Mounds Park Academy offers financial aid to qualified applicants to enable students of diverse economic backgrounds to attend MPA. Aid awards are based on a family’s assessed financial “need”, the amount of aid available, and the number of applicants. This aid is available, on a limited basis, to students entering kindergarten through grade 12 and does not need to be repaid. Qualifying families may receive tuition assistance in the form of financial aid in amounts up to 50% of tuition in Lower and Middle School and up to 75% of tuition in Upper School. MPA believes that the family should be the first resource for funding an independent education. It is our goal to allocate MPA financial aid resources to a diverse community to make an MPA education a reality.
MPA assesses a family’s financial need with the help of an outside agency (TADS). Each family applying for aid completes an online application. In cases of divorce, both custodial and non-custodial parents must complete the form. TADS processes the application and sends MPA a calculation with an estimate of a family’s financial need. MPA’s financial aid committee uses this and other information to determine a family’s financial aid award amount. Families need to re-apply for financial aid every school year.
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 aid without going through the financial aid application process. Income, assets, taxes, family size, and number of family members at tuition-based schools are all figured into the financial aid equation to determine need.
The amount of aid available to a student is based on two major factors: 1) The amount of money the school is able to reserve for financial aid; and 2) The number of families applying for aid.
Approximately 30 percent of MPA students received aid awards. Financial aid is for tuition only. Additional fees such as books, hot lunch, transportation, or classroom supplies are excluded.