FINANCIAL AID ALLOWANCE

While Newark Academy strives to minimize incidental costs, NA has set aside funds to help families receiving financial aid with incidental expenses. Each student receiving financial aid is provided an allowance from NA’s discretionary budget.

Allowances are calculated individually based on the student’s financial aid grant for the current academic year and relative to all other recipients and the total Financial Aid discretionary budget. The Office of Financial Aid will communicate the amount of the student’s discretionary aid allowance at the start of each school year.

The Office of Financial Aid will work directly with the Business Office to apply financial aid to incidental charges through FACTS, Newark Academy’s electronic billing system.