What determines eligibility for financial aid?
The Financial Aid Committee offers aid based on a family's demonstrated need and the availability of funds. All students who receive financial aid are required to re-apply annually.
Are International Students eligible for need-based financial aid?
Limited need-based financial aid resources are available for Canadian and international students.
Will a request for financial aid influence the admission decision?
Initial admission application reviews are need-blind; however, Culver is need aware in the final selection process.
What do I need to submit to apply for financial aid?
Parents must complete the Parents' Financial Statement (PFS) online here after September 1, 2021. Approximately 24 hours after submission and payment of the PFS, you will have access to upload and manage the required documents.
Which documents do I need to upload to SSS?
- 2020 and 2021 federal tax returns and W-2 forms with all filed schedules and attachments (or IRS form 1099 if self-employed).
- Tax documentation for trusts, partnerships, and corporations if applicable (Form 1041, IRS Schedule K-1, Form 1065, Form 1120, or Form 1120S).
- Canadian residents: complete a PFS and upload your 2020 and 2021 T1's and T4's under the 'Additional Document' heading.
- International students: complete a PFS and upload a completed copy of the International Student Financial Aid Profile and proof of income in SSS.
Will my financial aid package change from year-to-year?
Culver reserves the right to adjust your financial aid package if there is a significant discrepancy between the two (2) years' tax returns. Additional financial information and records may be requested by Culver Academies. It is the parents' responsibility to provide adequate financial information in order for Culver Academies to make a decision concerning eligibility for tuition assistance.
What happens if the parents are divorced or separated?
Culver Academies considers the assets of both natural parents and/or step-parents before releasing a financial aid package, and cannot be bound by the assertion that one parent has disclaimed responsibility for educational expenses. Both natural parents and any step-parents must submit a PFS online.
Is there a minimum income a family must have in order to be considered for financial aid?
No, net income is not the only factor used in making financial aid decisions. Assets, debts, and number of dependents are among the various factors that Culver Academies considers, and these factors may have an influence on financial aid decisions.
Once a PFS is submitted is a financial aid package guaranteed?
No, due to the limited availability of financial aid resources, financial aid packages are not guaranteed. Additionally, Culver is not always able to meet 100% of full demonstrated financial need.
Is financial aid renewed each year automatically?
No, Culver Academies requires families receiving financial aid to reapply each year. However, once financial aid has been awarded, it is reasonable to expect that it will be renewed each year, providing a family’s situation does not change substantially. Changes in a family’s financial situation could result in an increase or decrease in financial aid, depending on individual circumstances. Although Culver Academies makes every attempt to continue financial aid once it has begun, awards may be eliminated or adjusted if financial, academic, or behavioral factors warrant such action.
Are the financial aid awards kept confidential?
Yes. The Financial Aid Committee does not discuss financial information with anyone except those directly involved in the decision process.
Is it possible, aside from financial aid at Culver Academies, to help families meet educational expenses?
Yes, Culver Academies has a 10-month tuition payment plan available.
Is there a repayment obligation involved when a family receives aid from Culver Academies?
No, all grants are provided by the generosity of alumni and friends of Culver Academies and have no repayment obligations.
What is the difference between a need-based award and a scholarship/merit-based award?
Need-based awards are given to those who show a demonstrated family need through SSS. Scholarship/merit-based awards are given to those who demonstrate academic or leadership excellence through the application process and are usually selected by special Faculty Committees and the Financial Aid Committee.
Are there different types of scholarships?
Yes, we have four (4) full scholarship programs – Batten, Duchossois, Roberts, and Huffington. Each Distinguished Scholarship has its own unique set of selection criteria. Learn more about our Distinguished Scholarships here.
