Admiral Farragut Academy is committed to attracting a diverse and talented student body. The mission of our financial aid program is to make it possible for deserving students whose families do not have the financial resources to fully meet the cost of an AFA education to attend. We believe the primary responsibility for financing a child’s education rests with the family and as such we look to them first to finance educational expenses to the extent their resources will allow.
To assist families in managing expenses we offer options such as monthly payment plans and loans, but often, payment plans and loans alone will not be sufficient to enable their child to attend AFA. In these cases families can apply for additional need-based assistance. However, as a result of our limited budget, each year we have more families who qualify for assistance than we are able to fund.
You can also check out the NAIS Financial Aid Tutorial.
A potential AFA student must first be offered enrollment before consideration can be given to financial assistance. In common with most independent schools, AFA's Financial Aid Committee determines a family's contribution beginning with the standardized calculation derived by the School and Student Service for Financial Aid (SSS), based on information provided by the family on the Parent Financial Statement (PFS). (Currently there is no financial assistance for international students) This system considers gross taxable income, assets, liabilities, family size and number of students enrolled in tuition-charging schools. After an allowance for basic necessities and taxes, the remaining funds are considered discretionary income, potentially available for education.
In accordance with academy policy, AFA requires documentation in addition to the PFS (personal and corporate tax returns, Business/Farm Statement for those who are self-employed or own small businesses) to be submitted directly to the academy’s Admissions Office. As a result, AFA's calculated parent contribution may differ from the SSS calculation. For example, AFA will disallow depreciation and most losses on second homes and investment properties and hobby businesses. AFA will also consider the potential for income to be earned by an able, non-working parent who does not have children under the age of four at home.
In cases of divorce or separation, both natural parents are required to submit all required paperwork. If it is impossible for either parent to complete an application, please contact the Admissions Office for further instructions. If either parent has remarried, the application should include the step-parent’s financial information. AFA will consider the finances of a step-parent, bearing in mind the step-parent's obligation to his or her own natural children. AFA must consider the finances of any relatives or other individuals who are interested in taking a fiduciary responsibility in the education of a potential AFA student.
Additionally, if a family has children in other tuition-charging schools, they are expected to apply to those institutions for aid as well. AFA reserves the right to verify enrollment/cost/aid for the sibling(s) enrolled at other institutions.
Finally, due to the additional cost of participation in the aviation program here at AFA, the families of students who opt to enroll in our flight program will not be eligible for financial aid.
If there is continuing need, families are required to apply for aid each year their child is enrolled at AFA. Awards may be adjusted if the family’s financial circumstances change.
Families whose children begin their career at AFA without financial aid will be given consideration in subsequent years if financial circumstances change dramatically.
Financial aid application forms and instructions are mailed to parents of applicants who have first been offered enrollment at AFA and have indicated that they intend to apply for financial aid. They are also mailed to the families of current aid recipients not scheduled to graduate at the end of the current year.
Admiral Farragut Academy has earned approval from the Department of Veterans' Affairs to receive veterans' educational benefits for eligible students, who have qualified for acceptance to AFA.
For more information please contact the admissions office, admissions.