Assessment Process

The Assessment Process

All applications are assessed according to consistent and fair criteria. Since all financial aid is awarded on a need basis, a family applying for aid must demonstrate need; that is, they must demonstrate that they are unable to afford tuition in a given year. 

The financial aid assessment primarily considers a family's income and expenditures as well as assets and liabilities. By comparing these factors, the Financial Aid Committee determines how much a family can afford to contribute toward tuition. The difference between what a family can pay and tuition is the demonstrated "need" of the family. 

King's Academy considers a range of factors when determining need and the availability of family funds, and looks carefully at the expenditures of the family.

Some examples of necessary expenditures include, but are not limited to:

  • Home repairs
  • Food expenditures
  • Primary home rent or mortgage payments
  • University or other school tuitions (including tuition for parents)
  • Health and medical expenses
  • Car repair
  • Utilities (water, phone and electricity)

Examples of what might be considered extra spending or assets that may be diverted for payment of tuition include, but are not limited to:

  • Land and real estate assets
  • Consumer debt (credit card debt and the like)
  • Spending on vacations and summer programs
  • Spending at restaurants and luxury stores
  • Luxury automobile ownership
  • Liquid financial assets (like stocks and bonds)
  • Extended family wealth

In addition, King's Academy makes balanced and individualized assessments of businesses owned by parents. Please contact the financial aid office to discuss your business and its likely treatment with regard to demonstrated need. 

Household and Family Structure Policies

In almost every case, both parents and/or guardians are required to submit full documentation as they are both considered responsible for the child's education. The requirement for documentation from one parent may be waived at the discretion of the financial aid office. If the child does not reside with the parent(s), the burden of proof of need falls on the child's legal guardian(s). 

Treatment of Special Issues

Unemployed Parents 
The financial aid process takes into account that the parent cannot currently contribute to tuition and monitors the employment status of both parents through the yearly renewal process. If a parent not working appears to be voluntary, that parent is assigned an imputed wage. This imputed wage is set at the discretion of the financial aid office using all available information, including employment history and the current average salary rates in various professions. 

Care for Family Members 
Occasionally, families will be caring for a family member financially, physically or both. This cost would be assessed as either vital or unnecessary where, if vital, the Financial Aid Committee would take this cost into account when determining need. 

Student Assets 
Significant student-owned assets will be considered available for payment of tuition unless those funds are earmarked for university tuition or are in a legal trust. 

Child Support and Alimony 
Child support and alimony are considered the same as ordinary income for the parent who is receiving it. 

Summer Camps, Trips and Schools 
King's Academy believes that tuition for the regular academic year should be a family's primary educational spending priority. Therefore, families who seek financial aid support for tuition should not be spending financial resources on supplemental academic activities, such as educational trips, camps, or summer programs. If a family can afford these types of expenditures, the Financial Aid Committee will assume it can afford the full King's Academy tuition.

International Students 
International students go through the same process and are evaluated by the same standards as Jordanian students. There is no advantage or disadvantage given to international students in the awarding of aid funds. 

Financial Aid Awards

Notification

Once a decision is made by the Financial Aid Committee, applicants of accepted students will receive one of four letters: 1. The Financial Aid Award Contract, 2. The Letter of Non-Qualification, 3. The Letter of Demonstrated Need but Not Funded or 4. The Waitlist Letter. 

1. The Financial Aid Award Contract is sent to qualified applicants and is an offer of financial aid from King's Academy to the family. If the family accepts the terms outlined in the contract, they may sign and return the contract and enroll their student as a financial aid recipient.

2. The Letter of Non-Qualification is sent to families who have not demonstrated need according to King's Academy financial aid policies and guidelines.

3. The Letter of Demonstrated Need but Not Funded is sent to families who have demonstrated need, but are not able to be funded due to the limits of the King's Academy financial aid budget. An offer of full-pay enrollment will be sent to these families in the hopes that they can find alternative support or financing for tuition.

4. The Waitlist Letter is sent to families that demonstrate need, but cannot be funded immediately. There is a small chance that funding will become available and a student on the waiting list may be offered financial aid. In all cases, the financial aid office will keep each student on the waiting list apprised of his or her status throughout the ongoing process.

Alternative Financing Plans

Tuition Loans
King's Academy does not offer tuition loans. 

Tuition Payment Plans
The Bursar's Office should be consulted with regard to any deviation from the standard payment schedule. In certain cases, and with the approval of the CFO, alternative payment arrangements can be considered for parents demonstrating hardship.

Renewal Process

To renew their financial aid for the next year, families are required to submit a renewal application as well as the last six months of bank statements and proof of income from both parents. Financial aid will not be renewed for families if they no longer demonstrate financial need or they fail to return the renewal package by the deadline. 

Families who wish to appeal a decision by the Financial Aid Committee may write a letter to the committee and provide additional financial documentation, if available, that would document a demonstration of financial need. 

Confidentiality

All financial aid documentation and information is stored in locked cabinets and on secure computer servers. All requests for confidential family information must be directed to the financial aid office. King's Academy does not release confidential information to outside parties without parental consent. 

Financial aid information may be shared internally if the Financial Aid Committee deems the information to be helpful to other colleagues while ensuring that such information remains confidential within the King's community. The financial aid office and the University Counseling Office coordinate and share information with respect to students requesting or receiving financial aid. All applicants should take note that when applying for university admissions and financial aid, information from the King's Academy financial aid office will be furnished to the relevant staff in the University Counseling Office. Financial aid information would only be shared with those outside of the organization in extraordinary circumstances and with parental consent. 

King's Academy reserves the right to break confidentiality if there is evidence of illegal activity or danger to the student or staff.

Last updated
September 14, 2015