Financial Assistance FAQs
Q: How is financial need determined at MPA?
A: MPA assesses a family's financial need with the help of TADS. TADS is an outside agency that specializes in uniform calculation of a family's ability to cover educational expenses. Each family applying for assistance completes an online application. (In cases of divorce, both custodial and non-custodial parents must complete the form.) TADS processes this application and sends MPA a calculation with an estimate of the amount the family should be able to contribute toward tuition. MPA's financial assistance committee uses this and other information to determine a family's award amount.
The amount of assistance offered to qualified families is based on the following:
- MPA's financial assistance budget.
- Financial need of candidates, as assessed by TADS.
- Number of candidates who apply and qualify for financial assistance.
- The number of financial assistance recipients and level of assistance provided per grade.
New students entering either Lower or Middle School may receive financial assistance up to a maximum of 50 percent of tuition; new students entering Upper School may receive financial assistance up to a maximum of 75 percent of tuition.
Q: Will my family be eligible for financial assistance?
A: Awards are based on a family's assessed financial need, the amount of assistance available, and the number of applicants. Because several factors contribute to determining financial need, it is impossible to specify if a family at a certain income level would be eligible to receive assistance without going through the financial assistance application process. Income, assets, taxes, family size, unusual expenses or debts, and number of family members at tuition-based schools are all figured into the financial assistance equation to determine need.
Q: How many families receive financial assistance at MPA?
A: Approximately 30% of MPA students receive assistance awards in a given year. Financial assistance comes in the form of a grant (not a loan), and is for tuition only. Fees such as books and other incidental expenses, such as transportation, are excluded from financial assistance.
Q: Do I need to apply for financial assistance every year?
A: Yes, because family circumstances can change, families re-apply for financial assistance every year. Awards can also be influenced by the total amount of assistance available and the number of candidates who apply each year.Q: How do I apply for financial assistance?
A: To apply, please follow the detailed Financial Assistance Instructions.Q: What is the difference between my Ravenna application and my TADS application?
A: Families use Ravenna to complete the application for admission, including the submission of transcripts, teacher recommendations and standardized test results. Families use TADS to complete the application for financial assistance and/or complete the enrollment process and submit the deposit to confirm enrollment.
Q: When do I apply for financial assistance?
A: For the 2020-21 school year, the Financial Assistance Process Begins: Friday, December 6, 2019
Financial Assistance Application Deadline for Current Families: Friday, January 3, 2020
Financial Assistance Application Deadline for New Families: Saturday, February 15, 2020
Q: Who should complete this assistance application?
A: Whomever the child resides with should complete this application whether it is a parent, grandparent, aunt/uncle, or legal guardian. There is a section within the application where you can enter contributions from non-custodial parents and relatives.
Q: Why do I need to input my spouse's information if I am remarried and they are not legally responsible for my children?
A: TAD's calculation works off of the total household income, therefore including all income, whether the party is legally responsible for your children or not. The system however, does take into effect your spouse's expenses as well as their income. It is important to list all expenses that are asked of within the application.
Q: What if I want to edit my application?
A: Once an application has been submitted and paid for it can no longer be edited by a parent. However, if changes are necessary a written statement with the change (including the application ID), should be sent to Gina Wallraff, Chief Financial Officer, at email@example.com.
If you have additional questions about Financial Assistance at MPA, please contact:
Director of Admission