Need-Based Financial Assistance
Giving your child a Montessori Education may be the edge they need to realize their dreams. The aim of Montessori education is to foster competent, responsible, adaptive citizens who are lifelong learners and problem solvers. Choosing to attend an independent school is an important decision and is not without financial impact. Of course, we feel our families ultimately discover that providing their children with a solid foundation leading to a productive and connected life pays dividends beyond their expectations.
At HCMS, we strive to maintain a socio-economically diverse student population. While numerous financing options are available, it is up to each family to determine the option best meeting their needs. HCMS is able to provide a limited financial assistance pool for families who are unable to meet the full costs of our program. The following guidelines describe our Financial Assistance Program.
Guidelines
- Applicants must complete the admissions process and be accepted to the school under admission guidelines. Eligibility for admission is not based upon a family's financial circumstances.
- All applicants must complete the financial assistance process.
- HCMS will review each application as it is received and dispense funds as long as they are available.
- Awards are based on need and do not reflect academic skills or other talents.
- For families who do qualify for assistance, HCMS can fund up to 60% of the annual tuition fee for a limited number of families. Additional programs, such as extended care or after school resources, are not considered for financial assistance.
- Families must reapply each year and the amount awarded may vary from year to year depending on financial circumstances and availability of stipend funds.
- Information and documents related to a family's financial assistance application and award are strictly confidential.
Applying for Financial Assistance
HCMS uses FAST Financial Aid for Student Tuition to collect basic financial information. To ensure a fair and accurate assessment is made, it is important for applicants to address all financial assistance documents with total discosure and candor. FAST then prepares a needs analysis from the information provided and suggests the amount a family can contribute for educational costs. Information gathered by FAST establishes a starting point for the HCMS Financial Assistance Committee to determine how much financial assistance will be offered.
Applicants are required to submit copies of the following documents to FAST:
- Form 1040 (Statement of Federal Income Tax)
- All W-2s (Wage & Tax Statements)
- All 1099s (Miscellaneous Income Forms)
- All applicable tax schedules
- Student applicant's tax return, if he or she is required to file
In case of divorce or separation, both the parent with whom the student resides, as well as the non-custodial parent, should complete a FAST application. The family's ability to contribute is based upon both parents' income and assets. In addition, HCMS may request divorce decrees and any child support documentation.
FAST Financial Aid for Student Tuition can be submitted online at http://www.ismfast.com beginning January 1 of the year for which they are applying. Hard copy applications are also available in the HCMS office and can be mailed.
FREQUENTLY ASKED QUESTIONS
Who may apply for financial assistance?
Any student offered admission to HCMS for the upcoming academic year or any current students enrolling in HCMS for the following academic year and are in good financial standing with HCMS.
Where and when do I obtain an application for financial assistance?
Families may apply online at http://www.ismfast.com.
Is there a fee to apply?
Yes, FAST charges a fee for their services. The fee for the 2010-2011 school year is $30.00. Information regarding fees and instructions for filling out the appropriate forms can be found on the FAST website.
When should I apply?
Applications for each school year can be submitted online beginning January 1 of that year. Applications received after April 1 of that year will be reviewed based upon availability of funds.
May I submit an application after the deadline has already passed?
Yes, but funds are limited. HCMS will review each application as it is received and dispense funds as long as they are available.
How much assistance may I expect to receive?
If you qualify for the full amount of financial assistance available, you may receive a maximum of 60% of the annual tuition. Smaller awards may be offered.
If my family income is $XX,XXX per year, do I qualify? Should I bother filling out an application?
Each family situation is unique and many factors are considered when assessing financial need. Therefore, we are unable to make any determinations for eligibility until all documents have been reviewed.
Is this a loan? Does the money have to be repaid?
Financial assistance received from HCMS is not a loan; it does not need to be repaid. However, due to the limited funds available for financial assistance, we always like to inform families of the low interest educational loans available to qualified families through private institutions. HCMS encourages eligible families to pursue outside funding opportunities.
The following companies are NAIS corporate subscribers offering K-12 tuition loan services:
Hill Country Montessori School, Inc. does not discriminate on the basis of race, color, religion, sex, nationality or ethnic origin in the administration of its policies or procedures.
