What forms of financial assistance are available?
The Monarch School offers financial assistance in the form of grants and student loans. The grants are awarded by the school, and the student loans are given by SLM Financial.
Who is eligible for a grant?
Monarch seeks to provide financial assistance to qualified students who would not otherwise be able to afford a Monarch education. The program allows students of various backgrounds to study here, making the school a more diverse and exciting learning environment. We encourage you to apply even if you think you may not qualify.
How do I qualify for a grant?
All applications will receive equal consideration. Grants are awarded on a three-tier system:
- Current Monarch families already receiving assistance are given first consideration
- Current families requesting assistance the first time are next in line
- New families are then considered
Monarch uses the analysis system of Independent School Management (ISM) FAST financial assistance software in determining a family’s need for assistance. This national service provides schools with information and guidelines for granting financial assistance awards fairly and equitably on the basis of need.
Based on your family’s financial information, the service computes the amount the family can be expected to contribute for education. In computing this amount, FAST takes into account the family’s income, assets, liabilities, unusual expenses, family size, retirement needs and the number of children attending tuition-based institutions.
Using your federal tax return, the information from FAST, your personal letter to the school, and taking into account the total Monarch financial assistance budget, the Financial Assistance Committee decides the amount of each family’s grant. All applicants for assistance are notified in writing of the award decision. All information concerning financial assistance applications and awards is held in strictest confidence by Monarch.
How long is financial assistance available?
Awards are made for one year only. A family may re-apply for assistance in subsequent years.
How do I start the process?
Application for financial assistance must be made on an annual basis.
Applicants for new admission to Monarch may apply for financial assistance at the same time as applying for admission to the school. Please adhere to deadlines, as funds are limited. Monarch accepts students for admission without regard of financial status; decision concerning admission and financial assistance are made separately.
All families, returning or new, who wish to apply for financial assistance at Monarch, must follow these procedures:
- Complete the financial assistance application through the FAST website
- Mail the previous year’s federal tax return along with appropriate schedules and W-2 forms to ISM Fast in the envelope provided by the Admissions Office
4/15—Families returning for the upcoming academic year and new and returning families applying only for the current Summer Program
6/1—New families applying for the upcoming academic year
Monarch’s Financial Assistance Committee makes awards at the end of June, and parents are notified of the Committee’s decision in early July.
For specific information regarding applications for student loans through SLM Financial, please contact the Admissions Office at (713) 479-0800.
Certain costs of education for a child with neurological differences may qualify as deductible medical expenses under Section 213 of the Internal Revenue Code and related regulations, depending upon individual facts and circumstances. It is recommended that parents confer with their attorney or tax consultant to determine whether tuition and transportation costs for Monarch will qualify as deductible expenses in their particular case.
Medical Insurance Reimbursement:
Some psychological support services provided at Monarch may be covered under medical insurance. Upon request, the school can provide a statement of insurance billable psychological services to the family. Many families report that portions of these fees are reimbursed under their medical insurance. It is important to note that many psychological services your child receives at school are not billable services. Please, check with your insurance provider for details regarding what is and is not a billable service.
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