NEW TUITION PLAN
SMS My Fair Share
St Mary’s Catholic School
January 2016
Overview: It’s MyFairShare
Key questions:
What is MyFairShare?
How is MyFairShare different?
What is MyFairShare trying to accomplish?
How do we know if MyFairShare’s working?
Current Financial Aid Process
• Families apply for aide in March for the
upcoming school year
• Process includes proof of income, desire for
Catholic education and extenuating
circumstances
• Local church is asked for pledge
• St. Mary’s is asked to cover additional
expenses
• Families agree to terms and conditions of
partnering including service hours,
academics and attendance.
What MyFairShare Is
The Facts and Philosophy
Every student deserves a quality Christian education that is
accessible and affordable.
The current process of limitless financial assistance is a financial
strain on the parish and is no longer sustainable.
The current process does not always provide equitable and fair
distribution of funds and puts the school in a terrible position
of evaluating pastoral needs.
This plan publishes a scaled tuition ranging from 40% to 100%
of actual cost.
How we talk about MyFairShare
Students are not “on” MyFairShare…
Families pay tuition below the top of the index
Families pay tuition that is affordable for their
economic profile
MyFairShare makes an SMS education
accessible to families from a wide range of
economic circumstances
MyFairShare supports the school’s commitment to
economic diversity
How MyFairShare Is Different
The Process
Families submit current year’s Tax Return and registration fee
with letter of intent by March 15.
The finance committee will evaluate tax information in
context of budget to determine a families fair share
Families will be asked to contribute between 40 to 100% of
Actual Tuition
Families repeat the process each year
Families will be notified by letter by April 15th of expected
Contribution
What MYFairShare will Not change
Families will continue to receive a $100 per month stipend from their home
Parish – regardless of MyFairShare range.
Families will continue to receive multi child discounts
Academic, attendance, behavior and financial requirements must be upheld to
continue discounted tuition
Enrichment, Athletic and other fees will continue to be in addition to tuition
Fund raising obligations twice a year will remain unchanged
Teachers will continue to receive one child free and additional children at the
multi-child discounted rate. Teachers may also get the parish stipend if they
qualify. Teachers that receive the “myfairshare” for a high school student will pay
the difference between 8th grade and high school tuition.
What MYFairShare will change
All families, regardless of indexed tuition, will be able to choose between 10 or 12
month payment plans.
Families will receive a multi child discount for high school students
Students entering high school beginning 2015 will not receive a “lock in” rate but
may be subject to incremental cost of education increases.
Any family that can not meet the expected MyFairShare rate must appeal to their
parish priest for assistance beyond qualified indexed amount based on pastoral
needs.
Additional service hours will not be required for MyFairShare
Committed volunteer hours (work trade) will not be considered for any incoming
new families
Teachers that do not have any biological children at SMS may sponser 1 child for
Their “my fairshare”.
Financial Aid
•
Traditional term, providing help
Financial Assistance
•
Slightly More Modern, synonym for help
Flexible Tuition
•
Reduced tuition to ability to pay
MyFairShare
•
Tuition at the level a family can afford
Access/affordability
Economic diversity
Retention
Recruitment
Contact Information
St Mary’s Catholic School
405 Hollybrook Drive
Longview, TX 75605
Amy Allen, principal MTS, MEd.
aallen@stmaryslgv.org
903.753.1657