Financial Assistance FAQ

Q - Is financial assistance available at Harding Academy?

Yes. Designated funds are available each year to provide tuition assistance to families that have demonstrated a financial need. These funds are available because of the generosity of friends of Harding Academy who support Christian education. Financial assistance awards cover a portion of the student's tuition expenses, and the family is responsible for the balance. To apply and be considered for financial assistance a student must be enrolled or have been approved for admission into grades SK–12. Harding Academy uses FACTS Grant and Aid Assessment, an independent third party, to assist in determining the demonstrated financial need of applicants. Completed applications from current students that are re-enrolled, followed by completed applications from new students that have been accepted for admission, received on or before March 1, 2017, will be given priority consideration. Completed applications received after March 1, 2017, will be considered on a first-come, first-served basis.

Harding Academy admits students of any race, color, and national or ethnic origin. Admitted students have access to all the rights, privileges, programs, and activities generally accorded or made available to students at Harding Academy. Harding Academy does not discriminate on the basis of race, color, and national or ethnic origin in the administration of its educational policies, admissions policies, financial assistance programs, or athletic and other school administered programs.

Q - Who may apply for financial assistance?

Returning Harding Academy students and new students accepted for enrollment at Harding Academy who will be in grades SK–12 may apply for financial assistance. Preferences in granting awards to qualified families are given to returning Harding students and new students with a sibling currently attending Harding whose completed applications are submitted by March 1, 2017. While all current students who intend to apply for financial assistance should complete their applications by March 1, 2017, they must be re-enrolled before the Financial Assistance Committee will consider their application for financial assistance.

Q - Does applying for financial assistance influence the admission decision?

No. Only completed applications from current students who have re-enrolled and new students who have been accepted for admission will be reviewed by the Financial Assistance Committee.

Q - How do I apply for financial assistance?

Follow the instructions available here. Starting in 2015, Harding Academy requires that all financial applications be completed online through FACTS. All required documents must be uploaded to FACTS as detailed on their site. FACTS provides customer support via phone, e-mail, and online support.

All information pertaining to a family’s financial circumstances will be treated in a confidential manner.

Q - Is it possible to apply for financial assistance before my child goes through the admissions process?

No. Only completed applications from current students who have re-enrolled and new students who have been accepted for admission will be reviewed by the Financial Assistance Committee.

Q - How is financial need determined?

Financial need is defined as the difference between the tuition cost and the amount the family is able to pay. Factors used to determine financial need include, but are not necessarily limited to, family income, assets (including home equity, college funds, investments), family size, the number of children attending tuition-charging institutions (excluding daycare, preschool, and graduate school), medical expenses, school loans, and other debts. Harding Academy uses the services of FACTS to assist in the determination of financial need.

Q - Is financial assistance automatically renewed each year?

No. Harding Academy requires families receiving financial assistance to reapply each year. Changes in income, family status, and the number of children attending tuition-charging institutions may cause an increase or decrease to an award. In addition, the student's academic performance and personal conduct may be considered in increasing or decreasing an award.

Q - What if families apply for financial assistance for more than one student to attend Harding Academy?

Parents need to identify each child for whom they are applying for assistance on the FACTS online application; however parents are required to fill out only one application per household.

Q - What if the parents are divorced, separated, or never married?

Harding Academy recognizes that parents have the obligation to pay for the educational expenses of their children to the extent they are able to pay. Therefore the Financial Assistance Committee will consider the income and assets of both natural parents, if living, before making an award.

If either parent remarries, the committee will also consider the income and assets of the step-parent, keeping in mind the obligation of that step-parent to his or her own natural children. If either parent lives in a household with another adult, Harding Academy may consider the income and assets of that individual depending on the circumstances.

In view of this policy, it is necessary for both natural parents and their current spouses, if applicable, to complete FACTS application(s) as instructed online. If all required applications and forms are not received, the Financial Assistance Committee will not review the application.

Q - What is the deadline for filing an application for financial assistance?

Beginning in March, the Financial Assistance Committee will begin reviewing all completed applications for re-enrolled current students and new student accepted for admission. Completed applications filed with FACTS on or before March 1, 2017, will be reviewed first, with awards being made first to current families and then to new families. All completed applications filed after March 1, 2017, will be processed and considered on a first-come, first-served basis until the funds designated for financial assistance have been awarded. Please submit your completed application as soon as possible after January 16, 2017, to facilitate this process.

Q - Does the fact that one parent does not work have an effect on a financial assistance award?

Yes. If one parent does not work, annual compensation based upon a 40-hour workweek earning minimum wage will be imputed when determining eligibility. This imputation of income will not take place when the non-working parent is caring for a pre-school or disabled child or a disabled or elderly parent. Please address this factor in the remarks section of the online application.

Q - I never file my tax return until after March 1. Will this have an effect on a financial assistance award?

Yes. An application for financial assistance will not be processed until all required information is provided to FACTS, including your 2014 W-2s and tax return. Please e-mail FinancialAssistance@hardingacademymemphis.org with questions regarding prior year’s tax returns.

Q - When and how will I receive notification on the status of my application for financial assistance?

Processing of fully completed applications will start in March 2017. Once a decision is made, families will receive notification by email either the amount of assistance awarded or a declination of their application for assistance. This communication will come in April 2017.

Q - Will my tuition deposit be refunded if I withdraw my student after an application for financial assistance is denied, or if I choose not to accept the financial assistance award?

No. The tuition deposit is required to reserve your student’s position for the next school year. It is non-refundable.

Q - Can I be informed of the amount my award would have been if my student had been admitted to Harding Academy?

No. The Financial Assistance Committee only reviews the completed applications of re-enrolled students and new students that have been accepted for admission at Harding Academy.

Q - What should I do if I have additional questions about financial assistance at Harding Academy?

You should contact customer support at FACTS with any questions regarding the online application process, including questions regarding tax information and other supporting documents. If you have a question they are unable to answer, please email the financial assistance office.