How is financial aid determined?

All financial aid at FRA is awarded based on demonstrated financial need – there are no athletic or merit-based financial aid awards at FRA. As with our peer schools, and as required by the TSSAA, FRA uses a third party, FACTS, to evaluate the financial ability of each applicant. Financial need is based on a combination of factors, including income, assets, family size, and expenses. To determine need, FACTS will require the most recent year’s federal tax returns and W-2’s. The Financial Aid Committee uses the estimate of need calculated by FACTS as a guideline in granting aid.

Who can apply?

Financial aid is offered to families with students kindergarten through grade 12. Anyone at those grade levels may apply for financial aid, however, only students who have been accepted to FRA and have completed the financial aid application process will be considered.

Do I have to reapply each year?

Yes. Because a family’s financial situation may change from year to year, awards may be adjusted if a family’s financial circumstances change significantly. However, as long as a student remains enrolled at FRA, financial aid will be renewed based upon demonstrated need. FRA requires that accounts be current in order for a family to be eligible for financial aid. Any student carrying an outstanding balance will not be allowed to begin the school year until the balance has been paid.

How much Financial Aid may I expect to receive?

Each case is considered individually. Only after financial need has been established through the third-party process can the amount of aid offered be determined.

Does Financial Aid influence admission decisions?

FRA’s financial aid process is separate from the admission process. Admission applicants are read without regard for a family’s ability to pay. Request for financial aid does not influence the admission decision.

What about a divorce or step parent situation?

Each parent/family/household, regardless of custodial arrangements, must fill out a complete financial aid application. FRA expects both the custodial and non-custodial parents to participate in the support of their child at FRA. It is up to all parties involved to communicate and participate in good faith in this responsibility. The school will require a copy of the divorce agreement and the parenting plan. In addition, FRA will likely request the non-custodial parent to provide supporting financial documentation. If a child is living with a parent and step-parent, FRA will consider the step-parent’s income.

How are non-income producing parents considered when determining Financial Aid?

If one spouse is unemployed and is not disabled or have extenuating circumstances, an adjustment to the need will be made. The presumption of the financial aid committee is that the parent has the opportunity to work at least part time and contribute to independent education.

What if our financial situation is changing significantly right now?

If extenuating circumstances are affecting your family’s financial stability, document these factors and submit the documentation as a part of your financial aid application.

What should I do if my family’s financial situation is complicated?

Send a detailed letter if there are circumstances that FRA should consider when determining your financial need. Be as specific as possible with dates and figures.

Does the school offer tuition payment plans?

Yes. There are payment plans and options that FRA offers. Please contact Tara Murphy, Controller at 615-369-4573 for more information.

Are there any obligations for students who receive financial aid?

Any student receiving financial aid must maintain good academic standing and adhere to the “Code of Conduct” published in the FRA handbook.

What if I have more questions about Financial Aid?

Contact: Courtney Williamson, Director of Admission and Financial Aid, at (615) 369-4556.