Tuition for the 2010-2011 School Year

Tuition Payment Plans

To assist families in budgeting for tuition payments, Minnehaha Academy offers these payment options:

• Prepayment plan – a 3% prepayment discount is offered to families paying in full by July 23, 2010.
• Two-payment plan – Half of the tuition and fees payable by August 5, 2010, with the remaining balance due by January 20, 2011.
• Budgeted payment plan – Budgeted payments are available only through FACTS Tuition Management by automatic bank withdrawal. This option has no interest or finance charges, but has an annual set up fee of $38. Available in 4 quarterly payments (due in July, October, January, April) or 11 monthly payments (July - May).
• Credit card – Payment by credit card is only available through FACTS Tuition Management. Tuition may be charged to MasterCard, Discover, or American Express. Credit card may be used in conjunction with any of the payment options listed above. If you elect to pay by credit card, you will be assessed a convenience fee by FACTS of approximately $2.50 per $100 charged, plus an annual processing fee that varies from $10 to $38 depending on the number of payments selected.

Financial Aid

Minnehaha Academy wishes to serve students who show commitment to learning about the Christian faith and who aspire to academic excellence, personal growth and active participation in school activities. Financial aid based on demonstrated financial need is offered to qualified students as a way to promote equal access to Minnehaha Academy and enhance the socioeconomic diversity of the student population. Through our growing financial aid program, over $1.5 million in need-based aid is awarded annually.

Financial aid is offered in the form of a grant and does not require repayment. Financial aid is awarded for tuition only and does not cover student fees, lunches, transportation or any other incidental expenses. Additionally, only a portion of demonstrated need will be met; as families decide whether to accept a financial aid grant it is important that they carefully consider their financial obligation for the remaining portion of tuition, including fees and other incidental costs of attendance. In recent years, the average grant has been approximately 50% of the cost of tuition.

Decisions regarding financial aid are made separately from the admission process and financial aid applications are considered only after a student has been accepted for admission. Decisions for financial aid begin in early April and continue until all funds are distributed. Financial aid is available to students entering kindergarten through grade 12 and any interested family may apply.

The Financial Aid Process

Minnehaha Academy is a member of School and Student Services by NAIS (SSS), a needs analysis system serving independent schools nationwide. As a member of SSS by NAIS, Minnehaha Academy complies with the NAIS Principles of Good Practice for Financial Aid Administration.

Financial aid at Minnehaha Academy is determined by a family’s ability to meet education expenses. Minnehaha Academy believes the family should be the first resource for funding their children’s education and it is important to note that the financial aid determination is based on demonstrated financial need and not on the willingness or unwillingness to pay.

Each family is expected to pay a portion of the cost of their student’s education or find resources apart from financial aid to fulfill their obligation to Minnehaha Academy. Due to a limited budget and the number of families requesting assistance, all qualified need may not be met.

Families applying for financial aid are required to complete a Parents’ Financial Statement (PFS) and submit it online along with the applicable fee to SSS. Families are also required to submit a signed copy of their 2009 federal income tax return, W-2 forms and all schedules. If applicable, all corporate and partnership/sole proprietorship forms must also be included. Based on the financial information you provide, SSS gives us an estimated amount your family can contribute to educational expenses.

In order to be assured of consideration, families must be timely and thorough in completing the application process.

Applying for Financial Aid

Minnehaha Academy is now accepting financial aid applications for the 2010-2011 school year. The application process is described below. To be eligible for consideration for financial aid at MA, you must complete your online application by February 15, 2010 and submit all required documents to SSS by March 1, 2010. We will communicate decisions about financial aid in early April.

To begin your financial aid application for the 2010-2011 school year, follow these steps below:

1. Go to sss.nais.org and click on the prompt to begin your Parent’s Financial Statement (PFS). You only have to complete one PFS even if you have multiple children applying to our school.
2. You will be given a password that will allow you to return to your PFS at a later date before submitting it.
3. You will be given instructions about submitting required backup documents by mail (**see list of required backup documents below). Your documents will be handled with the utmost level of security. To read more about SSS’s document security, go to sss.nais.org.
4. Mail all required documents to: SSS by NAIS, Application Processing Center, P.O. Box 449, Randolph, MA 02368-0449. (For overnight mail, use this address: SSS by NAIS, Application Processing Center, 437 Turnpike Street, Canton, MA 02021.)

For questions about completing the online PFS form, please contact SSS by NAIS at (800) 344-8328, Monday – Friday: 9am-8pm EST or Saturday: 9am-4pm EST.

**REQUIRED BACKUP DOCUMENTS:

• A completed Parents’ Financial Statement (PFS) and Report of Family Contribution (RFC). SSS will give MA access to these documents after analyzing the completed PFS submitted to them by the applicant family. (see step #1 above)
• Minnehaha Academy 2010-2011 Financial Aid Application Coversheet. Please use the back of this form to explain any unusual circumstances that have affected your family’s financial situation this year that you would like considered.
• A complete, signed copy of all 2009 Federal Income Tax forms, including copies of W-2 forms and all accompanying schedules. If applicable, all corporate and partnership/sole proprietorship forms must also be included. All documents should be mailed directly to SSS (address listed above).
• If you own a business, you must also submit a completed Business/Farm Statement along with all 2009 Federal Income Tax forms and all accompanying schedules for each business owned.
• Optional: 2010-2011 Endowment Award Application.
• A PFS Cover Sheet should accompany all documents mailed to SSS.

The Financial Aid Committee reviews all completed financial aid files and makes a decision based upon each family’s demonstrated need. The Committee may require additional documentation such as bank statements and a monthly budget if more information is needed in order to understand a family’s financial situation.

Important Deadlines

Financial aid funds are limited; applications must be received by the following deadlines to be eligible for full consideration.

Monday, February 15, 2010 – Deadline to complete your PFS online

Monday, March 1, 2010 – Deadline to submit all required documents to SSS

Financial Aid Policies

The following policies govern the administration of financial aid at Minnehaha Academy:

Students with an outstanding balance from a previous school year must make arrangements for complete payment before they will be allowed to register for the next school year or receive any financial aid granted. A financial aid application may be submitted but any grant awarded will be withheld until satisfactory payment arrangements are made with the Student Accounts Office and approved by the President of Minnehaha Academy. Financial aid may be awarded on a provisional basis, contingent on academic or citizenship performance or financial standing.

Renewal of a financial aid grant is based on proof of continued financial need, as well as evidence that the student has exhibited academic progress and good citizenship. Families must re-apply each year and the amount of assistance may change.

Minnehaha Academy believes that both parents have an obligation to support their child’s education. Therefore, in the case of divorced or separated parents, or parents who have never been married, both custodial and non-custodial parents with legal parental rights are each required to submit all of the required financial aid application documents in order for their child to be considered for a financial aid grant. In cases where one parent cannot comply, the custodial parent should submit a written explanation. Lack of information from either parent may cause an arbitrary assessment of financial need to be made by the school, resulting in a lesser award or no award at all.

Confidentiality

The financial aid process is conducted with concern and respect for the family’s privacy. Be assured that all financial information submitted in the financial aid application process held in the strictest confidence by both Minnehaha Academy and SSS.

Questions?

Contact our Financial Aid Office with any questions at (612) 729-8321 or financialaid@MinnehahaAcademy.net.