST as part of the application process.