Tuition Assistance FAQs
What is tuition assistance?
Albuquerque Academy evaluates family financial resources according to policies grounded in fairness and equity and following the National Association of Independent Schools’ best practices for financial assistance programs. First and foremost, families are expected to use their own resources to make a maximum and honest effort to pay for their child’s tuition at Albuquerque Academy. Tuition assistance may help some families cover the gap between what they can be expected to pay — based on the evaluation of their financial information — and the full tuition expense.
The decision to enroll your child at Albuquerque Academy may require you to reframe your financial priorities and expectations and adjust how you spend your discretionary income on a year-to-year basis.
How do we apply for tuition assistance?
What does tuition assistance cover? What does it not cover?
- Required course materials and textbooks purchased from our bookstore
- Some or all of the cost of some school trips
- A calculator
- Some or all of the cost of a laptop for students in grades 8-12
In addition, tuition-assistance recipients are not charged the non refundable $1000 deposit charged to hold their child’s enrollment spot for the upcoming school year.
Assistance does not cover approximately $250 – $350 related to fees and other supplemental expenses for:
- Dues for the parent association
- Tuition refund insurance annual premium
- Student accident insurance annual premium (required if your child has no health insurance coverage)
- Incidentals and supplies needed for class and extracurricular activities
How is tuition assistance eligibility determined?
Considerations for eligibility:
- Income including wages/salary earned by adults in the household(s) that support the student, rental income, social security, other types of taxable and nontaxable income
- Assets such as real estate equity, bank accounts, 529 accounts, investments, business assets
- Financial obligations related to living expenses, healthcare costs, and tax liabilities
- Profit and losses for self-employment or privately held business interests
- Household size
- Enrollment of other children in tuition-charging schools
How is tuition assistance awarded?
Tuition assistance is typically renewed each year for returning students who demonstrate, through their updated tuition-assistance application, that financial support is necessary to continue enrollment.
It is our goal to award 100% of the amount for which the admitted student qualifies.
What is the average income of a family that qualifies for assistance?
We are happy to schedule a personal consultation with you to discuss your financial situation and if it makes sense for you to apply.
What happens in cases of divorced, separated, or never-married parents and blended families?
We understand that issues with non-custodial parents/guardians can be complicated. Please contact Emily Kienzle if extenuating circumstances exist regarding your child’s other biological parent. In some cases, the custodial parent may request that the requirement for the tuition-assistance application and required tax documents from the child’s second, non-custodial parent be waived.
Must both parents be fully employed to receive tuition assistance?
Are there special instructions for families who have multiple children applying for assistance?
What results are possible if we apply for tuition assistance?
- Tuition Assistance Awarded: Your child has been selected to receive a grant.
- Tuition Assistance Waiting Pool: Due to limited resources, no grant is awarded even though your family qualified for assistance. The TA wait pool allows accepted students who did not receive an award with their initial notification to remain eligible for any funds that become available later in the spring or summer. The TA wait pool does not hold a child’s enrollment spot beyond the enrollment contract deadline for newly admitted students.
- Does Not Qualify: No grant is awarded. What your family is expected to pay towards the tuition expense (aka the”family contribution”) was enough to cover the full cost of tuition.
- Incomplete Application: No grant is awarded. Your family’s application was not submitted or was missing required documents. To avoid this result, check email frequently and comply with all requirements and requests.
Students who receive an “Admission Waitpool” or “Deny” decision will not receive a tuition-assistance decision.
When will we know if we received a grant?
If we receive tuition assistance, will my child receive a similar grant in future years?
Must I reapply for tuition assistance each year?
Is tuition assistance available to current students who have not previously received assistance?
What should I do if my financial situation changes?
Do you accept appeals?
Who sees our family’s tuition assistance application and required documents?
If you have a question that was not answered here, please contact:
email@example.com or (505) 828-3352