utm_campaign=5662-511A&utm_medium=email&utm_source=email Financial Aid & Scholarships | incarnatewordacademy
PurpleStar PNG.png
  • White Instagram Icon
  • White YouTube Icon

Contact Us

Tel: 440-842-6818

Email: mkonopka@incarnatewordacademy.org

Address

6620 Pearl Rd

Parma Heights, OH 44130

© Copyright 2018 by

Incarnate Word Academy

Financial Aid

 

FINANCIAL AID

 

We are aware of the many sacrifices that families make to send their children to Incarnate Word Academy and take great care each year to grant assistance to K-8 families in need. Tuition for the 2019-20 school year is $4,225.

 

We work with each family to ensure that applying for tuition assistance and scholarships is as simple and seamless as possible. We realize that this process can be daunting and overwhelming, so please feel welcome to contact us with your questions (440) 842-6818.

 

Incarnate Word Academy offers need based Tuition Assistance for students in grades K-8. All families who would like to apply for Tuition Assistance for the 2019-2020 school year must complete a FACTS Grant & Aid Assessment to gather and analyze family financial information to assess a Parent’s ability to pay tuition. This application must be completed each year to be considered for tuition assistance.

 

FACTS Grant & Aid Assessment Application and all supporting documents must be completed no later than March 31, 2019.  After completing the online application, you will need to upload or fax all the required supporting documentation.  Uploaded documents must be in a PDF format and the size of each document must be less than 20 MB.  Please DO NOT use your mobile device to photo copy required documents due to legibility

 

• Only one application needs to be completed for all schools which use the FACTS Grant & Aid Assessment program to which the student is applying.  If you completed an early application at another school for a prospective freshman utilizing FACTS Grant & Aid Assessment (based on your 2017 tax return), you need to go back and update your information based on your 2018 tax return and other required data.  Incarnate Word Academy requires all 2018 documents to complete the application.

The following supporting documents are required to complete the application process:

  • 2018 IRS Federal Income Tax Return, including all supporting schedules.  If applicant ad co-applicant file separately, we require both tax returns for the same tax year.

  • Copies of all 2018 W-2 Wage and Tax Statements for both the applicant and co-applicant.

  • Copies of all supporting tax documents if you have business income/loss from any of the following:

    • Business - send Schedule(s) and Form 4562 Depreciation and Amortization

    • Farm- send Schedule(s) and Form 4562 Depreciation and Amortization

    • Rental Property -  send Schedule(s)

    • S- Corporation - send Schedule(s), Form 1120S (5 pages), Schedule K-1 and Form 8825

    • Partnership-  send Schedule(s), Form 1065 (5 pages), Schedule K-1 and Form 8825

    • Estates and Trusts-  send Schedule(s), Form 1041 and Schedule K-1

  • Copies of all supporting documentation for household Non-Taxable Income such as

    • Social Security Income, Welfare, Child Support, Food Stamps, Workers 'Compensation and Temporary Assistance for Needy Families (TANF).   If you do not file a tax return, you are required to provide documentation of all income received.

 

 

 

• Any divorced households must include with their application a copy of the divorce decree and child support agreement. If both parents are responsible for tuition, then both parents must apply and include the required financial information.

 

• Any single or unwed parents must supply a copy of the child support agreement relating to the child attending Incarnate Word Academy and include the income on the application.

 

• The amount of Tuition Assistance, if any, is based upon a family’s financial need. Incarnate Word Academy strives to assess each family’s financial situation based on their unique circumstances. Complete, accurate and timely information is required. Applications submitted after the deadline and/or with incomplete or inaccurate information will not be processed.

Frequently Asked Questions

Important Dates

FACTS Application Due

March 31, 2019

Must submit FACTS application by March 31, 2019 to be considered for Scholarships.

Financial Aid & Scholarship Award Letters

Distributed first half May 2019

Diocesan Tuition Assistance Awards

June 2019

SCHOLARSHIPS

 

Thanks to the generosity of our donors, several scholarships are available for current students.

 

Scholarship Opportunities for Current K-7th Grade

The following scholarships are available for current K-7th grade IWA students.  FACTS form must have been filed for 2019-20 school year:

 

The Janet Walters Biernacki Memorial Endowed Scholarship

The Friends of Sr. Eileen Fitzgerald Endowed Scholarship

The Sr. M. Gabriel O'Regan, SIW Scholarship in Memory of John. R. Kessler

The Sr. Ambrose Memczick-Pat and Beatrice Catanzarite Memorial Endowed Scholarship

The Sr. Ambrose Memzcik, SIW Scholarship

The Donald and Catherine Noga Family Endowed Scholarship

The Sr. Mary Ellen Ryan, SIW Scholarship

The Sr. Vincent Neville, SIW Scholarship

The Carol A. McDaniel Memorial Endowed Scholarship

 

Awards are given based on financial need and student character.

 

 

Scholarship Opportunities for Current 8th Grade Students

Scholarship applications will be available in the school office the week of April 14th for those who have at least a 3.0 grade point average. Only the student may request an application and will receive an application scholarship number for student anonymity. The following organizations are a part of the application process: Athletic Association, PTSU, and Student Council. The Music Boosters will use their own criteria.

 

Current 8th grade students intending to attend a Catholic High School may apply for the IWA Alumni Association Scholarship.  Applications will be distributed in homerooms in April 2019.

FREQUENTLY ASKED QUESTIONS

 

How do I apply for financial aid and scholarships?

Incarnate Word Academy uses the FACTS Grant & Aid Information application to assist in determining each student’s financial need. You can access this form online. You must complete the form online. The application and all required documents must be submitted by March 31, 2019. The online fee is $30. Please be assured that all financial information is strictly confidential.

 

Please note that a FACTS Grant & Aid applications must be submitted to apply for IWA Scholarships.

 

Does FACTS decide how much financial aid I will receive?

FACTS is a third party vendor who accumulates the information provided on the applications and determines a student’s financial need.  The individual school, including Incarnate Word Academy, will make an award based upon that need and the financial resources available to the school.

 

My child is considering several schools. Do I need to fill out a FACTS application for each school?

No, if the other schools use a FACTS Grant & Aid application.  Simply add the other schools to your FACTS application form. There will be an opportunity to add additional schools at the beginning of the online process, and also when you enter your child's information. FACTS will ensure that information is available to all requested schools, who contract with FACTS.

Please be sure and check with the other schools as to what vendor they use for their financial aid assessment.

 

I have other children attending different high schools or elementary schools. Do I need to complete another FACTS application for them?

Incarnate Word Academy uses the same form for all of its students, but each school sets its own deadline and requirements and selects its own vendors.  You should follow up with the other schools for their deadlines and aid assessment vendor.

 

I completed an early FACTS application for my prospective freshman using my 2017 returns as required by the high schools.  Do I need to complete another FACTS application?

No.  You are able to return to your original application and update it with your 2018 information.  Be sure to update your application, add Incarnate Word Academy as an additional school and send FACTS your supporting documentation via upload of documents.  It is important to note that you will need to provide updated tax returns and supporting documentation to be considered for IWA financial aid.

 

This FACTS form asks for 2018 tax return information. Since then, I have lost my job. Will that be taken into consideration?

Yes. In addition to requesting 2018 tax return information, the form also requests estimates for 2019. There is a question that allows you to indicate any reduction in income and to provide additional information you feel is necessary in reviewing your application. In these circumstances, the Finance Office will contact you regarding your particular situation and will revise the student need calculation based upon current family income.  Please remember that it is the responsibility of the parents to notify the Finance Office of any significant changes in financial circumstances.

 

Is there a maximum income threshold to qualify for financial aid?

The FACTS application takes into consideration several factors, including income, certain assets, family size and number of children in tuition charging schools, so there is no set minimum or maximum income that can be shared that would apply to all.