Financial Aid Policies and Procedures

Financial Aid Policies and Procedures Fulton Science Academy Private School (FSAPS) recognizes that financing an independent school education is a maj...
Author: Eleanore West
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Financial Aid Policies and Procedures Fulton Science Academy Private School (FSAPS) recognizes that financing an independent school education is a major commitment for families. Therefore, FSAPS allocates institutional funds and donor contributions toward a designated fund to offer financial aid assistance for students in need. FSAPS also works with the Apogee Scholarship Program (ASP) to provide an opportunity for students who are transferring from a Georgia public school to attend FSAPS who otherwise may not be able to attend. Policies for financial assistance: • Financial Assistance from the Apogee Scholarship Program (State Tax Credit Scholarship Program) is solely based on need. • Scholarships from general financial aid funds can be based on either need or academic performance. The general financial aid funds are donations given to FSAPS from donors other than the Apogee Scholarship Program. • The Financial Assistance Committee will determine the amount of the award based on the amount of available funds, the number of applicants requesting assistance, and the need demonstrated by the applicant’s family. FSAPS will determine whether assistance awards will come from general financial aid funds or Apogee Scholarship Program funds. • The Financial Aid Committee convenes as needed until the funds for the upcoming year are allocated to review the requests and determine if a financial assistance award will be granted, and what amount the award may be. • Financial obligations to FSAPS must be up-to-date for the current academic year for current students and/or registration requirements must be fulfilled for new students prior to consideration of a request for financial assistance. • New students must meet all admission criteria and have received an official admission notification of acceptance prior to consideration of a request for financial assistance for the upcoming school year. • For families who have an unexpected need arise mid-year, a special request can be made to convene the committee. If all criteria are met, and funds are still available, the request will be considered.

• Financial assistance recipients must re-apply and meet all assistance eligibility requirements for financial aid each year. • The completion of the financial assistance application is not a binding agreement that assistance is available or will be granted. • All financial assistance applicants must complete a FSAPS Financial Aid Application and provide tax records to verify eligibility. • The Admission Office will distribute, process, and maintain the records for all financial assistance materials. Communication between the applicant’s family and other FSAPS staff regarding financial assistance awards is prohibited. • Letters of notification with financial aid award information will be mailed or emailed to applicant families upon decision of the award. • In addition to the FSAPS Financial Aid Application, applicants may also provide supplemental documentation to clearly demonstrate the need for assistance. All ASP eligible recipients (students transferring from a Georgia public school to a private school who are entering grades 2 - 8 and all Kindergarten and first grade students must also adhere to the following policies): • Students entering grades 2 - 8 must have attended a Georgia public school immediately prior to FSAPS. • All eligible ASP applicants must provide a current academic year report card to FSAPS. • ASP financial assistance awards range from $1 to a maximum award of 80% tuition assistance per year to any one student through the ASP funds. Any award amount will be applied to the tuition for the academic year it is awarded and remaining tuition due will be divided into ten monthly payments. • Students receiving ASP financial assistance awards are eligible to qualify for continued multi-year ASP assistance awards once a student is at FSAPS. i. ASP recipients must re-apply each year and prove eligibility to receive financial assistance each year through financial aid application and tax record evaluations. ASP assistance awards are not guaranteed to be given each year, nor are the amounts guaranteed to be given. ii. If an ASP assistance recipient withdraws, the ASP funds are reallocated to the ASP fund to be distributed at the discretion of the Financial Assistance Committee to another qualified applicant. Funds are not transferable. If a withdrawal is submitted after the school year begins, the funds returned to ASP are prorated and the account balance is based on the prorated ASP award applied to the account balance. Applications for financial assistance must include the following prior to consideration of the request.

• FSAPS Financial Aid Application must be completed and returned to the admission office. The form is located at www.fultonscienceacademy.org. • All necessary supplemental documentation indicated in FSAPS Financial Aid Application must be provided. • NEW student applicants must submit a check for the first payment of the tuition to the Admission Office to fulfill the registration requirement, prior to consideration of financial assistance.

*RETURN THIS FORM TO FSAPS TO INITIATE APPLICATION FOR ASSISTANCE. This form must be submitted to FSAPS for consideration of financial aid.

FULTON SCIENCE ACADEMY PRIVATE SCHOOL Financial Aid Application Form Parent’s Name(s) requesting financial assistance: ____________________________ Parent email address: _________________________________________________ Parent daytime phone number: • Did the child(ren) you are requesting aid attend a Georgia public school in 2014-2015 school year? ______________ (Yes or No) • Is the parent/guardian completing the form, the parent/guardian that the student(s) resides with? ______________ (Yes or No) Please list the name and grade of all students for whom you are applying for: NAME

GRADE

1. 2. 3. List any other dependent children: NAME

SCHOOL

1. 2. 3. What is the amount of tuition that your family could afford to pay monthly (based on a ten- month payment plan?) (If more than one child (Grades K-8) is applying for assistance, please write the monthly amount for each applicant.) Monthly payment amount (per child): Number of adults living in this household:

(based on 10 months) ____________

Number of children living in this household: ____________________________________ Please write adjusted gross income for your family from your tax records: _____________

If you are filing your tax records separately, please write your adjusted gross income for your spouse as well: _____________________ As of today, what is your total current balance of cash, savings, and checking accounts? _________________________________________________________ As of today, what is the net worth of your investments, including real estate? ________________________________________________________________________ As of today, what is the net worth of your current businesses? _________________________________________________________________________ Do you own a home? __________________________________________________ If yes, what is the total value of your home? What is your monthly mortgage payment? ______________________________________________________ If no, what is your monthly rent payment?____________________________ List the make, model and year of the vehicles in your household. ___________________________________________________________________ ___________________________________________________________________

List the annual income you receive from the following sources: Child support: ______________________________________________________ Social Security Benefits: _____________________________________________ Temporary Assistance for Needy Families (TANF): __________________________ AFDC / ADC: ____________________________________________________ Food stamps: _ ____________________________________________________ Tuition support anticipated from friends/relatives: _________________________ Workers' Compensation:____________________________________________ Other nontaxable income: _ __________________________________________

Required Documentation – Please return with your application * You will need copies of your 2014 IRS federal income tax return 1040 or 1040A Tax Return (2 pages), including all supporting tax schedules (Schedule C, E, F). If you are self-employed or have business income all supporting documents are required. (State income tax returns are not required.) * You will need copies of your 2014 W-2 and/or 1099 forms for both you and your spouse. * Supporting documentation for Social Security Income, Welfare, Child Support, Food Stamps, Worker’s Compensation, and TANF. It is imperative for the committee to understand your request and need. Please write any explanations, comments, or unusual circumstances that concern this financial assistance request: ___________________________________________________________________ ___________________________________________________________________ ___________________________________________________________________ ___________________________________________________________________ ___________________________________________________________________ ___________________________________________________________________ ___________________________________________________________________ ___________________________________________________________________ ___________________________________________________________________ We understand that we are authorizing Fulton Science Academy Private School to verify any of the information in this assistance application and understand that all information is subject to verification. We declare that the information represented on this form, to the best of our knowledge and belief, is true, correct, and complete. _____________________________________ Signature of Parent(s)

____________________ Date

Fulton Science Academy Private School does not discriminate on the basis of race, color, or national origin in administration of its educational policies, admission policies, financial assistance, or employment practices.