Financial Aid Policy
Waldron Mercy Academy (“WMA”) has a need-based financial aid program which makes our school accessible to those who cannot afford the full cost of tuition. Our commitment to diversity includes socioeconomic diversity, and we strongly believe that our school community is enhanced by enrolling students from varied socioeconomic backgrounds.
WMA’s financial aid policy follows the Principles of Good Practice for Financial Aid Administration established by the National Association of Independent Schools (NAIS). These principles affirm the belief that the purpose of a financial aid program is to provide monetary assistance to those students who cannot afford the cost of attending an independent school. In addition, these principles reflect standards of equity and fairness, and an ongoing commitment to access and diversity.
WMA operates within the context of both short- and long-range financial aid budget and policy goals. An amount for financial aid is approved each year by our Board of Trustees as part of the annual operating budget for WMA. The amount of financial aid takes into consideration the existing level of aid awarded as well as projected tuition increases. Sources of funding include donations through Pennsylvania’s Educational Improvement Tax Credit (“EITC”) and Opportunity Scholarship Tax Credit (“OSTC”) programs, other restricted donations, income from endowed funds, fundraising activities, and operating revenues.
WMA provides outreach, education and guidance to families on all aspects of its financial aid process through its website, published materials, and personal contact.
WMA determines eligibility for admission without regard to a student’s application for financial aid. All financial aid decisions are based on financial need without regard to a student’s race, color, religion, ethnicity, or national origin.
WMA commits to providing financial aid dollars to applicants who demonstrate that their family resources are insufficient to meet the total educational costs. Financial assistance is considered on an annual basis and must be reapplied for each year. Current families have priority over new families that apply for financial aid, provided that application deadlines are met. Unless there has been a significant change in the family’s financial circumstances, WMA commits to support a student through graduation at the same percentage of financial aid.
WMA maintains the same standards of behavior and academic performance for recipients of financial aid as it does for non-recipients.
WMA follows procedures that ensure a fair, consistent and equitable assessment of each family’s ability to contribute toward educational expenses.
WMA strives to make and to communicate its financial aid decisions in a manner that allows families to make timely, careful and fully-informed enrollment decisions.
WMA safeguards the confidentiality of financial aid applications, records and decisions.