Scholarships and Financial Assistance
Click here to access our Financial Aid Brochure.
1. Scholarships: Ignatian Scholarships; Endowed Scholarships and Greater Glory Awards
Four-year Ignatian Scholarships are awarded to students entering ninth grade who manifest outstanding academic achievement. Leadership ability and involvement in extra curricular activities are also factors taken into account. Loyola Blakefield also maintains a number of Endowed Scholarships and Greater Glory Awards. These four-year and annual awards are given principally to students entering ninth grade who demonstrate good character, academic talent, and financial need.
2. Financial Assistance
Students who have been granted admission to Loyola Blakefield are eligible to apply for direct financial assistance. Such assistance – from direct grants, Endowed Scholarships or Greater Glory Awards - is available for students and families demonstrating documented financial need. Decisions on financial aid are made by the Financial Aid Committee, subject to the review of the President.
Process for applying for aid for the 2013-2014 School Year
1. Prospective Students or Current Students applying for Aid for the first time
To begin the process, a Parent Financial Statement (PFS) developed by the School and Student Service (SSS) of the National Association of Independent Schools (NAIS) must be completed and forwarded to SSS between November 1 and December 15, 2012. The December 15 due date is necessary to allow sufficient time for SSS and Loyola Blakefield’s Financial Aid Committee to process requests for the granting of aid. If filed late, requests will be considered only after those previously submitted have been processed and if funds are still available.
The Parent Financial Statement (PFS) should be completed online and is accessible via the hyperlinked logo below, beginning November 1, 2012. The fee for online completion is $35.00. (some parents find it helpful to order their own family report at an additional cost ). For questions regarding the completion of the PFS forms, please call 1-800-344-8328 (Mon - Fri: 9 am - 8 pm EST, Sat: 9 am - 4 pm EST)
The Financial Aid Committee considers the financial resources of both natural parents before making an award. In the case of divorced or separated parents or parents who have never married, both parents are required to apply; therefore, each parent must file the Parent Financial Statement with School and Student Service (SSS). If either parent remarries, Loyola does consider the resources of the stepparent, bearing in mind the obligations to his/her natural children.
The completed form is then processed by the School and Student Service for Financial Aid (SSS) in keeping with standards and procedures developed by a committee of financial aid administrators from SSS member schools. This group (SSS) analyzes submitted financial information and estimates a family’s ability to pay school costs. This analysis will be provided to Loyola in a report called the Report of Family Contributions (RFC). This information is used by our Financial Aid Committee in determining its award decisions.
As a further part of the school’s verification process, a complete, signed copy of the 2011 Federal Income Tax Return with all attached schedules and W-2s must be forwarded to SSS by December 15, 2012. If considered necessary, a complete, signed copy of the 2012 Federal Tax Return may be required later in the process.
The Financial Aid Committee here at Loyola reviews all Financial Assistance requests in January and February of 2013. Notice of financial aid to new students will be provided with acceptance notification in mid-February; notice for current students will be sent with re-enrollment information in mid-March.
2. Students with aid returning to Loyola
All direct aid assistance and some endowed scholarships are never granted automatically from one year to the next; a renewed request for such assistance must be made by submitting a new PFS form and tax information. Information about the re-application process is sent to the appropriate families in late October of 2012. The deadline for applying for continuation of aid is the same as for new requests: December 15, 2012. Notice of financial aid to continuing students will be given by mid-March of 2013.
Academic Standards
In order to maintain any type of financial assistance, a student must adhere to Loyola’s academic standards relative to the type of aid received. For example, some awards and scholarships require that a student maintain a 3.0 Grade Point Average, whereas other types of aid require a 2.0 Grade Point Average. Any student who does not maintain the appropriate academic standard may have his financial award withdrawn.
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