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Tuition Assistance Overview

Tuition Assistance (TA) may be offered to Veritas families who demonstrate financial need.  Any enrolled family can apply for TA by the published deadline (which generally aligns with Course Request submissions). Veritas utilizes FACTS Tuition Management as an unbiased, independent, third-party service to process TA applications; the school does not review individual applications.  FACTS assesses each applicant's financial need and then reports to the Veritas Finance Committee its recommendation of how TA proceeds should be divided among all applicants.  TA funds are limited each year, and awards are made until the funds run out. 


Our Partnership with FACTS

Our tuition assistance program is assisted by FACTS through their online service, Grant & Aid, to process applications.

FACTS does not decide whether financial assistance will be given or how much to give; rather they provide a need-based financial aid analysis service which includes a recommendation of what a family should reasonably contribute toward their annual tuition. All information from FACTS is kept confidential, and as in the past, your personal financial information will not be provided to the school. FACTS recommendations are reviewed by Veritas’s Finance Committee, which will make its recommendations to the School Board based on next year’s budget. Upon approval by the School Board, tuition assistance offers will be sent to families.

The application process includes the following steps:

  1. Families applying for financial aid will need to complete an application online and submit the necessary supporting documentation to FACTS Grant & Aid by the applicable deadline. Applicants can apply online by accessing the application through the same sign-in screen for FACTS tuition payments. You will not need to create a new account if you already have an account in the FACTS Tuition Management System. Simply go to the Veritas home page – Parent Login/Resources: FACTS; once logged in, click on Grant & Aid to begin the online application.

  2. Once an online application has been completed, the following information will need to be uploaded in pdf format to FACTS to complete the application process:
    1. IRS Federal Income Tax Return, including all supporting schedules (the year of the tax return depends on the tax requirements of your school). If applicant and co-applicant file separately, we require both tax returns for the same tax year. (If a 2021 return is not ready by the deadline, a 2020 tax return may be submitted with the TA application. Please submit other 2021 documents such as W-2's and upload the 2021 return when it is ready to support and complete the application.)
    2. Copies of all the current year W-2 Wage and Tax Statements for both the applicant and co-applicant. NOTE: If you are applying before you have received all the current year W-2 Wage and Tax Statements, please submit them as soon as they become available.
    3. Copies of all supporting tax documents if you have business income/loss from any of the following:
  • Business - send Schedule C or C-EZ and Form 4562 Depreciation and Amortization
  • Farm - send Schedule F and Form 4562 Depreciation and Amortization
  • Rental Property - send Schedule E (page 1)
  • S-Corporation - send Schedule E (page 2), Form 1120S (5 pages), Schedule K-1 and Form 8825
  • Partnership - send Schedule E (page 2), Form 1065 (5 pages), Schedule K-1 and Form 8825
  • Estates and Trusts - send Schedule E (page 2), Form 1041 and Schedule K-1.

4. Copies of all supporting documentation for household Non-Taxable Income such as:Social Security Income, Welfare, Child Support, Food Stamps, Workers’ Compensation, and TemporaryAssistance for Needy Families (TANF). If you do not file a tax return, you are required to provide documentation of all income received.

All documentation received is imaged upon receipt and then destroyed.

3. We encourage families applying for TA to submit a letter with their application (and to the school) describing their financial situation, especially if a job loss has recently occurred and grace is needed with the payment of fees that are due with (re-)enrollment.

4. Remember that all applications must be completed on the FACTS Grant & Aid website by the deadline in order to allow processing time. FACTS will send recommendation reports to the school as the applications are processed. Only those families whose FACTS reports are received by Veritas Academy by the deadline will be considered for tuition assistance, unless extenuating, unavoidable circumstances exist. Please communicate these to the Veritas Controller at once.


Frequently Asked Questions

Tuition Assistance (TA) is an integral part of Veritas Academy as we come alongside families financially to help make a Veritas education possible and affordable for those who desire a classical, Christian education within the University-Model® framework. By applying for TA, families are able to (re-)enroll and continue partnering with Veritas as their children progress through each school level.

 

The application fee is $35 fee per family. This fee will be paid directly to FACTS before your application begins.

 

FACTS will send notification and reminders about the status of your application at each stage of the process. Once all documents are received, you will be notified that the application is complete.

 

Families applying for Tuition Assistance will be notified of the awarded amount, if any, within a few weeks of the application deadline so that FACTS tuition payments can be adjusted in time for the first monthly payment of tuition.

Even though there is no guarantee of receiving an award, all families are encouraged to write a letter to the Finance Committee, along with their TA application, detailing how many children are enrolled and any other occupational or financial details that contribute to the family's financial situation that may not be detailed in the actual FACTS application.

 

While every award is customized based on each family’s circumstances, the total number of TA applicants, and the total size of the TA fund in any given year, the chart below outlines previous years’ award amounts by family income:

Even though there is no guarantee of receiving an award, all families are encouraged to write a letter to the Finance Committee, along with their TA application, detailing how many children are enrolled and any other occupational or financial details that contribute to the family's financial situation that may not be detailed in the actual FACTS application.

 

Please notify the Veritas Controller immediately if there have been any changes to your application. A reduction of the total family tuition may result in a reduction of the Tuition Assistance awarded.

 

Veritas Academy benefits from our partnership with FACTS via the efficiency and technology FACTS brings to our school. Should you have any questions regarding this plan, please contact the Veritas Accounting Office at 512-891-1678 or FACTS at 866-441-4637.

 

Tuition Assistance is an important operating expense in Veritas's budget model and is projected to grow by one half to one full percentage point each year. This strategy is the result of our desire to reach 100% of the demonstrated need in our community in order to allow families to continue partnering with Veritas throughout their children's education. 

Additional Tuition Assistance funds are the result of generous donors who share our desire to make it possible for families to remain enrolled at Veritas. 

 

If you are in a position to help your fellow Veritas families, please consider making an ONLINE tax-deductible contribution to this very worthy ministry of the school. For additional details, please contact our Advancement Director Katie Luevano

 

Start Here

FACTS Tuition, Grant & Aid Login

Once logged in, click on Grant & Aid to begin the online application.

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