Financial Aid Q & A

Financial aid awarded to the student’s family is applied directly to the cost of tuition. The aid amount is individualized for families based on their financial need to help cover the cost of a private school education. Financial aid is not a loan and does not need to be repaid.

It is recommended that applications be submitted by December 20 along with the complete set of tax documents most recently filed. W2 statements for the current year must also be submitted as soon as they are available. Current year tax returns should be uploaded when available, even if it is after an award has been determined. 

See below for sample timelines: Academic Year 2022/2023

• Submit financial aid application for 2022/2023 by December 20, 2021
• Submit 2020 full (complete set) Tax Return, including 2020 W2, by December 20, 2021 (must accompany application)
• Submit 2021 W2 statements as soon as they are available
• Submit 2021 full Tax Return as soon as available or by April 15, 2022 at the latest.

The Independence School uses FACTS Management to process financial aid applications and to collect and verify the required financial statements (tax returns, W2, etc.). FACTS Management will provide a recommended financial aid amount after reviewing a family’s assets, income and liabilities, and supporting tax documents. FACTS will differentiate between (reasonable) fixed expenses and (reasonable) discretionary expenses given the income used for some expense choices could be used to offset the cost of private school education. It is expected that families contribute as much as possible towards tuition. The Independence School Financial Aid Committee will review each application and the supporting documents independently to determine an award.

Completed applications with required tax documents will be considered in the order in which they are received. Any tax documents not submitted in entirety with the application will delay the process.

Decisions will begin in January and be communicated over the course of the month. Late applications may be impacted by the availability of remaining funds.

In recognition of our community’s first responders, Independence does offer a specific discount to children of full-time first responders. We also offer a discount to children of Independence alumni, and we have partnerships with certain other area educational institutions to provide reduced tuition to children of their employees. The Admission Office staff can provide details on these special tuition programs. 

In 2021/2022, 44% of our students are receiving financial assistance with an average award of almost $8,000.  

Unfortunately, without doing a full financial review, it is not possible to determine an estimate. The circumstances for each family are unique. All factors are taken into consideration when applications and documents are reviewed.  Without completing a full analysis, it is not possible to determine if a family would qualify, or for what amount.

Yes. Each year, the Board sets the budget for the school, including tuition levels and the allocation for financial aid. The Financial Aid Committee works to balance the needs of families applying for aid while working within the new budget set each year. Additionally, family circumstances can change (increase or decrease in income) which could change the amount of aid requested and/or awarded.

Yes. Only the members of the Financial Aid Committee have access to the information in order to determine financial aid awards. All information related to financial aid is held in the strictest confidence. 

In order to be considered for aid, Independence requires that both natural parents (including non-custodial parents, adoptive parents or guardians) submit an application for financial aid for each parent household. Each application must include the appropriate income and tax documents.

We will consider aid with an application and documentation from one parent household only if it can be demonstrated that the other parent is not actively involved in the child’s life or their whereabouts are unknown. A letter of verification from a disinterested third party (lawyer, judge, social worker or clergy) is required. Please note that failure to provide all parental income information may restrict the Committee’s ability to grant aid.