As a private, independent school, Eastgate Academy is entirely funded through investment from families and members of the community. The founding families have secured investment from the community to cover facility costs and capital expenses. The tuition fees paid by students’ families are a direct investment in learning as they contribute to staff salaries, instructional materials and educational programs. We know that investing in your child(ren)’s education is a big decision. One of our blog posts, Investing in Education describes a variety of factors to consider when making the choice for your family on whether or not to enrol your child in a private school.
Eastgate Academy acknowledges the importance of supporting the growth of the Eastgate community by providing financial aid. To support this process, Eastgate has partnered with Apple Financial Services, an organization that aims:
- To provide quick, insightful, unbiased evaluations of the financial resources available to applicants
- To act as a financial assistance advisor and consultant to the finance and admissions departments of private schools, to help them effectively manage and continually improve their application process (Apple Financial Services, 2016).
How does it work?
- Families interested in having their child(ren) attend Eastgate first apply to the school. After submitting the application to the school, families can then apply to Apple Financial Services (families may wish to wait for the admissions decision prior to applying to Apple Financial Services).
- Interested families submit an application to Apple Financial Services, and the organization “Financial Aid for Canadian Students” (FACS) provides an analysis of the financial supporters’ ability to contribute towards educational expenses (Apple Financial Services, 2016). One application is submitted per family (not per child).
- The application is processed in a way that keeps with any standards/procedures that are developed by the School. The basic view of the member schools is that parents should finance their children’s education to the extent they are able (Apple Financial Services, 2016).
- The application, tax information, and final analysis is shared directly with the school to assist with awarding financial aid.
- This application must be filed each year.
How is my application kept in confidence?
When you send an application to FACS, you are giving permission for an analysis to be done and for the computation of the recommended parental contribution to be provided to the named schools. As you complete the application, you should know that the information that you provide will be held in complete confidence (Apple Financial Services, 2016).
Who makes the financial aid decision?
The FACS organization does not make decisions about the amounts of financial aid awarded; it only makes recommendations. The financial aid committees at the schools make the final decision. Direct any questions you may have about awards to the school. The suggested family contribution is based on the current year’s projected income and assets (Apple Financial Services, 2016).
Where does the funding come from?
The offer of assistance/funding will come from Eastgate Academy, not FACS. FACS provides the analysis, which is used by the schools as one of the components to determine the level of assistance able to be offered to the family applying. The analysis is provided to the school for exclusive use and is not available to the applicants (Apple Financial Services, 2016).
Selecting Applicants
The following considerations are made when selecting and approving applications for funding:
- Applicants for financial assistance have applied to Eastgate Academy for Grades 6 and up, and have gone through the admissions process (admissions assessment, interview, etc.)
- Applicants meet the admissions requirements of the school
- Children of Eastgate Academy Staff members will be prioritized
For the 2023-24 academic year, Eastgate Academy will strongly consider the recommendations from Apple Financial (there will be no cap on the amount of financial aid). This will be reviewed and is subject to change for the 2024-25 academic year.
References:
Apple Financial Services. (2016). About Us. Retrieved December 1, 2022, from https://www.applefinancialservices.ca/about
