Gwynedd Mercy Academy Financial Aid Eligibility Requirements.
The financial aid program established by Gwynedd Mercy addresses the requirements of Act 4 of 2001 of the PA Legislature according to the following guidelines:
1. Eligible students must be residents of Pennsylvania and must be enrolled in Gwynedd Mercy Academy for the 2009-2010 school year.
2. Eligible students are members of households with an annual household income of not more than $50,000, except that an additional income allowance of $10,00 is permitted for the student and for each other dependent living within the same household.
A household includes an individual living alone or an individual living with the following:
a. a spouse, parent and their unemancipated minor children;
b. other unemancipated minor children who are related by blood or marriage; or
c. other adults or unemancipated children living in the household who are dependent upon the individual.
3. In determining student eligibility, all moneys and property received of any nature and from whatever source are to be included, except for the following:
a. periodic payments for sickness and disability other than regular wages received during a period of sickness or disability.
b. disability, retirement or other payments arising under workers' compensation acts, occupational disease acts and similar legislation by any government.
c. payments commonly recognized as old age or retirement benefits paid to persons retired from service after reaching a specific age or after a stated period of employment.
d. payments commonly known as public assistance or unemployment compensation payments by a government agency.
e. payments to reimburse actual expenses.
f. payments made by employees or labor unions for programs covering hospitalizations, sickness, disability or death, supplemental unemployment benefits, strike benefits, social security and retirement.
g. compensation received by United States service persons serving in a combat zone.
4. The amount of financial aid awarded to or on behalf of a student will not exceed the actual amount of the tuition and fees charged by Gwynedd Mercy Academy High School or exceed the actual amount of tuition and fees charged by the school to non-scholarship students.
5. There will be no rebates or refunds of financial aid for students who withdraw from Gwynedd Mercy Academy prior to the end of the period for which tuition has been paid.
6. Strict confidentiality will be maintained concerning all aspects of student eligibility in the financial aid program, including income information.
7. All applicants for financial aid must submit the Parents' Financial Statement (PFS) from the School and Student Service for Financial Aid (SSS). The PFS is the information-gathering tool SSS uses to assemble pertinent data from families. This information, processed according to a standard methodology and a sound economic rationale, estimates how much families can contribute to their children's education. This information is analyzed, and a report is sent back to Gwynedd Mercy for use in determining financial aid eligibility.
8. The Steps of the SSS Process
a. Gwynedd Mercy will distribute the PFS and the Family Guide to Financial Aid to interested parents.
b. Parents complete the PFS and submit it to SSS with the processing fee.
c. SSS analyzes the information on the PFS.
d. SSS sends schools the Report of Family Contribution --School Report for each applicant and a copy of the PFS completed by parents.
e. SSS will also send a cumulative roster, a listing of applicants in ascending order of family contribution so that the neediest applicants are readily identified.
9. Financial aid awards will then be made on the basis of the family financial need.
All applications for financial aid should be submitted to SSS by MARCH 1, 2009 to allow time for processing the applications. The application should be based on your 2008 income tax report.
Gwynedd Mercy will make all financial aid awards at the beginning of April. If the full tuition has already been paid, the award money will be forwarded to next year's tuition account.