Affording WMA
All of us at Wilbraham & Monson Academy have tremendous respect for the significant personal and financial sacrifices parents make to ensure that their children have a meaningful educational experience. Since our founding in 1804, we have worked closely with families from varied social and economic backgrounds to make it possible for their children to attend the Academy. For a school of our size, we have an extremely generous financial aid budget. It is, however, finite and is frequently fully allocated by mid-April. For this reason, it is important that families anticipate their needs, apply early for assistance, and create a balanced financial plan.
The Financial Aid Committee is responsible for making all financial assistance awards. This committee reviews the results of the School and Student Service calculations and determines what award, if any, is appropriate. We consider special circumstances and pledge to do our best to enable families with documented need to enroll their children at WMA. To this end we work in partnership with all Wilbraham & Monson Academy families knowing that both they and we are making a significant commitment to their children.
Financial assistance awards for ensuing years are based upon the most current family financial information. Awards are renewed for students whose families have documented need and who continue to be in good academic and social standing at the Academy.
FINANCE OPTIONS AVAILABLE TO OUR FAMILIES
The Academy strives to provide affordable and convenient payment options to help you manage your costs. If it is not financially feasible for you to pay your tuition in two installments, then you must enroll in one of the following plans:
The Monthly Payment Plan offered by Tuition Management Systems or Sallie Mae (800-635-0120) allows you to pay annual expenses, interest free, over a period of up to 12 months.
Student Loan Programs – Offer extended terms with the benefit of low monthly payments. The following providers offer loans from $1,000 to the total cost of tuition less any financial aid, with no prepayment penalties.
Your Tuition Solution – yourtuitionsolution.com, 1-800-920-9777, Springstone Financial, 2 Park Central Drive, Suite 100, Southborough, Ma. 01772
FINANCIAL AID
For families who might otherwise be unable to fully afford a WMA education, we are committed to supporting a program of financial advice and assistance. No family should hesitate to apply to the Academy because of an inability to pay the full cost of our tuition.
Your individual family circumstances and financial need determine whether you qualify for assistance. Our Financial Aid Office will be happy to advise you regarding your financial aid eligibility and your payment options.
The goal of the Financial Aid Program at Wilbraham & Monson Academy is to assist qualified students whose families could not otherwise afford an independent school education
Financial aid at WMA is made up of financial grants (money which does not have to be paid back). Grants are awarded to families who show financial need, defined as the difference between the family's resources and the child's educational expenses.
Wilbraham & Monson Academy uses a standardized approach to calculations, a methodology devised by Educational Testing Service and administered by the School and Student Service for Financial Aid
APPLICATION TIMETABLE FOR FINANCIAL AID
Returning families must complete their Parents’ Financial Statement with SSS by December 15, 2010, new students by January 15, 2011. You will also need to submit to SSS your 2009 tax returns and 2010 (when they become available). Financial Aid decisions will be mailed after February 1st for returning students and in March for new students. To begin your financial aid application for the 2010-2011 school year, follow the steps below.
Applying Online:
· Starting on November 1, 2010, go to sss.nais.org to begin your financial aid application.
· Click on the prompt to begin your Parents’ Financial Statement (PFS). You only have to complete one PFS even if you have several children attending our school. You will be given a password that will allow you to return to your PFS at a later date before submitting it.
· You will be given instructions about submitting required backup documents by mail. Your documents will be handled with the utmost level of security. To read more about SSS’s document security go to sss.nais.org.
· Mail the required backup documents to: SSS by NAIS, Application Processing Center, P.O. Box 449, Randolph, MA 02368-0449 For overnight mail, use this address: SSS by NAIS, Application Processing Center, 437 Turnpike Street, Canton, MA 02021
Please note: applying online is the preferred method. It will allow for faster processing of your application. If you are unable to file online and need a printed Parents’ Financial Statement, please call 413.596.9108 to have one sent to you.
Late Applications for Financial Aid: Families who have initiated the application process too late to allow them to comply with the deadline for filing for financial aid are encouraged to proceed. However, the financial resources cannot be guaranteed, and amounts of grants awarded at this time are likely to be limited.
Currently 30% of students at Wilbraham & Monson Academy receive financial assistance.
Wilbraham & Monson Academy does not discriminate against any person in admission, financial aid, program involvement, employment or other wise because of race, religion, national origin, disability, sex, sexual orientation, or age.
TUITION
The following tuition has been established by the Wilbraham & Monson Academy Board of Trustees for the 2010-2011 academic year. The amounts listed correspond with the various grades and/or programs at the Academy. These amounts do not include any financial assistance.
Boarding Student $45,500
Upper School Day Student $29,715
Middle School Day Student $25,000
Those students accepted into the Academic Services Program will be assessed an additional tuition charge of $5,000.
FEES
The following fees, with the exception of the Senior Fee and Middle School Fee, are mandatory for all students at Wilbraham & Monson Academy. They represent costs incurred by the Academy for various programs.
Tuition Refund Program: Boarding Student $600, Day Student $400
The educational cost to attend Wilbraham & Monson Academy is a substantial investment. Independent school expenses are incurred on an annual basis; therefore, Wilbraham & Monson Academy cannot refund tuition or cancel unpaid obligations in the event of your child's separation during the academic year. The Tuition Refund Program protects your financial obligation in the event your child should withdraw or be dismissed from the Academy. Participation in the Tuition Refund Program is mandatory for all students, excepting those students whose tuition is paid in full prior to Registration Day. In this case you may choose not to participate in the plan by signing a waiver within the Business Office.
Health Services Fee: Boarding Student $125, Day Student $50
This fee covers the cost of providing on-campus health service to Academy students, inclusive of dispensing over-the-counter medications, on-campus physician visits, routine health evaluations, physician referrals, and the administrative costs associated with student health insurance programs.
This fee does not cover transportation to and from off-campus medical centers (distance determines this fee), any prescription drug, or laboratory test ordered by a physician.
Technology Fee: Boarding Student $500, Day Student $150
This fee provides technology-oriented resources and services to students while at the Academy. This includes services as e-mail, the school intranet, lab and classroom media devices, and library electronic resources.
Commencement Fee: $150 (when applicable)
This fee is assessed to all 12th grade and postgraduate students expecting to graduate from the Academy.
Middle School Activity Fee: $500 (when applicable)
This fee is assessed to all middle school students for their activities and related trips during the Academic year.
Parents Association Fee -- $50 per Family
The Parents Association is a partnership with the Academy that enhances our students valuable educational experience, supports various aspects of our students Academy life and fosters close parent relationships through parent socials.
INTERNATIONAL STUDENT PROGRAM FEES
Administrative Fee: $2,500
This fee covers the cost of all administrative expenses associated with our international students, including international mailings, communication and immigration concerns, such as I-20 forms and Visas
Academic Program Fee: $2,700
This fee covers the cost of academic courses specific to the needs of our international student body. Courses include two advanced levels of English as a Second Language and United States History for International Students. Students who require any of these courses will be determined when the 2010-2011 course registration is completed in September of 2010.
International Student Health Insurance: $1,595
This fee is mandatory for all international students who DO NOT have primary health coverage with a United States insurance company. It will provide the student with excellent financial protection in the event of illness or injury during the academic year. Each participating student's family will receive a certificate of insurance coverage and Personal Identification Card at the start of the Academic year. The coverage is in effect for a 12-month period from August 15, 2010 to August 15, 2015.
DEPOSITS
The following deposits are mandatory for all students at Wilbraham & Monson Academy. Any portion of any deposit which is not utilized by the student will be applied against the Tuition portion of the student bill or refunded to the family at the end of the Academic year.
Spending Account Deposit
$1000 International Student
$ 900 Boarding Student
$ 800 Day Student
$ 700 Middle School Day Student
The purpose of this account is to provide funds for educational, instructional and social expenses. This deposit for both boarding and day students is required at the beginning of each school year. Expenses such as the following are charged against the spending account: school store purchases, school sponsored events, Art and Computer course fees, College Board Entrance Examination fees, transportation to and from medical appointments, optional bus trips, and other student related activities. New students are assessed a $100 fee for their Athletic Warm up suit. This account may not be a source of cash for allowance or other needs.
An itemized accounting for the spending account is rendered to parents each month. Parents are expected to keep a minimum credit balance of $50. When the balance falls below $50, the Academy will charge sufficient funds to the student's tuition account and credit the spending account to restore a workable spending balance. A credit balance at the end of the academic year is refundable, but returning students will have their credit balance forwarded to the next year.
Dormitory Security Deposit $100 (Boarding Students)
The security deposit is for the use of Academy dormitories. This deposit will be credited to student accounts at the close of the academic year once all dormitory rooms have been assessed for damages. The cost for repair work of any damage in the student's room, as well as in any common area, is charged to this deposit as incurred.
Key and Lock Deposit $100 (Boarding Students, dormitory room and mailbox key), $25 (Day Students, mailbox key only)
This deposit is used at the end of the school year to replace a lock and key if a room or mailbox key is not returned. The total deposit will be credited back to the spending account if the key is returned, with the exception of $5 for the mailbox key, which is given to the student as an incentive to return the key promptly.
If you have any questions concerning the above-mentioned tuition, fees, or deposits, please contact the Office of Admission at Wilbraham & Monson Academy.
