|The Finance Committee of the Board of Directors determines the amount to be allocated to financial aid from the total operating budget. In making this determination, the Finance Committee considers past levels of need, current funding availability, anticipated fundraising efforts, future tuition increases, and the requirements of the overall operating budget. The Board of Directors reviews and approves the Finance Committee's allocations. Only the Board of Directors may authorize the allocation of funds for financial aid.
The role of the Financial Aid Committee is to collect applications, determine applicant qualifications and authorize awards.
Applicants are required to complete and submit, in a timely manner, the NAIS Parent Financial Statement (PFS) form. Applicants will also be required to submit a copy of their Federal tax return with all supporting schedules, and all W-2's and 1099's. The Committee reserves the right to request additional information it deems necessary on a case-by-case basis.
The Committee will keep all aspects of financial aid confidential and will never publish or disseminate applicant names or personal information beyond the Committee.
Due to changing financial circumstances from year to year, families must apply annually for financial aid. An award received in a prior year does not guarantee additional awards in current or future years. However, as long as the family demonstrates financial need, the school will continue to attempt to meet that need.
Each year the committee gives first priority to the consideration of applicants for renewal of financial aid to current aid recipients. The committee subsequently considers the applicants of those applying for aid the first time.
The School does not make grants requiring repayment.
In determining demonstrated need, the Committee will consider all forms of income, both taxable and non-taxable.
The committee will consider all assets of the family, including trusts and other resources, regardless of the terms of the documents controlling such entities.
It is the policy of GHA that both parents, regardless of material status, be financially committed to the cost of their child's attendance at GHA. In the case of parents who are divorced or who never married, the committee will assume that each parent will contribute as necessary to the payment of tuition regardless of custody arrangements or court orders.
In applying for financial aid, each parent, regardless of marital status must apply and demonstrate a need. If information from both parents is not available by the application deadline, the Committee may make an independent assessment regarding financial need, which may result in a lesser award or no award at all.
If either of a child's natural parents remarries, or resides with a significant other, the financial information submitted to both SSS and the School must include all household income.
There is a reduced enrollment deposit for families applying for financial aid.
The monthly carrying charge will be waived for families granted financial aid.
Families receiving financial aid are expected to be responsible in their financial obligations to the School. The School will withhold re-enrollment contracts and/or aid from financially delinquent families, or from any family that misleads the school as to its need.
Gig Harbor Academy does not discriminate on the basis of sex, race, color, religion, national origin or any other protected category in the creation or implementation of its admissions policies, educational policies, financial aid policies or any other school-administered program, service or privilege.