FAMILY CIRCUMSTANCES

Divorced Families, Separated Families, Unmarried Parents

Unless a parent is deceased, the Financial Aid Committee expects that both biological parents contribute to a student’s educational expenses. Therefore, financial information is requested from both biological parents. An award may not be granted if data from only one biological parent is provided. If one parent is not in contact with the student and has no role in the student’s life, NA will request the custodial parent complete a waiver as part of the financial aid application and awarding process. If a biological parent does not complete the financial aid process, they will not be given access to or receive any information from Newark Academy about their child.

Remarried Parents

The income and assets of stepparents will be taken into consideration when determining a student’s financial aid grant. The Financial Aid Committee will also take into consideration the stepparent’s financial obligation to his, her, or their own biological children.

Non-Working Parent

The Financial Aid Committee will impute wages of $30,000 annually for any non-working parent who has a child over the age of five. Consideration is made in the case of extenuating circumstances, for example, if the non-working spouse is responsible for a special needs child and/or elderly parent(s). All extenuating circumstances must be documented, in writing, at the time of application.

Privacy and Security

Information provided to the Financial Aid Committee either through the Clarity application or other communication methods is kept secure. Access to Clarity data is only available to the Financial Aid Committee. Details of a family’s financial picture are only shared with other Newark Academy employees if they are relevant and necessary to providing the best possible support for a student.