Affording an Academy Education

Many families who might otherwise be interested in an independent school do not seek out this option due to cost. The value of a Grosse Pointe Academy education cannot be measured in dollars, but in the future successes of our graduates in high school, college and beyond. An investment in a Grosse Pointe Academy education provides an advantage that lasts a lifetime.

The Grosse Pointe Academy seeks out many ways to make an Academy education affordable to as many families as possible. In addition, finance plans are available to meet budgeting needs.

For more information about affording the Academy, please contact our Assistant Head of School for Admissions and Marketing, Katherine Thompson at (313) 886-1221 or email kthompson@gpacademy.org.

PAYMENT PLAN OPTIONS
In order to assist families in meeting their financial obligation regarding the payment of tuition, The Grosse Pointe Academy offers two payment plans.

One-Installment Payment Plan
Full tuition balance less the deposit is payable on or before August 1, 2017. If balances not paid in full by September 11, 2017, families must complete the process for transfer to the FACTS tuition management program below.

Multiple Installment Payment Plan
Many families find that a multiple installment payment plan best fits their budgetary needs and makes affording an Academy education manageable. In order to assist them, GPA offers a tuition management program through FACTS. Enrollment is completed on-line.

Families enrolled in the FACTS tuition management program may spread out their tuition payments between July 2017 and April 2018. Automatic payments can be made through a checking or savings account or automatically charged to a credit card (with an administrative fee).

Payment schedules available for school year 2017-2018 include:

  • Monthly payments – July through April
  • Semester payments – July and January

GRADES 1-8 MULTIPLE STUDENT DISCOUNT
The Grosse Pointe Academy offers a 5% tuition discount for the second and any subsequent child enrolled after a first and oldest child is enrolled at full tuition. Students in the Early School are not eligible for the multiple student discount. Such payment for the first child includes any scholarship or need-based tuition assistance.

GRADES 1-8 NEED-BASED TUITION ASSISTANCE PROGRAM (TAP)
The Grosse Pointe Academy supports a strong, diverse student body that values both socio-economic and cultural diversity. The Need-Based Tuition Assistance Program (TAP) has been established to support the mission of The Grosse Pointe Academy and to increase the Academy’s accessibility and affordability.

Our Tuition Assistance Program exists so applicants who demonstrate financial need, as determined by a nationally accepted process and formulas, may be able to attend the Academy. Students in the Early School are not eligible for tuition assistance.

Applications for TAP are to be submitted on-line to the FACTS Grant and Aid Assessment. Upon completion of the application, FACTS will provide the Academy with an Applicant Financial Summary suggesting the “calculated family need.” The Applicant Financial Summary is reviewed and considered by the Tuition Assistance Committee.

YOUR TUITION SOLUTIONS
This is a new offering for 2017-18.  This is a financing option that offers convenient payment plans for K-12 education.

DEADLINES

 

  • February 17, 2017 – Deadline for receipt of verified online application for Tuition Assistance through the FACTS Grant and Aid Assessment
  • March 8, 2017 – Financial assistance decision letters are sent to families whose Tuition Assistance files are complete.  Awards that have been offered and not accepted by March 17, 2017 will be redistributed.
  • March 10, 2017 -Re-enrollment contracts and non-refundable deposit are due for families not applying for financial assistance.
  • March 17, 2017 – Re-enrollment contracts, financial assistance award letter and non-refundable deposit due for families applying for financial aid.
  • We expect to fully expend all tuition assistance resources. Therefore, it is critical for applicants to meet all deadlines indicated.

FREQUENTLY ASKED QUESTIONS

How do I apply for tuition assistance?
Complete the FACTS financial application online at www.factstuitionaid.com by February 17, 2017 for early action tuition assistance.

What is the timing of decisions?
Tuition assistance awards for returning students are made in March. Tuition assistance awards for new students are made in conjunction with the admissions process. Late applicants’ files are reviewed as they are received.

Will my child receive assistance in subsequent years?
A family must reapply for tuition assistance each year. All awards are reviewed annually and will change to reflect changes in the financial needs of the individual family AND the relative need of all families requesting aid.

How is tuition assistance determined?
The Tuition Assistance Committee reviews all applications utilizing the results provided by the FACTS Grant and Aid Assessment. The FACTS recommendation of what a family should reasonably contribute toward tuition serves as the basis of the committee’s determination of the amount to be awarded. Limited tuition assistance resources may make it difficult for the committee to grant all aid requests. In that event, we will start a tuition assistance wait list.

Tuition assistance is given first to currently enrolled tuition assistance students; second to currently enrolled students seeking aid for the first time; and third to already accepted new applicants applying for tuition assistance. It is granted to qualifying students entering grades 1-8. Awards typically range from several hundred dollars to about 75% of full tuition. Full awards are not offered, as parents are expected to contribute some monetary value towards tuition.