Tuition Assistance

Tuition Assistance Criteria

 

Annual Income

Pre-tax earnings from wages, personal investments, and business investments. The formula that determines a family’s ability to pay considers other expenses than the IRS uses to calculate taxable income. Therefore, all tax schedules must be submitted. If parents/guardians reside in separate households, the income and expenses of both households are considered in the calculation.

​

Assets

If a family has major assets, savings, land holdings, or investments, the formula computes an income supplement that is added to the gross income.

Home equity is based not on market value but on the price paid for the home and the years it has been owned. Generally, this will undervalue the equity. For most, but not all applicants, the additional income inferred from assets is a small factor. However, if the student has assets (savings, trust accounts, etc.), the formula includes them in calculating the amount the parents can pay.

 

Family Size

Living allowance estimates are based on the number of people in a student’s household(s). Income is adjusted by expenditures for housing, food, or medical needs to obtain the available discretionary income.

 

Number of Private School or College Tuitions Currently Being Supported

A family's tuition assistance plan takes into account the number of family members (including adults) attending any tuition-charging elementary school, middle school, high school, or college.

 

Unusual Expenses

The formula for determining the parent/guardian contribution for educational expenses takes into account certain “unusual expenses” such as care of an aging grandparent, parent/guardian educational loan payments, legal fees, closing costs, and other expenses listed in the tuition assistance application.

 

Other Discretionary Costs

The formula expects a family to allocate only a portion of discretionary income to tuition payments. Divorced, Separated, or Never Married Parents/Guardians Tuition assistance is based on the family’s ability to pay as demonstrated by the information submitted in the tuition assistance application. Both custodial and non-custodial parents/ guardians (regardless of legal settlements) who are divorced, separated, or never married are required to submit a separate application.

​

Students with Multiple Households

In the case of multiple households where separated parents in two different households share custody, it is assumed that parents have a joint financial obligation towards tuition (joint custody), and each parent’s financial position will be considered separately based on the percentage of tuition for which they are responsible. Both parents must fill out an individual FACTS application. If one parent claims 100% financial responsibility towards tuition, a legal document demonstrating that sole legal responsibility to support the child is required.

 

Parent with Sole-Custody

In the case of single parent with a 100% financial obligation towards tuition, a legal document demonstrating that sole legal responsibility to support the child is required. In these circumstances only the sole responsible parent must fill out the FACTS application.