Frequently Asked Questions
- What is financial aid?
- How do you apply for financial aid?
- How are the financial aid awards determined?
- I am not sure if our family will qualify for financial aid. Is it worth applying?
- Will applying for financial aid affect my child's chance for admissions?
- When should we apply for financial aid?
- When will we be notified of our financial aid award?
- Do we have to re-apply for financial aid every year?
- If my child is currently enrolled at King's Academy and does not receive financial aid, can we apply for aid in subsequent years?
- How is financial status and ability to pay evaluated if the student's parents are separated or divorced?
- Does the school offer tuition payment plans or loan programs?
Financial aid is monetary assistance provided to families who could not otherwise afford the tuition at King’s Academy; financial aid awards are a gift from the school to families who demonstrate financial need. Underpinning this aid is the goal of King’s Academy to ensure that families are not deterred from applying to the school simply because they do not have the means to pay tuition. The financial aid package is not a scholarship, nor is it a loan from King’s Academy to the family. Awards are based solely on demonstrated financial need and are only considered after a student has been accepted into King’s Academy.
Financial aid awards are solely based on financial need. King’s Academy’s assessment system considers income, assets, liabilities, family size and the number of students in tuition-charging school or colleges. Financial aid is awarded to families according to their level of need as determined by King’s Academy’s Financial Aid Committee. Families who meet the financial aid application deadline will be notified of the financial aid decision at the time of the admission decision on March 7, 2019. It is important to note that an offer of financial aid is not guaranteed and that some families may be placed on a financial aid waiting list.
If you are unsure whether you will qualify, please contact the Financial Aid Program Office for advice. If you are uncertain about qualifying but also recognize that the tuition will be a significant financial hardship, you should apply. As a general rule, families who receive financial aid would not be able to send their son or daughter to King’s Academy without the assistance of financial aid. Families should view a King’s Academy education as an investment in their child; this often means sacrifice on the part of the family. Please also bear in mind that applying for financial aid does not guarantee that an award will be made; funds are limited and are distributed based on financial need.
Financial aid applications must be completed and submitted to the Office of Admissions by January 10, 2019. It is not sufficient to only indicate interest in financial aid on the admissions application. Applications received after the deadline will be considered only on a case-by-case basis and only if financial aid funds are available.
Yes, families must re-apply for financial aid each year, although awards generally remain intact for a student’s entire enrollment. However, if a family’s financial circumstances change from year to year, that may affect the amount awarded. King’s Academy expects families to submit any major financial changes to the financial aid office. Failure to submit evidence of changes in financial situation may result in termination of the financial aid award.
King’s Academy offers a tuition payment plan in which tuition can be paid in three installments over the course of the academic year. If this payment schedule does not work for your family, please contact us and we will work with you to find a suitable payment plan.
King’s Academy does not offer a loan program.