1. What is the deadline for applying for financial aid at Covenant? What happens if I miss the deadline? Returning families seeking financial aid must submit their completed FACTS application by February 28th to be eligible for the first-round of financial aid. Award decisions will be communicated to re-enrolling families who meet the application deadline by March 15. Thereafter, the Financial Aid Committee will meet at the beginning of every month, and make a new round of award decisions. New families may apply for financial aid at any time before May 31st. Applications received after the May 31st deadline will be evaluated by the Committee on a case by case basis. Please see question #3 for further detail on re-enrollment.
  1. Do I have to be admitted to Covenant before applying for financial aid? You may create a FACTS account and apply for financial aid any time before May 31st. However, your assessment will not be reviewed by the school’s Financial Aid Committee until you have received an offer of admission to Covenant.
  1. How do I re-enroll at Covenant? Re-enrollment at Covenant occurs during the month of February. In order to reserve a seat, a family must re-enroll by completing online re-enrollment forms, signing up for a FACTS tuition payment plan,[1] and paying a re-enrollment fee. The cost of re-enrollment is offered at a lower rate of $200 during the month of February and returns to $250 on March 1. While families can wait to pay the re-enrollment fee until after receiving a financial aid award, please be aware that the only way to guarantee your place is to complete the online re-enrollment packet and pay the non-refundable re-enrollment fee. If you are in a class with a waiting list, we strongly encourage you to reserve your place by completing re-enrollment in February rather than waiting until April. If a family does not submit a financial aid application by February 28, they may still do so after the deadline, but their assessment may not be ready for the Committee to review in the first round of awards. Upon receiving a financial award offer, a family will have 10 days to accept or decline the offer in writing. If after ten days an award is unclaimed it will be returned to the financial aid fund to be available to other families. The school will contact you to confirm your intentions for next school year.
  1. How much does it cost to apply for financial aid? FACTS charges a $35 fee. Covenant will not receive your assessment until this fee is paid.
  1. Do I need to re-apply for financial aid every year? Yes, you will need to submit a FACTS financial aid application every year that you desire to receive financial aid.
  1. Who is eligible to receive Financial Aid? Any student admitted to Covenant’s K-12th grades with demonstrated financial need is eligible to receive financial aid. Covenant does not offer financial aid for Pre-K students or for students in our International Student program. Covenant has a limited amount of financial aid funds each year, so the school cannot guarantee that an applicant will receive financial aid.
  1. What happened to multi-child discounts? In 2016 the school announced a restructuring of its financial aid system beginning in the 2017-18 school year. The school no longer gives “automatic” discounts based solely on non-financial categories – e.g., multi-child, pastor, or employee, etc. – and instead awards financial aid based solely on financial need. The goal is to be able to direct our financial aid dollars more efficiently to the families who need it most while also helping the school to receive tuition from families who can afford it.
  1. How do I apply for financial aid at Covenant? Covenant partners with FACTS Grant & Aid Assessment to provide independent, third-party analysis of financial aid applicants. Families seeking financial aid must create an account with FACTSmgt.com and submit a financial aid application. There will be a link on Covenant’s website as well as a portal through RenWeb Online Enrollment for families to access FACTS. To learn more about FACTS, please visit their FAQ page.
  1. What information will I need to provide? In order to protect the integrity of their assessment process, FACTS requires that applicants submit a federal income tax return, W-2 forms, and supporting documentation for non-taxable income to verify household income.
  1. Who is on the Financial Aid Committee and how is that Committee chosen? The Financial Aid Committee is annually appointed by the Head of School. In order to keep the number of people with knowledge of sensitive information as small as possible, Committee member annual terms can be indefinitely renewed by the HOS. The Committee consists of the Board Treasurer, Business Manager, and At Large Member. The Head of School is an ex officio member.
  1. Who will have access to my FACTS financial aid assessment? Aside from the people assigned to your application at FACTS, the only people at the school who will have access to the FACTS financial aid assessment are members of the Financial Aid Committee. Each member will sign a confidentiality agreement each year. Any applicant who is eligible to receive an EITC or OSTC scholarship must also agree to allow information from their assessment to be shared with the awarding entity to verify their EITC / OSTC qualification. When soliciting EITC / OSTC funds, only those directly processing your awards will have access to them. Faculty, administration, students, and board members are not informed about specific award decisions.
  1. How is my data protected? FACTS is SSAE 16 audited and PCI DSS Level 1 validated. All documents they receive are imaged upon receipt and then destroyed. For further detail on their data security, please contact FACTS directly. At the school, only the Head of School, Business Manager, and Board Treasurer have login credentials to access FACTS.
  1. Can I view my FACTS assessment? Applicants can check on the status of their application by logging into their FACTS account, but applicants are not permitted to view their FACTS assessment.
  1. What kind of financial aid is available from Covenant? All financial awards at Covenant are direct tuition grants that require no repayment. Awards are determined solely based on financial need. In general, financial aid awards do not exceed 40% of the full cost of tuition. Most awards are between 10% and 25%.
  1. What do I do if my financial situation changes or if I believe that the Committee is missing key information? If your financial situation changes during the year – such as through job loss or unexpected major expense – please contact the Business Office immediately and inform the school of the situation. Covenant will make every effort to work with you to enable your children to stay in school.
  1. How are Financial Aid decisions made? FACTS Grant & Aid Assessment provides Covenant with an analysis of each applicant’s ability to pay tuition. The Financial Aid Committee uses the FACTS assessment as a guide to help make award determinations as objective and fair as possible. Since financial aid requests exceed the budgeted amount available, the Committee takes into account all relevant information such as number of enrolled students, overall number of financial aid applicants, adherence to designated deadlines, enrollment and composition of classes, and family commitment and contribution to Covenant’s mission and values.
  1. When will I know if I have received a financial aid award? During enrollment season, FACTS requires several weeks to process applications. Beginning in March, Covenant’s Financial Aid Committee will meet at the beginning of each month to make award decisions and will then communicate these to families by the 15th of each month. After receiving an award offer, a family will have 10 days to accept or decline the offer in writing. If an award is unclaimed after 10 days it will return to the fund to be available for other families.

[1] The cost for a FACTS tuition payment plan is $20 or $50 depending upon the plan selected. This fee is paid directly to FACTS and is distinct from the $200 re-enrollment fee ($250 after March 1st) that is paid to the school through RenWeb’s Online Enrollment.