Q: HOW IS FINANCIAL AID NEED DETERMINED?
Montverde Academy’s Financial Aid Committee provides monetary allocations strictly based on the following criteria:
- The financial need of the family, as demonstrated through the FAST application and a review of the parents’ prior-year 1040 tax form, W-2’s, and all schedules. The income, expenses, assets, and liabilities of both parents are considered.
- Availability of Montverde Academy’s financial aid funds.
Q: DOES AN APPLICATION FOR FINANCIAL AID AFFECT THE ADMISSION DECISION FOR MY STUDENT?
No, Montverde Academy has an aid-blind admission policy, meaning the Admission Committee members do not know who is requesting financial aid.
ARE THE ARTS AND SPORTS ACADEMIES (MTA, SIMA, CBD, THEATRE CONSERVATORY, MUSIC CONSERVATORY) FEES INCLUDED IN MY FINANCIAL ALLOCATION?
Q: IS THE MEDICAL INSURANCE FEE INCLUDED IN MY FINANCIAL AID ALLOCATION?
Q: IS THE ENGLISH AS A SECOND LANGUAGE (ESL) PROGRAM FEE INCLUDED IN MY FINANCIAL AID ALLOCATION?
Q: IF I LIVE IN A COUNTRY OTHER THAN THE UNITED STATES, DO I NEED TO FILL OUT THE FAST FORM?
Q: IS THERE A LIMIT TO THE NUMBER OF CHILDREN IN A FAMILY RECEIVING FINANCIAL AID?
Yes. At Montverde Academy, only two children per family may receive financial aid at the same time. Only students in Middle and Upper School are eligible to apply for aid.
Q: WILL I HAVE TO REPAY MY FINANCIAL AID ALLOCATION?
No. Financial aid allocations are used to offset your cost of Montverde Academy’s tuition and do not have to be repaid back to the Academy.
Q: DO ALL FINANCIAL AID APPLICANTS RECEIVE FINANCIAL ASSISTANCE IF THERE IS DEMONSTRATED NEED?
No. Financial aid is awarded until the funds are no longer available.
Q: DOES FAST AND THE FINANCIAL AID COMMITTEE TAKE INTO CONSIDERATION ALL OF MY EXPENSES?
The Financial Aid Committee will consider them, but please note that the Academy cannot be responsible for allocating funds to families who make ‘lifestyle choices’ that affect their ability to invest in their child’s education. Examples include high vehicle payments and number of vehicles, more than one owned property, high loans, college tuitions and high vacation expenses.
Q: MAY FINANCIAL AID DECISIONS BE APPEALED?
Montverde Academy uses Independent School Management’s Financial Aid for School Tuition (FAST) to provide a complete analysis of each family’s need for assistance. Financial aid decisions come from the Financial Aid Committee based on careful consideration of the family’s need and availability of funds. Families may file an appeal if there is a major change in circumstances once the application for financial aid has been submitted.
Q: DOES MONTVERDE ACADEMY OFFER APPLICATION FEE WAIVERS FOR FINANCIAL AID APPLICANTS?
No. The application fee is to be paid by the person(s) applying for aid.
Q: WHAT IF ONLY ONE PARENT WORKS OUTSIDE OF THE HOME? MUST BOTH PARENTS BE EMPLOYED TO RECEIVE FINANCIAL AID?
Yes, if all children in the family are in school, and no other dependent lives in the home. In the case of an exception, we will impute a salary for the non-working spouse.
Q: WHAT IF BOTH PARENTS ARE DIVORCED OR SEPARATED? DOES EACH PARENT NEED TO COMPLETE THE FAST FINANCIAL AID APPLICATION?
Yes. Montverde Academy’s Financial Aid Committee will consider both parents’ ability to contribute to tuitions, but not their willingness. The income, expenses, assets, and liabilities of both parents are considered. It is the custodial parent’s responsibility to ensure that the FAST application is completed by all parties and that all required tax documents are submitted on time.