There are several key factors in determining a family’s financial strength and, therefore, the appropriate Flexible Tuition amount. Within each category are the following items:
Family assets may include: taxable wages, if self-employed, income drawn as salary but not included as business profit, taxable dividend and/or interest income, alimony or child support received, pensions, annuities, rent, royalties, estates or trusts, household expenses paid by separated or divorced spouse in lieu of alimony, unemployment compensation, capital gains, taxable IRA distributions, business profits, Social Security benefits, real estate, vehicles, bank accounts, and other investments.
Expenses and Debt
Typical expenses and debt include: educational expenses, medical/dental expenses, debts for investments, unemployment, prolonged illness, past business debts, legal fees, nursing home/assisted living care, child support, costs for a child with special needs, and child care.
Awards will not be considered unless complete financial information is received from both parents or guardians. If parents are separated, divorced or never married, both parents/guardians are required to complete the Flexible Tuition application.
Number of Private School or College Tuitions Currently Being Supported
A family’s Flexible Tuition amount takes into account takes into account the number of family members attending any tuition-charging elementary school, middle school, high school, or college.