How is tuition assistance awarded?
Ursuline Academy is a member of the School and Student Service for Financial Aid (SSS) which assists independent schools in determining a family’s financial need. The Report of Family Contribution (RFC) computed by SSS is reviewed by our Tuition Assistance Committee and serves as a guideline in making tuition assistance decisions. The RFC report does not bind Ursuline Academy to any specific award.
Do you award grants?
All need-based assistance is awarded as a grant which does not require repayment. Most grants are limited to 50% of tuition, and are based on a family’s demonstrated need and available funds.
Who may apply for tuition assistance?
The family of any student who wishes to enroll in a full-time program at Ursuline Academy may apply for tuition assistance. The Tuition Assistance Committee will consider applications from current families first.
Does applying for tuition assistance influence the admission decision?
No. Ursuline Academy accepts students based on academic merit and test results. Tuition assistance files are reviewed independently of the admission process. If a student is neither admitted nor placed on the wait list, the tuition assistance file is shredded and destroyed.
How do I apply for tuition assistance?
Ursuline Academy requires that the family file a Parents’ Financial Statement (PFS), which is the official application provided by School and Student Service for Financial Aid (SSS). Complete directions to complete the application are available to all families online at http://sss.nais.org. The application will open on Wednesday, November 1, 2017. The PFS should be completed no later than November 30, 2017. Families who meet this deadline will receive priority consideration by the Tuition Assistance Committee for the 2018-2019 school year. It is acceptable to use estimated information from 2017 income and expenses. All information related to parents’ financial circumstances will be treated confidentially. These forms will only be used to arrive at a fair determination of financial need.
How is financial need determined?
Financial need is defined as the difference between what it costs to attend Ursuline Academy and a family’s ability to pay. The Report of Family Contribution is sent by SSS to Ursuline Academy (and to the family if it so requests), and it provides the school with a general assessment of a family’s ability to pay for education. Major factors in determining financial need include, but are not limited to, income, assets, liabilities, family size and the number of students in tuition-charging schools or colleges. After an allowance for basic necessities and required taxes, the remaining funds are considered available for education on a sliding scale. The greater a family’s ability to earn income, the greater the expected family contribution. Ursuline Academy has limited funds for tuition assistance, so a family’s award may not meet the total amount of need as stated on the RFC.
Is tuition assistance automatically renewed each year?
No. Ursuline Academy requires families receiving tuition assistance to reapply each year. However, as long as the student remains at our school, tuition assistance requests will be renewed each year according to demonstrated need, a current student’s good academic and behavioral standing, and a family’s good financial standing with the Academy for the present school year. Changes in such things as income, family status, and the number of children attending private institutions may result in increases or decreases in an award. Every application is reviewed annually.
What if parents have more than one student at Ursuline Academy; are there special instructions?
Parents need file only one Parents’ Financial Statement in the name of the oldest child applying to or attending Ursuline Academy and should list all children on the PFS form.
What if at least one parent owns his or her own business?
If either parent is a partial or full owner of a business or farm, he or she must complete the Business/Farm Statement. The Business/Farm Statement will be included with the Parents’ Financial Statement (PFS) and should be submitted at the same time.
What if a family’s financial circumstances change during the year?
If your circumstances change after you submit the PFS, contact the Financial Aid Office and submit your new information in writing. Do not submit a new PFS to SSS. The Tuition Assistance Committee will review and awards will be based on your need and remaining resources.
What happens if the parents are divorced or separated?
Ursuline Academy believes that parents have an obligation to pay for the educational expenses of their children to the extent that they are able. The Tuition Assistance Committee will consider the financial information of both natural parents, if living, before making any award, and cannot be bound by the assertion that one parent has disclaimed, legally or otherwise, any responsibility for educational expenses. If either parent has remarried, the committee will also consider the financial information of the stepparent, bearing in mind the obligation of that stepparent to his/her own natural children.
In view of this policy, it is necessary that both natural parents and their current spouses, if any, fill out a separate PFS form. An extra form for the non-custodial parent may be requested. However, if the PFS form was completed by the non-custodial parent last year, the school will send a PFS form directly to that parent. Waiving the requirement of the non-custodial parent will be considered if: 1) Documented information is provided that states the location of the non-custodial parent is unknown. 2) Documented information is provided that the non-custodial parent has given no support AND had no contact with the family. Documentation will be accepted from a doctor, lawyer, minister, or any such person outside the immediate family.
When will I be notified of my award?
The Tuition Assistance Committee reviews all completed applications and notifies each qualified family of a preliminary award in January if the application is made by the first priority date. Thereafter, rolling deadline and decisions will occur from February through April. An award is considered preliminary until the Tuition Assistance Committee verifies actual income and expenses by receiving a report by SSS that tax documentation has been submitted to them. All 2017 W-2 forms, and business statements, if necessary, must be sent directly to SSS during the application process or at the earliest possible date. The Committee will notify families of any adjustments and confirm awards by May of 2018.
Whom may parents contact for information?
All written correspondence should be sent to the attention of the Tuition Assistance Committee, or call Ursuline Academy, (302) 658-7158.