Excel Christian Academy, Inc.
Financial Assistance Information
There are basically four ways to make it easier to meet private school costs: need-based financial aid, merit awards, tuition payment plans, and tuition loans.
- Need-based financial aid: Excel subscribes to a branch of the National Association of Independent Schools (NAIS) called the School and Student Service for Financial Aid (SSS) to determine a family’s ability to contribute to educational expenses.
SSS uses the Parent’s Financial Statement to help make a determination of a family’s need. The Parent’s Financial Statement collects information such as family size, total income, savings, investments, indebtedness, medical and dental expenses, any unusual expenses, and other assets such as home equity.
Families who demonstrate a need may be provided with a grant to lower the amount they must pay to Excel. These grants offset tuition costs for one year. They do not need to be repaid. The money comes directly from Excel’s financial aid budget. Grant amounts may vary considerably as each family’s demonstrated need varies from family to family. Grant amounts are for one year only. Families must re-apply for financial aid grants each year.
Excel’s financial aid budget is limited. Many families require assistance beyond what we can offer through the need-based financial aid.
- Merit Awards: Excel offers a very limited number of merit awards called the Jonathan Friendship Grant. A family must first have a demonstrated need for assistance above 50% of their yearly tuition. A student may then apply for a Jonathan Friendship Grant. Criteria for this Grant include: absence and tardy history, discipline record, academic performance, extra-curricular activities, Christian service, and personal references.
- Tuition payment plans: Excel offers an in-house, 12 month payment plan with no interest. The tuition amount due, minus any financial aid grant awarded, is divided evenly over a twelve month period from June-May.
- Tuition loan payments: Loan programs are usually coordinated between the family and a lender. These programs can make tuition payments more affordable by spreading payments over a longer period of time than tuition payment plans allow.
Applying for financial aid through SSS: Apply early!!! The School and Student Service for Financial Aid (SSS) provide a third party, objective and consistent method of determining a family’s ability to contribute to educational expenses. There is a small, yearly charge to initiate this process that is paid directly to SSS by the family.
Here’s how it works:
- Obtain an Excel Student and Family Application, one per child, from the school office (Elementary or Middle/High).
- Complete the Application and secure the required forms as indicated in the enrollment process.
- Return the Application and required forms to the school office along with the Registration Fee of $125 per child.
- Go to http://www.sss.nais.org to complete and submit the Parent’s Financial Statement. There is a small charge to each family for this service. Families will need to have completed their federal tax return prior to submitting the Parent’s Financial Statement. SSS analyzes the information on the Parent’s Financial Statement to estimate your family’s ability to contribute to educational expenses.
SSS begins processing Parent’s Financial Statements on Nov. 1 for the next school year. SSS stops processing Parent’s Financial Statements on September 15 for the current school year.
- Excel will receive a Report of Family Contribution. We use the results to make a financial aid award decision. Financial Assistance is based upon a family’s demonstrated need for assistance, the amount of funds available each year and the number of families requesting assistance.
- Initial award letters to new families are mailed in early to mid May. Subsequent award letters are mailed every 7-10 days. The award amount is subtracted from the annual tuition. The balance may be paid in a lump sum or divided into 12 equal payments with the first payment due June 1st.
Due Date: Funds are limited and financial assistance is awarded one year at a time. There are no guarantees that you will receive assistance every year that you apply. The earlier you apply the better chance you will have of receiving some assistance. Excel has established that the due date for current students to apply for Financial Assistance is April16. The due date for prospective students is September 15.
Note #1: If a family does not have access to the internet, the school will allow a family to use of one the computers in the Library, subject to availability.
Note #2: In the event that a family feels that they have a unique, hardship situation they may appeal the financial aid award decision.
If you have questions or need further information contact Ann Fox at Excel. You may reach her at 770-382-9488 x 204.