Understanding Faith Academy Tuition and Financial Aid Options
Choosing the right educational path for your child is a significant decision, and understanding the financial aspects is a crucial part of that process. Faith Academy, encompassing both Faith Christian Academy & Preschool and Faith Christian Preschool (FCP), offers a range of programs from preschool through 12th grade. This article aims to provide a comprehensive overview of tuition, fees, and available financial aid options at Faith Academy, drawing upon provided information to offer clarity for prospective and current families.
Tuition Inclusions and Additional Costs
Tuition at The First Academy covers many essential components of the educational experience. While tuition covers many essential components of the educational experience, some opportunities extend beyond what is included in tuition. The First Academy is pleased to offer a wide range of extracurricular activities, such as fine arts, athletics, and our Academies. Participation in these programs may involve additional costs and fees based on each student’s interests.
Additionally, for families who need care after the school day ends, The First Academy offers After School Care following dismissal.
Payment Plans and Methods
Faith Academy utilizes FACTS Tuition, a third-party company, for aid assessments and tuition management. They offer two primary payment options: monthly and annual.
Monthly Payments
Monthly Payments will be withdrawn by FACTS Tuition from a bank account. Pay dates to choose from are the 5th of each month. For monthly payment plans, there is a one-time service charge of $300 per student.
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Annual Payments
Annual tuition payments are due by April 5. FACTS tuition will bill the full tuition in April for the upcoming school year, and the invoiced amount will include a 1% discount. Payments can be made to FACTS by check, checking account withdrawal, or credit card.
Financial Aid and Scholarship Opportunities
Faith Academy recognizes that affording private education can be a challenge for many families. Therefore, they offer several financial aid and scholarship programs to help make education accessible.
Need-Based Financial Assistance
FACTS Grant & Aid Assessment determines eligibility for need-based financial assistance. Tuition assistance is available only to enrolled families at Faith Christian Academy. Tuition Assistance funds are limited and awarded based on financial need and other qualifying factors. New families must apply for admission to FCA and complete enrollment before being considered for tuition assistance. Current families must submit an annual application through the FACTS Grant and Aid system and pay the required non-refundable $45 fee. Tuition Assistance can only be applied to “On-Campus” students entering Kindergarten -12th grade. To apply, complete the FACTS Grant & Aid for Tuition Assistance application, with a $45.00 non-refundable application fee. The application will require you to upload your tax returns and W-2s.
Family Empowerment Scholarship Program
The Family Empowerment Scholarship Program was enacted in 2019 and is designed to give more families access to private school education.The Family Empowerment Scholarship for Educational Options (FES-EO) scholarship is accepted for students in The First Academy’s 5-day program in grades TK-12. To be eligible to receive this scholarship, your family must meet certain income requirements. The Family Empowerment Scholarship for Students with Unique Abilities (FES-UA) is different than other state scholarships in that it allows parents to personalize the education of their children with unique abilities by directing money toward a combination of programs and approved providers. These include schools, therapists, specialists, curriculum, technology - even a college savings account. Families who receive the FES-UA scholarship for at least one student in their family, automatically qualify for the FES-EO scholarship for all other K-12 students in the family, regardless of household income.
Personalized Education Program (PEP)
The Personalized Education Program (PEP) is an education savings account (ESA) funded by the Florida Tax Credit Scholarship Program. This scholarship is available to Florida residents who are not enrolled full-time in a public or private school, allowing them to access a portion of the per-pupil funding. At The First Academy, this scholarship is accepted for students enrolled in our Hybrid Home+School program who meet the state’s PEP requirements.
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Florida Tax Credit Scholarship (FTC)
The Florida Tax Credit Scholarship (FTC) and the Family Empowerment Scholarship for Educational Options (FES-EO) are state-funded scholarships available for all students entering grades K-12. Click the link below to learn about scholarship details and application requirements.
Additional Financial Strategies
Beyond traditional financial aid and scholarships, families can explore other avenues to help manage tuition costs.
Coverdell Education Savings Account (ESA)
Parents who meet certain income guidelines are eligible to contribute up to $2,000 per year to a Coverdell ESA. Contributions are made from your after-tax income, and earnings on those contributions grow tax-free.
Dependent Care Flexible Spending Account
If your employer offers a Dependent Care Flexible Spending Account, funds you deposit can be used toward eligible dependent care expenses. Since contributions to a Dependent Care Flexible Spending Account are pre-tax, it can be a great way to save on your overall expenses. Eligible dependent care expenses include afterschool programs, Kindergarten Prep 3 or 4 tuition, and even summer camps for dependent children under the age of 13.
Roth IRA Contributions
Roth IRA contributions (not investment returns) can be distributed at any age without penalty. This can be a great way to fund private school tuition as the investment earnings keep growing after withdrawing the original contributions. You should never compromise your future financial security.
Read also: A Closer Look at Grapevine Faith Christian School
Family Support
Grandparents and other family members may be willing to help support your student with the gift of tuition.
Fees for Non-US Residents
My child is a non-US resident. Non-US residents are required to pay a $3,750 fee per student (new or returning).
Faith Christian Academy & Preschool Overview
Faith Christian Academy & Preschool is a private school located in Orlando, FL. The student population of Faith Christian Academy & Preschool is 593. The school’s student-teacher ratio is 10:1.
Faith Christian Preschool (FCP)
Faith Christian Preschool is an educational ministry of Faith Assembly of God church in Orlando, FL. We are honored to have you consider FCP for your child’s educational needs. We are committed to providing the best care for your child - All of our Kindergarten Prep and VPK teachers are certified with a Child Development Associate (CDA), and have taken state courses to ensure the safety and wellbeing of your littlest learners. When your child graduates from Faith Christian Preschool, we welcome them to attend our wonderful academy, Faith Christian Academy. FCA is an affordable, Kindergarten - 12th grade private school.
Statement of Philosophy
Faith Christian Preschool is…a Christian preschool that believes the divine, inspired Word of God is the source of all truth for life and godliness. The staff at FCP educate students to love God with all their heart, soul, mind, and strength and to love each other as God loves us. We believe that children should be taught to understand, interpret, and analyze all of God’s truth with he mind of Christ, seeing His creation reflect His divinity and supernatural power. God is in all things and holds all things (Colossians 1:17). In Him we live, and under a new name we move, and have our being (Acts 17:28).
Commitment to Non-Discrimination
Faith Christian Academy admits students of any race, color, nationality, and ethnic origin to all the rights, privileges, programs, and activities generally accorded or made available to Faith Christian Academy students. Faith Christian Academy does not discriminate on the basis of sex (as determined at birth and not subject to change), race, color, national or ethnic origin in the administration of our educational policies, admissions procedures, scholarship awards, athletic and other school-administered programs.
Understanding the Monthly Tuition Layout
This holds your student’s spot in their classes, as well as helps to provide curriculum for the teachers. Tuition is the price for the entire school year. The total price for the entire school year will be divided into nine months (September-May) and your payment is due on the 1st of the month beginning in September. The helpfulness of this layout allows the school and you, as a parent, the ability to budget the same exact price every month. The price will not change monthly because you are dividing the total tuition into nine months. So, for months like December and May, where there are not as many classes, you are still paying the same exact price each month.
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