Tuition and Financial Assistance

The Trustees of Morgan Park Academy remain committed to providing a top-quality, mission-driven education. As an independent school, we rely primarily on tuition revenue and the generosity of our donors to maintain the excellence in our academic programs.

• Tuition
• Tuition Payment Plan
• Sibling Discount
• Financial Assistance
• Financial Assistance Policy
• How to Apply

Tuition

Each winter, the Board of Trustees sets the tuition for the following year. Tuition and fees for the 2010-2011academic year are as follows: 

In addition, newly enrolling students in Grades K-12 will pay a one-time registration fee of $500. Books, gym uniforms, and other activities—such as field trips—may incur additional fees.

Tuition Payment Plan
Re-enrolling families pay a 10% deposit to secure their place in the coming academic year. Newly enrolled families must pay 20% of the tuition amount at the time the contract is due.

Payment Plans
Morgan Park Academy offers the convenience of three payment plans: Annual, Quarterly (four quarterly payments), or Monthly (11 monthly payments).  Payments are due the 5th or 20th of the month as per the FACTS agreement.

Annual - You may choose whether or not to participate in the Tuition Refund Insurance plan. This payment is due June 5, 2010.

Quarterly and Monthly Plans - Tuition Refund Insurance is included in the fees. Pre-authorized payments are required for the Quarterly and Monthly plans via FACTS Tuition Management. The enclosed agreement must be returned with your updated banking or credit card information.

Sibling Discount
Families enrolling more than one student in Morgan Park Academy are eligible for a 5% discount on tuition for the second and subsequent children.

Financial Assistance
The Board of Trustees has made a substantial commitment to ensure that a Morgan Park Academy education remains within reach for academically qualified students. Our financial assistance program for students with demonstrated need is made possible through the generosity of parents, alumni, and other donors who appreciate the value of an Academy education and wish to extend it to others.

Approximately 25% of the student body receives need-based financial assistance; awards average 25% of the tuition, although they vary based on the individual needs of each family.  

The goal of financial assistance is to recruit and retain students whose abilities, talents, and potential meet the demands of the Academy’s rigorous academic program, and whose families are committed to this mission; and to recruit and retain a diverse student body in order to provide a better educational experience for all students. To this end, the following apply:

• Financial assistance is awarded based on demonstrated financial need.
• A child must be accepted to the school before applying for financial assistance.
• All applicants must apply for financial assistance each year. Financial assistance is not automatically renewed.
• All financial assistance applicants must adhere to the financial assistance calendar.
• All financial assistance decisions are made by the Financial Assistance Committee.
• The Financial Assistance Committee will review requests as circumstances change.

How to Apply          
Morgan Park Academy uses FACTS Financial Assistance system to assist in collecting relevant financial aid information. To be considered for a financial assistance award, families must furnish detailed financial information by filling out the FACTS Application for Financial Assistance completely. This will require submission of a copy of last year's IRS Form 1040 and W-2 forms for the last two years. The Academy reserves the right to modify the financial aid grant if information submitted on the Financial Assistance Application is significantly different from that on the IRS Form 1040. All families’ financial information is kept strictly confidential.

Click here to apply for financial assistance.
Please contact the Admissions Office for more information.