There are many myths about the financial aid process. We want to help you understand the truth.
Mythbuster 1 – Middle-class families do not qualify for financial aid.
Many middle-class families do qualify for financial aid. We consider a variety of factors when determining a financial aid award.
Mythbuster 2 – When a family reapplies for assistance after the first year at school, the award will decrease significantly.
If a family’s situation remains constant, the award will also remain constant. As tuition increases, families typically see an increase in the award.
Mythbuster 3 – A family is penalized because there are funds saved for college and retirement.
Savings is one of the assets reviewed, but its impact on the family contribution calculation is quite small.
The cases are based on typical AOA families with diverse financial situations. Many variables are included in the Parents’ Financial Statement and no two financial assistance applications are ever identical. We hope these examples help you imagine how an Andrews Osborne Academy education may be possible for your family.
Case Study #1
A student lives with both parents and has one sibling who is not enrolled at a tuition-charging institution. The combined family income is $120,000. The family owns their home and has $12,000 in assets (includes savings, home equity, savings, and investments).
$26,525 Tuition Grade 9
$14,285 - Total Assistance Offered
$1,000 - Jerome T. Osborne, Sr. Merit Scholarship
$11,240 = Total Tuition Paid
Case Study #2
A student lives with both parents and does not have any siblings. Both parents are employed outside of the home with a combined income of $86,000. The family owns their home with a market value of $150,000. Their total assets are $110,000 (includes savings, home equity, savings, and investments).
$17,518 Tuition Grade 3
$5,818 - Total Assistance Offered
$11,700 = Total Tuition Paid
Case Study #3
A family with 3 children who all attend tuition-charging institutions (2 children are enrolled at AOA and 1 child attends college). Both parents work outside the home. The combined household income is $225,000. The family owns their home with a market value of $400,000. Assets are $80,000 (includes savings, home equity, savings, and investments).
$26,525 Tuition for 1st student in Grade 9
$26,525 Tuition for 2nd student in Grade 11
$27,618 - Total Assistance Offered
$25,432 = Total Tuition Paid
Andrews Osborne Academy, through the generosity of several constituents and annual giving, is able to offer scholarship opportunities to both new and returning students. New students applying for scholarships and financial aid must first complete all admission requirements and receive notice of admission from AOA before an award will be given with the exception of the Jerome T. Osborne Sr. Merit Scholarship. Scholarship application requirements can be viewed by selecting the scholarship name.
Please contact the Office of Admission by email at email@example.com or call 440-942-3600 ext. 114 with any questions.