Financial Aid

Common financial aid questions from parents
& helpful answers from Jon Keith, Chief Operating Officer

1.
What is the actual cost of a Wheaton Academy education? Our annual tuition rate for the next year is typically published by February or March each year. Increases tend to range from 2-5%. The 2009-2010 tuition rate is $11,700. However, it is important to keep in mind that only about 60% of our parents pay the full rate. Recently, 40% of our families have benefited from some form of a discount based on family resources. Fees and book rental generally run around $900 per year. There is also finance charges associated with various payment plans.
2.
Does WA help those families with more than one child enrolled? Absolutely. If a family feels like they have a need, we encourage them to participate in our financial aid program. While we don’t have an automatic discount for 2nd or 3rd children enrolled, we do give special consideration to those families when evaluating their aid applications.
3.
Since WA’s tuition is higher than my student’s current school, how can I afford this jump in tuition? While our initial ‘sticker price” is often higher than area Christian K-8 schools, the key consideration is the actual cost after discounts. WA has an unprecedented commitment to financial aid to make Christian education affordable to most families. We regularly commit 15-20% of our annual operating budget to financial assistance. Last year, that amounted to over 1.5 million dollars. As you compare WA’s level of aid budget to other schools’, you will gain a more complete picture. Many parents actually find WA is often priced (net cost after aid) equal to, or less than, other area schools.
4.
How much aid would I qualify for? Unlike some schools, we don’t have a simple formula that answers the ultimate question. Because we are committed to looking at and understanding your financial situation from a comprehensive point of view, we resist publishing absolute ratios. We understand that today’s income is not the sum and essence of your situation. Many variables have already taken place or may still be relevant (past job loss, extended family obligations, unusual medical expenses, real estate transactions, etc.). We do give special consideration to those with multiple children in Christian schools and those in full time ministry. Accordingly, we encourage everyone who feels they can’t afford the “sticker price” to apply and see how we can help. We realize that many will never be able to afford the full price. We are committed to providing support. We also realize some may be going through a down time financially and will likely recover in a year or two. We strive to support families in these situations.
5.
Ok, but is there any way to predict a range of what I might be eligible for? We tend to see three types of applicants. Those with under $50,000 of annual income are typically eligible for a significant award (up to 80%). Those with income between $50,000-100,000 are often eligible for awards up to 60%. Those with incomes over $100,000, having impactful factors, are also potentially eligible. If you have a need, we encourage you to apply.
6.
I have reviewed the online aid application process through FACTS, but how can we communicate our unique situation that doesn’t fit in boxes and numbers? We always welcome personalized explanations. Just send a letter or email directly to the attention of Sandy Dede, Finance Manager, and it will be included in the final consideration by the school. We understand every family situation is different and has arrived to this point from a unique path.
7.
How is my confidential family information handled? WA cares deeply about respecting your privacy. FACTS, our outsource aid service, is a very reputable firm that provides the initial evaluation step. FACTS serves thousands of private schools and has an established confidential and reliable process. After FACTS finishes their evaluation of your application and tax forms, they send us a recommendation for an award. Our business office personnel designated to process financial aid, Mrs. Dede (Finance Manager) and Mr. Keith (Chief Operating Officer), then review the FACTS recommendation and bring in any additional personalized information that you have sent WA. Your family financial information or aid award amounts are maintained within the business office exclusively.
8.
What is my responsibility in the process? It is very important each family completes their part in a timely process. Established expectations with deadlines are clearly explained and real. Because we process over 250 applications, we must insist that parents take the responsibility to get all their required information in on time. If you miss a deadline, you are welcome to get your materials in for the next batch.
9.
Is it important to get my application in early? Yes. Even though we have a very generous budget, it is a budget that we keep. Accordingly, funds tend to run out each year before applications. Earlier is always better.
10.
What do you suggest if we still can’t afford WA after receiving an aid award? Many families use a variety of sources to help fund their child’s education. Extended family (grandparents, aunts, uncles) are often able and interested in helping. Occasionally churches have Christian education support funds. Many parents don’t realize that educational loans, often associated with funding college, are often available for high school as well. We also encourage families to explore potential new sources of income (spouse work, teenager summer job, etc.).
11.
Is Christian education and Wheaton Academy really worth it? Thousands of parents over many decades have answered that question with a resounded “YES!” God has entrusted all of us with financial resources. Some more, some less than others. But, we believe that there are very few things more important than our children’s education. We only get one shot. Christian education has eternal significance. Wheaton Academy is prepared to partner with you.
12.
What if I have more questions?
Please contact Sandy Dede (Finance Manager) for process questions, sdede@wheatonacademy.org or (630) 562-7515; or Jon Keith (Chief Operating Officer) for award or general questions, at jkeith@wheatonacademy.org or (630) 562-7502.