Q. Who can qualify for Financial Aid?
A. That answer depends on a number of factors: income, assets, obligations and number of dependents. Families of various income levels may qualify for financial aid.
Akiba Academy follows the financial aid guidelines established by the School and Student Service for Financial Aid (SSS) in determining need. After parents submit their completed questionnaires, SSS processes the information provided and uses a formula to calculate how much a family can afford to spend on a child’s education. The formula takes into account the costs of housing, food, clothing, transportation, insurance, and other non-discretionary expenses that all families have.
Akiba Academy receives a recommendation from SSS suggesting a financial aid range for each family. SSS also sends the school a copy of the information submitted to the service. The Akiba Academy financial aid office also asks families to submit a copy of their current year’s tax returns (uploaded to the SSS website). After all the information has been assembled, the committee makes the final decision on the particular aid package the school may offer a student. All financial information provided to Akiba Academy remains strictly confidential and is used solely for evaluation of the application.
Financial Aid is unavailable for Early Childhood Program students. If a family needs assistance for their Early Childhood Program student they may apply for a Jewish Education Incentive (JEI) Discount. You can find more information here.
Q. What types of assistance are available?
A. Financial assistance may come in the form of Financial Aid or JEI Discounts. In addition to funds available from the school, families may be able to obtain educational loans from banks or other financial institutions. A monthly payment plan is offered as well.
Q. What plans are available for those who do not qualify for assistance?
A. Akiba Academy offers a 10-month payment plan administered through the Akiba business office. The plan allows families to make tuition payments on a monthly basis. This plan will cover all of the costs at Akiba Academy. The 10-month payment plan must be established by May 7, 2018. Payments take place between July 2018 and April 2019.
A. Jewish Education Incentive (JEI) Program is also available to families who do not qualify for Financial Aid. You can find more information here.
Q. What if I do not agree with the Financial Aid offer?
A. You will need to email supporting documents to the Financial Aid Committee that may not have been considered during the application process that show an increase is warranted. Once all of the appropriate documentation has been received, the Financial Aid Committee will set an appointment to discuss possible options.
Q. Can I apply for Financial Aid and the JEI Discount?
A. Only one assistance program may be applied for per student.