Iolani School - About Financial Aid

1.	Should our family apply for financial aid?
	It is our hope that you first evaluate all your resources, adjust priorities, and carefully manage your assets before coming to us for financial aid. The most helpful guideline comes from your personal knowledge of your family’s finances: Can you find a way to pay approximately $1,700 each month, for ten months, for your child’s education? If not, your family may be a candidate for financial aid.
2.	Can my child apply for an academic, athletic, or musical scholarships?
	No, there are no scholarships based on academic, athletic or musical merit. All financial aid is based on demonstrated financial need. At `Iolani, the terms scholarship and financial aid are used interchangeably.
3.	Are there other scholarships besides the Stone, Weinberg, Hannemann, and David P. Coon Scholarships?
	There are approximately 70 scholarships that support the `Iolani Financial Aid Program, and each has its own eligibility criteria. Families apply for financial assistance in general and not for individual scholarships. When a student receives an award, he/she may be assigned to an individual scholarship based on the donor criteria.
4.	How is financial aid determined after I have submitted my Financial Aid Application?
	Financial aid is awarded annually according to your level of need. We use a standard calculation from School & Student Service by NAIS (SSS) as a base. You complete the Parent’s Financial Statement (PFS) which considers your gross taxable and non-taxable income, assets, liabilities, family size, and number of children in tuition charging schools. After an allowance of basic necessities and required taxes, we consider the remaining funds for education.
5.	Will my child's admission be affected if we apply for financial aid?
	Applying for financial aid has no bearing on the Admission Committee’s assessment of your son or daughter's potential as an `Iolani student.
6.	Will my child’s financial aid award change from year to year? What if our family income changes?
	Financial aid is recalculated each year using current information. In general, if there is little or no change in your family circumstances, you can expect the award to remain at about the same level. If your need increases significantly, `Iolani will try to meet that need. However, if your need decreases, your award will be adjusted accordingly.
7.	As a recipient of financial aid, will my child have extra responsibilities, such as a campus job?
	Yes, if your child is 14 years and older, he/she will be asked to work in school offices, labs or in the cafeteria for one period each school day.
8.	We have other children applying to or attending tuition charging schools. Must we also apply for financial aid from those schools?
	Yes. We assume that if you are applying for aid from `Iolani, you also will apply for financial aid from other schools as well. If another school does not have a financial aid program, please note that on your PFS.
9.	Will we have to repay any financial aid we receive?
	No, if your family is awarded financial aid, you will not be expected to repay the award.
10.	If my family experiences a major financial emergency, will the financial aid program help us?
	Financial aid funds are limited. Once funds are awarded, additional aid during the year may not be available. If you have a financial emergency, we encourage you to contact the Business Office. The Tuition Refund Plan (TRP) offered to parents at the beginning of the school year provides a 100% pro-rata tuition continuation benefit in the event of a parent's or legal guardian's death. It also provides partial financial protection in the event of student medical absence, withdrawal or dismissal during the school year.
11.	What happens in cases where parents are divorced or separated?
	We believe that divorce or separation does not relieve the biological parents from their educational responsibilities. `Iolani requires that both parents apply for financial aid by completing the PFS and submitting their required documents by the deadline. The Committee reviews the financial status of both parents and determines the student's need based on the family's ability to contribute.
12.	What happens if a biological parent cannot be contacted or his/her whereabouts are unknown?
	`Iolani will waive the requirement if the parent can provide documentation from an official source, such as a family doctor, lawyer, school official, social worker, or other non-related person who is aware of the family situation in a professional capacity that states: the location of the other biological parent is unknown the other biological parent has provided no support and has had no contact with the family for at least three years it is not in the family's best interest to be involved with the other biological parent. If there are other extenuating circumstances, please explain the situation in a letter addressed to: `Iolani School Financial Aid Office, 563 Kamoku St., Honolulu, HI 96826
13.	In situations when a parent marries or remarries, will that person's financial circumstances be considered in the financial aid award for my child?
	Yes. The addition of another adult into your household generally changes the financial picture. We will ask you to complete the PFS together and provide information and documents pertinent to the new family unit.
14.	Can my family appeal for additional aid if we feel the amount of the award is insufficient?
	Yes. You must submit a written request stating specifically what has changed since the PFS was submitted, and why the amount should be reconsidered. You may need to provide additional documents.
15.	Can I apply for financial aid if my child currently attends `Iolani and does not receive assistance?
	Yes. You may request a financial aid application by calling the Financial Aid Office at (808) 943-2282 or by emailing chirashi@iolani.org. An application will be sent to you. Once you receive the application, you may apply online at www.sss.nais.org or by mail.
	All applications for financial aid are held in strictest confidence. Once submitted, they become the property of 'Iolani School and are held for five years. Please refer financial aid questions to Carole Hirashima at 943-2282 or at chirashi@iolani.org.