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FAQs About Financial Aid

What type of financial assistance is available?

Robert C. Parker School offers needs-based assistance to current and incoming families in grades K – 8. Awards are grants and do not require repayment. Loans are not available.

Merit scholarships are available for two students from The Ark Community Charter School through the Murnane Scholars Program.

The school allocates 15% of annual tuition revenue to financial assistance. Awards range from 7% to 50% of a student’s tuition. Approximately 30% of students receive financial assistance.

Who is eligible to apply for financial assistance?

All current and prospective families who have applied for admission to Parker are welcome to apply for financial assistance.

Does applying for financial assistance influence the admission decision?

Parker accepts students based upon their potential to be successful at the school. Application for financial assistance is confidential and separate from the admission process.

Do I need to apply for financial assistance before I know whether my child has been accepted?

Yes. Financial assistance requests must be made and all required forms received by February 15.

How is financial need determined?

A family’s need is determined by FAST (Financial Aid for School Tuition), a widely used third-party assessment tool.

Awards vary depending upon the FAST assessment and the amount of aid available in the school budget.

How is the family contribution determined?

Many factors are taken into consideration by FAST when determining the family contribution, including family income, assets, expenses, qualified debts, family size, age of parents and number of children in tuition-based institutions. FAST weighs these factors in calculating a family’s discretionary income and ultimately its share of tuition.

What is the deadline for applying for financial assistance?

The deadline for completion of all forms is February 15.

Is financial assistance automatically renewed each year?

No. Families receiving financial assistance must re-apply each year. Changes in income, family status and other circumstances may alter the amount of an award from year to year.

What if my financial situation changes during the school year?

No reduction will be made in an original award, even if a family’s financial circumstances improve during the school year. However, if a family’s financial health declines significantly during the school year, we urge you to contact the Parker Business Office. If funds are still available in the financial assistance budget, every effort will be made to recalculate the family’s award.

How much does it cost to attend Robert C. Parker School?

Tuition for each school year is set by the Board of Trustees at its January meeting. Re-enrollment packets, including a tuition statement and payment plan information, are mailed out in February to all current families. Tuition is set for one year only.

Are tuition payment plans available?

The school offers three payment plans.

  • Pay full tuition (less deposit) by June 30
  • Pay 50% of tuition (less deposit) by July 1, 50% by December 1 through FAST
  • Make equal monthly payments for tuition (less deposit) through FAST

When will I be notified of a financial assistance award decision?

If all required forms are completed by the February 15 deadline, families will be notified of a decision in March.

What if my taxes aren’t ready until close to the April 15 deadline? Can I still apply for aid?

You need to complete your taxes early enough to meet our February 15 deadline in order to apply for financial assistance. A draft copy of your Federal Form 1040 is acceptable for February 15, but the final return must be received by March 1.

My spouse is unemployed. How will that affect my financial assistance award?

Families bear the primary responsibility for financing their children’s education. It is expected that both parents will contribute financially. However, family circumstances vary and applications are individually evaluated by FAST.

What happens if parents are separated, divorced or remarried?

Both parents, regardless of their marital status, are expected to provide financial information to Parker and FAST.

I think our family makes too much. Is it still worth applying?

Many factors beyond income affect award decisions, and Parker is committed to helping a broad spectrum of families. Families with more than one child attending the school may be eligible for a sibling discount.

Family Income

Share of Awards

Up to 60,000 36%
$60,000 – 100,000 40%
Over $100,000 24%

Email Beth Chapados with additional questions. Questions submitted by email will be held confidential.

Beth Chapados
Business Manager

bchapados@parkerschool.org

 

 

Email additional questions to: Beth Chapados, Business Manager

 

 


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