Financial Aid presentation Presented By: Michelle Rupright St. Joseph Parish Business Manager January 11, 2018

Presentation Overview Mission of the Church Current tuition rates and cost per student Forms of Financial Aid What is a School Choice Scholarship and an SGO ? Eligibility and application process for the different forms of aid

Mission of the Church The mission of the Church is to proclaim the love of God revealed by His Son, our redeemer. (Bishop Kevin C. Rhoades) Our Parish supports our Catholic School as one way of carrying out this mission Catholic Schools assist both parents and our parish, as a whole, in this mission of proclaiming the love of God to our young children Fr. Bill has been emphasizing in our staff, council, etc. meetings that we should be mission oriented.

St. Joseph School Tuition Rates Tuition increased substantially for 2017-2018 Registration, tuition, and fees for a family of: 1 student: $3500 2 students: $6500 3 students: $9000 4 students: $11,000 Obviously, the need for student financial aid increases as tuition increases

Cost per Student Year 2015-2016 Year 2016-2017 Total educational expense: $686,328 More than 82% are fixed costs Enrollment: 109 students Cost per student: $6297 (686,328/109) Year 2016-2017 Total educational expense: $700,839 Enrollment: 112 students Cost per student: $6,257 (700,839/112) More students decreases cost per student Cost per student drives tuition rates The gist of this slide is that more students decreases the cost per student

Forms of Financial Aid Parish subsidizes school approximately 40% Diocesan policy is 20%-40% subsidy Actual 16-17 subsidy was 41% of $700,839= $287,138 Actual 15-16 subsidy was 47% of $686, 328=$321,460 Indiana School Choice Scholarships Funded by the State of Indiana SGO scholarships Funded by direct donations to the Scholarship Granting Organization (SGO) Pathway to receiving State Choice Scholarships Tuition Assistance Legacy of Faith, Outside Scholarships, & Scrip

Registered Active Family Registered Non-Active Family Parish Subsidy Cost per student $6, 257 Parish Subsidy Registered Active Family Non-Registered/ Registered Non-Active Family % cost per student 40% 60% 100% 1 student $2503 $3754 $6257 2 students $5006 $7508 $12,514 3 students $7509 $11,263 $18,771

School Choice Scholarships Indiana is committed to providing all children access to quality educational opportunities (DOE) Choice scholarships provide state funding to qualifying students that can be used to offset tuition costs at participating choice schools It is NOT a government handout It is your state taxes that have been earmarked for your child’s education whether it be at a public or private choice participating school, the money follows the student

School Choice Scholarships Continued To qualify, students must meet state requirements : Household size and income requirements Student eligibility criteria or “Pathways” Persons in household Larger Scholarship 2017-2018 Smaller Scholarship 2017-2018 SGO Scholarship 2017-2018 1 $22,311 $33,467 $44,622 2 $30,044 $45,066 $60,088 3 37,777 $56,666 $75,554 4 $45,510 $68,265 $91,020 5 $53,243 $79,865 $106,486 6 $60,976 $91,464 $121,952 Add: $7,733 $11,600 $15,466

School Choice Pathways Continuing Choice Scholarship Student Pathway Previous Choice Scholarship Student Pathway Previous SGO Award Pathway Special Education Pathway “F” Public School Pathway Sibling Pathway Pre-K Pathway-our Pre-K does not qualify at this time For information only: https://www.doe.in.gov/choice

School Choice Application Process Income verification & application are completed by appointment with our school principal through the DOE Bring copy of 2017 Tax Return Bring other income documentation including government assistance, social security, unemployment, and child support Forms to be signed upon completion of application: Summary Sheet, Endorsement Form, and Parent Agreement Applications accepted March 1 – Sept. 1, 2018

SGO Scholarships Scholarship Granting Organization of Northeast Indiana (SGONEI) This non-profit organization receives donations from individuals and corporations for the purpose of awarding scholarships, referred to as SGOs, to students attending Catholic schools in the Fort Wayne-South Bend Diocese Approved by the Indiana Department of Education State law mandate: minimum student SGO scholarship award is $500 Students qualify by household size and income guidelines set by the state Application process same as tuition assistance

Tuition Assistance Fund is supported by second collections at weekend Masses, scrip rebates designated to this fund, ND tailgate fundraiser Must apply online through Facts Grant & Aid Application at https://online.factsmgt.com/aid Deadline: April 30, 2018 Late application may result in less assistance Income verification required Tax return & W-2 statements submitted to Facts

Facts Grant & Aid You must apply through Facts Grant & Aid Application, and your application must be income verified, in order to receive tuition assistance, an SGO, or for the first time receiving a school choice scholarship Current school choice recipients do not need to use the Facts application You must reapply every year for all 3 forms of aid https://online.factsmgt.com/aid

Legacy of Faith, Outside Scholarships, Scrip Legacy of Faith is a diocesan endowment that helps support Catholic schools Prior years we used this towards the school’s general expenses Beginning this current year, we budgeted it for tuition assistance Large Family Fund, Bishop D’Arcy, Maurice & Lucile Wyss Scholarship Scrip rebates can be designated towards your tuition Families should be purchasing scrip if they want tuition assistance

FACTS Tuition Management All families that do not pay in full prior to the first day of school should be signed up for FACTS tuition management Agreement form must be filled out and signed and turned back into the school office EFTs from your bank account to ours Choice of checking or savings account withdrawals on the 5th or 20th of each month Not to be confused with FACTS Grant & Aid

Questions?