With our Financial Aid program, King’s Academy is within your reach!
- What is Financial Aid?
- Financial Aid Committee
- Assessment Process
- What to Expect?
- Renewal Process
Financial aid awards are primarily based on financial need. King’s Academy’s assessment system considers income, assets, liabilities, family size and the number of students in tuition-charging schools or colleges. A range of factors determines need including the availability of family funds, and the expenditures of the family according to their level of need as determined by King’s Academy’s Financial Aid Committee.
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.
Due to the limits of the financial aid budget, King’s Academy is unable to offer support to all admitted students who are in need for financial aid. There are many factors that go into the choice of which students are offered financial aid, including the overall academic strength of the applicant.
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 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 child 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. An offer of full-pay enrollment will be sent to these families in the hopes that they will invest in their child’s education.
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.
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.
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 school’s official use. 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.
King's Academy respects the confidentiality of financial aid applicants and their families. We require the same confidentiality on the part of students and their families as well.
Current King’s Academy families who are on financial aid must submit a renewal application form with the required supporting documents requested by the Financial Aid Office on annual basis. 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 given.
If there is no major change in a family’s finances, all current King’s Academy families who are on financial aid should expect an increase of 10 percent on their contribution when their child is moving to the Upper School, and a 2 percent increase in the following years.