Dear Covenant Families,

Covenant desires for our classical, Christ-centered education to be accessible to all mission-fit families. Accordingly, our tuition structure takes into account the financial needs of some of our families by assigning a portion of our tuition revenue to be disbursed as tuition assistance awards. We will use the FACTS Grant & Aid program to assist in the stewardship of these funds. These annually budgeted tuition assistance funds are awarded to qualifying families on a first-come, first-serve basis prior to deadlines.

The online link to apply for the 2023-2024 FACTS Grant & Aid award is now open.

DATES TO REMEMBER:

Following the timeline below helps the school best steward these limited resources and will ensure that we can communicate your preliminary Grant & Aid tuition assistance award prior to January 17, 2023, which is the final day that families can opt-out of continuous enrollment by submitting a withdrawal form for non-returning students.

November 30, 2022: Last day for online application submission to FACTS Grant & Aid
December 31, 2022: Preliminary awards will be communicated to families at the start of re-enrollment
March 13, 2023*: Deadline for FACTS Grant & Aid receipt of official 2022 tax documentation for verification processing
April 21, 2023: Final awards based on tax verification will be available
April 28, 2023: Deadline to opt out of contract in writing if final award is less than preliminary award

*Please note that failure to provide official tax documentation to FACTS by the March 13, 2023 deadline may result in the cancellation of your financial aid application, and you will be responsible for the full tuition contract cost for your student(s) for the next year.

DETAILS ABOUT TUITION ASSISTANCE AT COVENANT:

  • Administrative Fee: A $40 administrative fee is collected by FACTS Grant & Aid to manage our financial aid program. This cost is per family, not per student. There are no additional fees collected by Covenant for this process.

  • Award Basis: Consideration of financial aid is only based on the Option 1 Tuition amount per grade after the 10% deposit has been taken out. The Grant & Aid award does not include funds to pay for the tuition deposit, the facility fee or the senior trip portion of tuition. (The senior trip is included in the published tuition rates for 8-12th grades only.) The senior trip and the deposit are deducted before the award percentage is applied. Covenant financial aid cannot be higher than 50% of the cost of tuition remaining after paying the deposit and fees. The facility fee will be billed to your account in full after enrollment is processed.

  • Preliminary Award: This preliminary tuition assistance award is based on estimated 2022 financial information provided by the family since some of the tax information is not yet available and estimates are used to fill out the application. The preliminary award is communicated in late December and must be verified by tax documentation before it becomes final and applied to your tuition account. It is very important to provide the most accurate estimates of your 2022 income possible in the preliminary process. If only one parent receives income, please list that parent and their information as the applicant. Please do not use older tax returns to complete the application. Please enter your total estimated household 2022 income when asked for Applicant Total Income (Gross) from your most recent tax return.

  • Final Award: The final tuition assistance award will be based on verified financial information as supported by official tax documentation. The final award will be determined by April 21, 2023, and may be less, the same or more than the preliminary award.

POSSIBLE AWARD SCENARIOS:

  • If your final award is less than the preliminary award, you will be given until April 28, 2023 to cancel your tuition contract – in writing – based on the lower financial aid offered. If you do not communicate your desire to be released from the contract in writing by that date, your award will be applied to your tuition at the final award level.

  • If your final award is the same or higher than the preliminary award, the final award will be applied to your contract.

Please feel free to contact me with any questions. I am more than happy to assist you through the process. The help number on the FACTS website is also very helpful should you need assistance during times that I am not available.

Sincerely,
Aimee Sapp
Finance Coordinator
817-820-0884 ext. 8114