Financing Catholic Education at St. Ursula School

Catholic school is certainly an investment in your child’s future that will last a lifetime, but how you will pay for it is a question most parents struggle with. We have outlined below an example of just some of the returns you can expect from your investment at St. Ursula and some important information about how to afford this investment for your child.

What kind of returns will my child receive from an education at St. Ursula School?
• Values-based teaching grounded in the tradition of the Roman Catholic Church.
• Superior education that positions your child for a lifetime of opportunity.
• Caring and supportive learning environment enhancing your child’s self-esteem.
• Daily wellness activities that develop your child’s mind, body, and spirit.
• Safe, secure, and peaceful atmosphere of respect, re-enforced by discipline.
• Open, collaborative communication focusing on what’s best for your child.

You understand these values, but you may need a plan to finance your child’s ability to experience them at St. Ursula School.

Take a moment to review the tuition at St. Ursula as well as the financial options available to you.

2008-09 Kindergarten thru 8th grade tuition
# of K-8 children	Per year	Per month – 10 months (Aug -May)
1 child	$2725	$272.50
2 children	$4525	$452.50
each additional child	$1050 additional per child	$105 additional per child

Option # 1 Diocesan Scholastic Opportunity Fund & Bishop’s Education Fund
We encourage all families to apply for tuition assistance through the Diocesan Scholastic Opportunity Fund and The Bishop’s Education Fund. Approximately 25% of all families at St Ursula receive some type of tuition assistance. In order to apply you can obtain an application for Student Aid through the school. You can request one be sent to you here. This application will require a copy of your family’s 2007 W-2. To ensure confidentiality and a systemized approach to need assessment, the student aid form should be mailed directly to Private School Aid Service in Lakewood, Ohio. The application processing fee is $20. This fee covers processing for both the Scholastic Opportunity Fund, The Bishop’s Education Fund and the Educational Improvement Fund (detailed below).

Option #2 St. Ursula EITC Fund
Through the generosity of local businesses and the Educational Improvement Tax Credit, St Ursula School is able to offer additional tuition assistance for those who qualify. Application for the EITC funds, Scholastic Opportunity and Bishop’s Education Funds are all completed on the same form described above. Financial assistance awards are based upon your family’s income, number of dependents and any extenuating circumstances. Financial assistance awards vary depending on your family’s financial situation as well as the amount of funds budgeted for financial assistance by the Diocese and St. Ursula School. A couple with one child making $$60,000 plus $10,000 for each additional dependent will qualify for some form of financial assistance. If you decide to apply and need help completing the application, please call the school office at (412) 486-5511.

Option # 3 Pay In Full
You can pay in full by August 15th, 2008 without incurring any late fees.

Option #4 SMART Tuition Payment Plan
If you have an outstanding tuition balance that is not covered by tuition assistance and you do not wish to pay in full by August 15th, you must participate in the SMART Tuition Payment Plan. Our partnership with SMART allows you to take advantage of a monthly payment option. This is the most popular option at our school. Currently, over 90% of parents with outstanding balances use SMART to finance their child’s education.

What is SMART?
SMART partners with colleges, universities and private schools to help make education more affordable for students and families. SMART provides families with the following benefits:
• Interest-Free Monthly Payment Options (Total tuition bill is divided over 10 months)
• The option to withdraw tuition payments directly from your checking account, eliminating the need to remember to send one more bill!
To select the interest free payment plan option offered by SMART, you can obtain a copy of the application from the school office or request one here. SMART charges a one time set up fee of $30 for the first year only.

Regardless of which payment option you choose, you will find the investment made in a St. Ursula education is one that will pay dividends for many years to come!