Financial Aid 2017-2018

Frequently Asked Questions

We are aware of the many sacrifices that families make to send their children to Incarnate Word Academy and take great care each year to grant assistance to K-8 families in need. Tuition for the 2017-18 school year is $3,900.

 

We work with each family to ensure that applying for tuition assistance and scholarships is as simple and seamless as possible. We realize that this process can be daunting and overwhelming, so please feel welcome to contact us with your questions (440) 842-6818.

 

Incarnate Word Academy offers need based Tuition Assistance for students in grades K-8. All families who would like to apply for Tuition Assistance for the 2017-2018 school year must complete a FACTS Grant & Aid Assessment to gather and analyze family financial information to assess a Parent’s ability to pay tuition. This application must be completed each year to be considered for tuition assistance.

 

FACTS Grant & Aid Assessment Application and all supporting documents must be completed no later than March 15, 2017. Supporting documentation can be uploaded or faxed to 866-315-9264 or mailed to:

FACTS Grant & Aid

P.O. Box 82524

Lincoln, NE    68501-2524

 

• Only one application needs to be completed for all schools which use the FACTS Grant & Aid Assessment program to which the student is applying.  If you completed an early application at another school for a prospective freshman utilizing FACTS Grant & Aid Assessment (based on your 2015 tax return), you need to go back and update your information based on your 2016 tax return and other required data.  Incarnate Word Academy requires all 2016 documents to complete the application.

 

• Any divorced households must include with their application a copy of the divorce decree and child support agreement. If both parents are responsible for tuition, then both parents must apply and include the required financial information.

 

• Any single or unwed parents must supply a copy of the child support agreement relating to the child attending Incarnate Word Academy and include the income on the application.

 

• The amount of Tuition Assistance, if any, is based upon a family’s financial need. Incarnate Word Academy strives to assess each family’s financial situation based on their unique circumstances. Complete, accurate and timely information is required. Applications submitted after the deadline and/or with incomplete or inaccurate information will not be processed.

 

FACTS Grant & Aid must be submitted to apply for all Incarnate Word Academy Scholarships.

 

 

How do I apply for financial aid and scholarships?

Incarnate Word Academy uses the FACTS Grant & Aid Information application to assist in determining each student’s financial need. You can access this form on our website, www.incarnatewordacademy.org. Under Explore, just click on “Admission” and “Financial Aid.” You must complete the form online; paper applications will not be accepted. The application must be submitted by March 1, 2017. The online fee is $27. Please be assured that all financial information is strictly confidential.

 

Please note that a FACTS Grant & Aid applications must be submitted to apply for IWA Scholarships.

 

Does FACTS decide how much financial aid I will receive?

FACTS is a third party vendor who accumulates the information provided on the applications and determines a student’s financial need.  The individual school, including Incarnate Word Academy, will make an award based upon that need and the financial resources available to the school.

 

My child is considering several schools. Do I need to fill out a FACTS application for each school?

No, if the other schools use a FACTS Grant & Aid application.  Simply add the other schools to your FACTS application form. There will be an opportunity to add additional schools at the beginning of the online process, and also when you enter your child's information. FACTS will ensure that information is available to all requested schools, who contract with FACTS.

Please be sure and check with the other schools as to what vendor they use for their financial aid assessment.

 

I have other children attending different high schools or elementary schools. Do I need to complete another FACTS application for them?

Incarnate Word Academy uses the same form for all of its students, but each school sets its own deadline and requirements, and selects its own vendors.  You should follow up with the other schools for their deadlines and aid assessment vendor.

 

I completed an early FACTS application for my prospective freshman using my 2015 returns as required by the high schools.  Do I need to complete another FACTS application?

No.  You are able to return to your original application and update it with your 2016 information.  Be sure to update your application, add Incarnate Word Academy as an additional school and send FACTS your supporting documentation via upload, fax, or mailing of documents.

 

This FACTS form asks for 2016 tax return information. Since then, I have lost my job. Will that be taken into consideration?

Yes. In addition to requesting 2016 tax return information, the form also requests estimates for 2017. There is a question that allows you to indicate any reduction in income and to provide additional information you feel is necessary in reviewing your application. In these circumstances, the Finance Office will contact you regarding your particular situation and will revise the student need calculation based upon current family income.  Please remember that it is the responsibility of the parents to notify the Finance Office of any significant changes in financial circumstances.

Is there a maximum income threshold to qualify for financial aid?

 

The FACTS application takes into consideration several factors, including income, certain assets, family size and number of children in tuition charging schools, so there is no set minimum or maximum income that can be shared that would apply to all.

 

 

 

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© 2016 Incarnate Word Academy

Incarnate Word Academy    6620 Pearl Rd    Parma Hts, OH  44130-3808

phone  440-842-6818   fax  440-888-1377

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