Applying for Tuition Assistance

Tuition Assistance: Mission and Philosophy

The mission of the financial aid program is to provide tuition assistance to families whose children otherwise would be unable to attend the school. Our goal is to fully fund the demonstrated financial need of our admitted students so they can participate fully in all programs and activities offered by the school and further the RA mission statement. RA believes that parents have the primary responsibility for funding their children's education; only after available parental resources have been examined will the school offer financial support within the confines of its limited available resources. The goal of the aid applications process is to obtain the fullest understanding of the financial resources that might be available to a given applicant, and partner with each family to bridge the difference between demonstrated need and cost of attendance.

The financial aid program is vital to fulfilling the RA missions statement and providing a diverse socio-economic population at the school.

Tuition Assistance Timeline

By January 1, 2025, please submit through Clarity:

A complete Parents' Financial Statement (PFS)
A complete copy of your 2022 tax returns (Form 1040, including all forms and schedules
W-2 forms, where applicable)

By April 15, 2025, please submit through Clarity:

A complete copy of your 2023 tax return (Form 1040, including all forms and schedules) OR a copy of your tax extension
W-2 forms, where applicable

Resources For Families

Clarity Quick Reference Guide

Clarity Family Application Guide

Applying for Tuition Assistance

To begin your financial aid application, please visit Clarity and create an account, using the code 8251 for RA/LP.

The application process typically takes less than 30 minutes to complete. Additionally, it is mobile-friendly, so you can start the application from anywhere and have the option to save your progress if you need to return to it later. Please note, a submission fee of $60 is required.

The deadline for submitting the financial aid application for both returning and new families is January 1, 2025. Applications received after this date will only be considered based on the availability of remaining funds.

Should you have any questions, please do not hesitate to contact support at support@claritytuition.com.

FREQUENTLY ASKED QUESTIONS

ELIGIBILITY

Who is eligible?

What is "demonstrated need"?

Am I required to demonstrate eligibility each year?

Who determines eligibility? Who sets the school financial aid budget?

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TYPES OF AID

What types of aid are available?

Are there other payment options?

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FACTORS

Are allowances made for siblings attending independent or religious schools?

Does RA consider the resources of the extended family, as well as the immediate family?

How are students' assets and trust funds used in calculating awards?

Does any group of students have priority when the school is determining financial aid awards?

Which year's income will be used as the basis for a financial aid decision?

Are allowances made for a parent who has just started a new business or has returned to college or graduate school?

How are non-working parents factored into the financial aid calculation?

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THE AWARD

I have not yet received my financial aid package, but I know that I cannot come close to affording the EFC. What should I do?

The EFC is an estimate calculated by Clarity, and this estimate is designed to be adjusted by individual schools. As a result, some families new to the financial aid process feel overwhelmed and worried when receiving their EFCs, which do not reflect any adjustments by Ridgefield Academy. For example, RA adds a Cost of Living Adjustment, which decreases the EFC. RA may also make other similar adjustments to the EFC, which is why the school asks for supporting documentation beyond the application for aid. The additional information provides a fuller picture of a family’s financial situation. However, in certain situations, this fuller picture of a family’s ability to contribute may result in an increase in the EFC.

My child is admitted, but the FA award is not enough to make enrolling an option. Is there an appeals process?

Families may appeal the financial aid decision by requesting an appeal in writing by mail, email, or fax. The writing should be directed to the Director of Financial Aid and should include additional information about cash flow and expenses that may not have been evident in the aid application. Upon receipt, the Financial Aid Committee will reexamine your request for aid.

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MISC RESOURCES

Glossary Of Key Terms

PFS, EFC, COLA:

Whether it starts with calling it Financial Aid, Tuition Assistance, Variable Tuition, Flex Tuition, or something different, families should know that schools might term related concepts differently. Most independent schools offer some type of discounted tuition program, based on both a family’s needs and the school’s financial operations, understanding that a diverse socio-economic school community benefits mission fulfillment. Spending time learning about Clarity, their family application and Estimated Family Contribution (EFC), a Cost of Living Adjustment (COLA), etc. helps understanding of these concepts.

Assets:

If a family has major assets, savings, or investments, the formula computes an income supplement that is added to the gross income. This income supplement varies, but usually net assets of $50,000 or less will have little impact on the computation. Home equity is based not on market value but on the price paid for the home and the years it has been owned. Generally, this will undervalue the equity. The income assumed to be generated by assets also takes into account parent age, leaving retirement savings intact. For most, but not all applicants, the additional income imputed from assets is a small factor. However, if the student has assets (savings, trust accounts, etc.), the formula includes them in calculating the amount the parents can pay.

Family Size:

Living allowance estimates are based on the number of people in a student’s household(s). Income is adjusted by expenditures for housing, food, or medical needs to obtain the available discretionary income.

Number of Tuitions (Preschool through Postsecondary) Currently Being Supported:

A student's financial aid grant is also divided by the number of family members (including adults) attending any tuition-charging elementary school, high school, or postsecondary institution.

Divorced, Separated, or Never Married Parents:

Financial Aid is based on the family's ability to pay as demonstrated by the information submitted in the application for financial aid. Both custodial and non-custodial parents (regardless of legal settlements) who are divorced, separated, or never married are required to submit the application. In exceptional cases where one parent cannot comply, the custodial parent should submit a written explanation. Lack of information from either parent may significantly compromise the school’s ability to make a determination.

Financial Aid FAQ's

An Introduction To FA For Independent Schools

Ridgefield Academy safeguards the confidentiality of all financial information supplied by applicants and does not publicly identify recipients of financial aid, except with parental permission. Only those persons directly involved in the financial aid process or in its administration will review this information.

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