What is the Tuition Refund Plan?

The tuition refund plan protects both you and the school. You are contracting with TMA for educational programs and services for the entire academic year and therefore, you are responsible for the payment of the contract in full. However, you may find that you are relocated on short notice, your financial status has changed, or there are other circumstances that result in your child(ren) being withdrawn from the school. The Tuition Refund Plan pays 60-100% of the balance left on your enrollment contract; the percentage is dependent on the reason for withdrawal. You pay a premium equal to 2.8% of the annual tuition amount of your contract and then, if you have to leave during the school year, the Tuition Refund Plan pays at least 60% of your remaining financial obligation to the school. The premium is an annual fee paid in August, not a monthly fee. See Fee Schedule for exact premium amounts.

Who has to participate in the Tuition Refund Plan?

All parents who choose the ten month payment option must participate in the plan and pay the premium (2.8% of the annual tuition). In the past, we allowed parents to pay monthly without a finance charge; the annual tuition amount was simply divided by ten. Other private schools who allow parents to pay monthly, charge a finance charge, some as high as 9.9%. The 2.8% Tuition Refund Plan premium can be thought of as a finance charge for monthly payers; 2.8% beats most MasterCard and other revolving account rates. It also will provide peace of mind as most of the circumstances which result in a student’s withdrawal, such as relocation or financial hardships, aren’t planned in advance.

What if I pay the full annual tuition in May?

If you pay the full annual tuition in May, the Tuition Refund Plan is optional; you do not have to pay the premium. However, should you have to withdraw your child, for any reason, TMA will not reimburse you. If you choose to pay the premium and participate in the Tuition Refund Plan, you will be reimbursed a portion of your prepaid tuition; the amount dependent upon the reason for withdrawal. Contact the school office for details.

What do I have to do?

There is not additional paperwork. By signing and returning the Enrollment Contract and paying the premium in full by August 1, you are enrolled in the plan. Each student contract requires a separate premium to insure it.

What if I have questions?

If you still have questions, please contact the front office via e-mail or by phone at (817) 274-1548. We will be glad to answer your questions.