Financial Aid

Need-based scholarships are available. TMA uses an outside company, Tuition Aid Data Services (TADS), to determine a family's level of financial need. Financial Aid Application Forms can be obtained in the Front Office or completed online at www.tuitionaid.com. An application-processing fee of $29 is required for each application submitted. To be considered for the following school year, an application and application processing fee must be received by TADS by the date designated on the application. Checks should be made payable to Tuition Aid Data Services (TADS). A confidential report is provided to you and the school. The Financial Assistance Committee utilizes financial need data contained in the TADS report to appropriate available funds per Scholarship Policy guidelines.

The FAC meets once a year, prior to May 10^th, to award scholarships for the next school year. Past Financial Aid Committees have chosen to try to help as many families as possible with available funds. As a result, the average scholarship award has been around $1,000. Each Financial Aid Committee has responsibility for determining how the available funds will be allocated for the next school year and is not bound by previous years’ precedent.

Scholarship Policy

Families of all students seeking admission to or re-enrollment in the Toddler, Preschool Bridge, Preschool, Preschool Extension, or Elementary programs are eligible to apply for financial aid (Scholarship). No financial aid is available for childcare expenses.

Scholarships and financial aid will be made available without regard to race, color, national or ethnic origin of the student or student’s family.

Financial aid awards are made by a Financial Aid Committee (FAC), appointed by the TMA Board President, which consists of the Head of School, the school accountant, a lead teacher, and two members of the school community.

The FAC will make awards based on the following considerations:

• Scholarship Fund constraints.
• Demonstrated financial need of the applicant family. The FAC will be guided in its assessment of need by the parent’s financial statement, the family’s IRS Form 1040 (with all associated Schedules) for the TWO calendar years preceding the year in which the award would be made.
• A current teacher assessment of the student’s ability.
• Preference will be given first to re-enrolling students who have received financial aid in the past, and then to re-enrolling students who demonstrate financial need.
• Funds may be reserved at the discretion of the TMA Board of Directors to assist TMA families who may encounter financial emergencies during the course of the year. A line item in the school’s financial statement allows this reserve to be carried from one academic year to the next when necessary. If emergency financial aid is needed, a written request must be made by the family to the Head of School for referral to the Financial Aid Committee. This request should include details of the difficulty and the length of time the family anticipates aid will be needed. Emergency financial aid will be considered for all children enrolled at TMA, including toddlers. Emergency financial aid will be given at the discretion of the FAC based upon the circumstances, available funds, and length of time aid will be needed. Emergency aid will not carry over to the next school year. If a family situation has not resolved itself by the beginning of the next school year, it will be necessary for them to apply for scholarship.
• Awards will NOT be made in excess of 80% of the student’s tuition and are typically in the 10% to 25% range, although the FAC is not constrained to the typical award for financial assistance. Tuition is defined as the net amount after applicable discounts are taken.
• The FAC will strive to provide effective assistance to as many families in need as possible.

Applications will NOT be considered unless ALL required information is submitted in accordance with the schedule prepared each year by the FAC. Awards are also contingent upon timely submission of application or re-enrollment forms and timely payment of tuition and any other monies due to TMA.

Funds will be dispersed from the scholarship fund, on a monthly basis, directly to the school.

The school accountant is to prepare a spreadsheet matrix of all applicants from which the FAC can make its considerations. This matrix, as well as any letters or attachments are “sanitized” or “cleansed” to be void of any names of the applicants thus assuring as impartial an evaluation as possible.

The role of the Head of School on the FAC is to be “advisory” and to be a “resource provider” regarding any clarification that might be needed by the remainder of the FAC, thereby eliminating any expectation by the applicant(s) for Head of School advocacy of their submission.