LOAN OPTIONS
Investing in your child’s education at Aspen Academy is an investment in his/her future. In an effort to make this excellent education affordable regardless of family financial circumstances, we offer information regarding Key Education Resources.

Aspen Academy and Key Bank realize that paying for education is a significant financial commitment. We realize that families can experience short and long-term financial obstacles. The AchieverLoan is designed to help families successfully manage education costs with flexible payment schedules, low interest rates, and extended term limits.

Key also provides free, helpful online tools and calculators to assist your family in meeting K-12 private school expenses. For more information and applications, please visit http://www.key.com/AchieverLoan, or call Key at 1-800-KEY-LEND.

Financial Aid

Financial aid at Aspen Academy is awarded on the basis of demonstrated need, as determined by factors such as income, number of children, age of parents, other tuitions, unusual medical expenses, taxes, assets, and liabilities. Because financial aid is treated as a gift from the school to the receiving family, there are no repayment requirements. Applying for financial aid does not affect one’s chances for admission.

Aspen Academy’s Financial Aid Committee determines a family’s need based on two factors:

1) Recommendations from School and Student Service for Financial Aid (SSS)—a third-party entity that takes into consideration several financial factors including income, debt, assets, the number of family members who attend a tuition-based school, etc.

2) Information provided by the applicant directly to the school.  All financial aid information is strictly confidential. Keep in mind that the recommendations from SSS serve as a guideline for financial aid decisions. Because many families of new and returning students qualify for financial aid, Aspen Academy may not be able to offer aid to all families, nor can it offer full demonstrated need in all cases.

 How to Apply for Financial Aid:

• Go to http://sss.ets.org.
• Complete the Parents’ Financial Statement online through SSS (School and Student Service for Financial Aid). PFS Online is available starting at the beginning of December.
• Please be sure to have the SSS report sent to Aspen Academy (code 4727). Allow three weeks for processing.
• Submit the following to Aspen Academy by FEBRUARY 15, 2007:
  • A copy of the Parents’ Financial Statement
  • A signed copy of your current year and previous year’s Internal Revenue Forms 1040 and all schedules
  • A copy of the last 2 pay stubs for each wage earner
  • A signed copy of IRS Form 4506, Request for Copy of Tax Return
  • A completed business/farm statement if you are self-employed

After all information has been received, Aspen Academy’s Financial Aid Committee will review the data and make a determination of award. Notification about financial aid awards will be mailed no later than the end of March.

Financial aid awards vary in amount, and each family is expected to contribute an amount toward the cost of an Aspen Academy education. Financial aid awards are not guaranteed to stay the same year to year; in fact, they will change as families’ financial circumstances change. Families are required to submit a new financial aid application every year. Students must remain in good academic and disciplinary standing in order to qualify for financial aid.

For divorced parents:
Both parents, whether divorced, separated, or a non-traditional family, are required to complete a Parents’ Financial Statement. If your ex-spouse does not fill out the forms, your chances of receiving financial aid may be jeopardized. In certain circumstances, Aspen Academy’s Financial Aid Committee may accept confirmation from a third party that can bear witness to the family’s situation.