FACTS and Financial Aid January 21, 2016 Access this presentation at: csfboston.org/schoolsonly.html
Meeting Objectives To promote best practices for assigning financial aid To communicate expectations and explain tools to help assign financial aid To more closely align school s financial aid practices with CSF s intent for scholarship funding and the CSO s mission
CSF Mission The Catholic Schools Foundation changes lives by providing families with demonstrated financial need an opportunity to give their sons and daughters a quality education, focused on Christian values and character formation at Catholic Schools located throughout the Archdiocese of Boston, regardless of race, religion, ethnicity or gender.
CSF Operating Principles We support the concept of a strong Catholic Schools Office with a clear mandate, established and measureable standards for school quality, dedicated resources and adequate authority to rationalize and thereby strengthen the network of schools in the Archdiocese of Boston. The CSF will significantly focus its allocations in support of this objective and will direct funds towards schools that are viable in the long-term and away from schools that are not meeting the standards. Our ultimate objective is to maximize the number of children attending quality Catholic schools in the Archdiocese of Boston while enhancing opportunities for disadvantaged students.
School Data FY16 88 Schools 29 High Schools 59 Elementary Schools 3,793 Scholarship Recipients 742 High School Students 3,051 Elementary School Students *Does not include Emergency Fund
School Data FY16 Range of Student Scholarship Amount $500 to $13,332 High School $100 to $5,000 Elementary School Average Award as Percent of Tuition 32% High School 34% Elementary School Average Award $3,510 High School $1,458 Elementary School *Does not include Emergency Fund
Scholarship Recipient Data FY16 Median Total Family Income $37,500 High School $34,683 Elementary School Median Total Family Income per Capita $9,375 High School $11,561 Elementary School *Does not include Emergency Fund
Scholarship Recipient Data FY16 Student Ethnicity 30% Hispanic 27% African American 24% Caucasian 5% Asian 13% Other Student Religion 75% Catholic 20% Other Christian 5% Other Non-Christian Single-Parent Family 60% *Does not include Emergency Fund
FY15 Scholarship Recipients with No Award FY16 FY15 Elementary School Scholarship Recipients with No Award FY16 711 Students or 28% of Eligible Students Reasons for No Award FY16 Did Not Apply (27%) Did Not Qualify (14%) Assigned Other Aid (10%) Not Enrolled (49%)
Emergency Fund Data* Approved Emergency Awards: $173,725 97 Students 37 Schools (12 High Schools, 25 Elementary) 4 Non-CSF Funded Schools Average Award: $1,791 Average Total Family Income: $54,418 Average Family Size: 3.8 *As of Round 2 of 4
Admissions Process School Staff Participation in the Admissions Process: 1-2 People 41% of respondents 3-5 People 41% of respondents 5+ People 18% of respondents
Assist Families with FACTS Process Principals 47% of respondents Business Managers 47% of respondents Tuition Coordinator 41% of respondents Administrative Assistant 29%
Make Financial Aid Decisions Principals 88% of respondents Pastor 35% of respondents Business Managers 24% of respondents
FACTS Users Business Manager 47% of respondents Principal 41% of respondents Administrative Assistant 41% of respondents 29% Tuition Coordinator 18% Admissions Director
Deadlines February 26 Elementary School Grant Notifications June 30 Returning students awards assigned to General and HRI/NIS funds (applications must be verified) September 15 Names of PL Scholars in FACTS September 30 All Retention, Recruitment, and new HRI/NIS funds assigned in FACTS (applications must be verified)
CSF Scholarship Funds Each school should create three funds for CSF scholarships: General, Retention, and Recruitment. The total of the Retention fund and the total of the Recruitment fund cannot exceed the school s total FY17 Retention and Recruitment grant. Only schools with Hispanic Recruitment Initiative/New Immigrant Scholarship students/grants need to create an HRI/NIS fund.
General Fund For returning, qualifying students who received General, Retention or Recruitment scholarships in the 2015-2016 school year. The scholarship amounts cannot change. FY16 Retention and Recruitment scholarships become General scholarships in FY17. If a student received a General scholarship AND a Retention scholarship in FY16, the General scholarship for FY17 is the sum of these two awards. If a student withdraws from the school or does not requalify for aid, the school cannot re-assign the award in any fund.
Retention and Recruitment Funds Retention For returning students who did not receive a scholarship the previous year OR students in General or HRI/NIS funds who require additional scholarship support. Recruitment For students who are new to the school.
HRI/NIS Fund For returning, qualifying students who received HRI/NIS scholarships in the 2015-2016 school year AND for new students to the school who are recruited through a FY17 HRI/NIS grant. The scholarship amounts cannot change for returning students.
PL Scholars
PL Scholars The Peter Lynch (PL) Scholar program was established in 2010 to honor the 20 th anniversary of Peter Lynch s involvement with the Catholic Schools Foundation and Inner City Scholarship Fund. A minimum of one and a maximum of five students are to be designated as PL Scholars at each elementary school based upon the criteria on the following slides Additionally, each year, at least one 8 th grade student should be honored as a PL Scholar. The names of graduating 8 th grade PL scholars will be shared with Catholic high schools in the Archdiocese of Boston.
PL Scholar Profile Total Family Income Family of 4 $34,683 Percent from Single-Family Homes Ethnicity 60% 76% Non-White
A PL Scholar is a student who PL Scholar Criteria is a current CSF scholarship recipient in grades kindergarten through eight, has excellent academic achievements and work ethic, exhibits care for others in the school community, will have his or her life impacted significantly by a Catholic education, is unable to attend a Catholic school without financial assistance, has a demonstrated financial need and continues to demonstrate that need each year through FACTS (by June 30), has an average total family income similar to that of the PL Scholar profile, receives an award that significantly contributes to the family s financial obligation, attends the PL Scholar Mass and Reception with at least one school representative in the fall, signs a release of information form through their school for CSF.
Please Join Us! CSF Board of Trustees Pastors and Principals Reception March 31, 2016 4:00-6:00 PM St. Julia s Parish, Weston