How is financial aid determined?
To determine need, CRMS uses the services of the School and Student Service (SSS) for Financial Aid in Princeton, N.J. This service utilizes information provided by the family on a Parents’ Financial Statement (PFS) form, which asks for income, expenses, assets, and liability information. Families send the original completed PFS form to the School and Student Service online through their website. SSS computes this information and determines an estimated need. The Report of Family Contribution is sent from Princeton to CRMS, and the CRMS Financial Aid Committee uses this estimated need as a guideline in making awards, in conjunction with an assessment of the supplementary materials submitted with the application.
How much financial aid can I expect to receive?
Each case is considered individually, but every family should expect to contribute something toward their child’s education – typically a minimum of $10,000-12,000. The total amount received will be based on demonstrated financial need, academic record, extracurricular activities, and character.
What if there is a situation involving divorced or separated parents?
CRMS expects both the custodial and non-custodial parents to participate in the support of their child. It is up to all parties involved to communicate and participate in good faith in the financial responsibilities. CRMS does not interpret divorce or legal separation decrees.
What if I do not have my tax return completed by the deadline?
A copy of the most recent year tax return is required in order to cross-reference the information provided on the Parents' Financial Statement. In some instances, at the sole discretion of the Financial Aid Committee, a preliminary award can be made and then finalized upon receipt of your most recent tax return. Priority and funding will be allocated first to families who submitted complete applications.
What about award renewals? Can I expect the same award each year?
Need-based financial aid is not automatically renewable. Every financial aid award is made for one year only and will be reviewed annually. Each year and for each child, parents must submit the necessary forms to School and Student Services for Financial Aid (SSS). Unless new information comes to light, and as long as financial circumstances remain the same, the Financial Aid Committee’s goal is to maintain funding at proportionate levels over the years that the student is enrolled. Current CRMS families who are not on financial aid and who have experienced unexpected financial difficulties may apply for financial assistance for the following school year.
CRMS reserves the right to amend awards if new information comes to light after enrollment.
Does the school offer Merit Scholarships?
CRMS does not have a formal merit scholarship program.
For answers to additional questions about financial aid, please contact Molly Dorais.
MYCRMS
Virtual Tour