New Way Students receive over $2 million in aid and scholarships
New Way values and seeks students from diverse economic backgrounds. In order to assist families in affording a New Way education, New Way provides flexible payment plans and need-based financial aid. Additionally, several outside scholarship opportunities are available. In 2016-17, approximately 75% of New Way families received over $2 million in aid and scholarships.
Tuition for the 2017-2018 school year is $22,950. Tuition for the 2018-2019 school year has not yet been determined.
New students have a First Year Tuition Supplement of $2,500.
This supplement includes a review of records, observations, comprehensive assessments and development of an Individual Program Plan (IPP).
Flexible Payment Plans
New Way offers payment plans of 1, 2, 4, or 10 tuition payments. Tuition is to be paid online through our tuition management company, FACTS. Through FACTS, families may set up automatic payments by bank account or credit card.
New Way is committed to financially assisting families who otherwise could not afford to send their children to New Way. In recent years, approximately 25% of New Way students received need-based assistance through our financial aid program. With its financial aid program, New Way seeks to help a family bridge the gap between tuition and what a family can afford to pay. New Way utilizes the services of a third party, FACTS, to estimate how much a family can afford to pay for education. FACTS calculates a family’s “estimated financial contribution to education” utilizing demographic, income, asset and expense information provided confidentially by the family.
Financial Aid applications received by FACTS according to the following schedule will receive priority over other applications.
- March 1st – FACTS application for returning students, including one of the two most recent federal tax returns
- April 1st – FACTS application for new students, including one of the two most recent federal tax returns
- May 1st – Deadline for all students to submit their most recent federal tax return
- May – Financial aid awards announced for applications filed according to schedule
Note: Financial Aid applications received by the above dates will receive priority. Applications by new students received after April 1, but within 14 days of admissions acceptance to New Way, will receive priority for remaining financial aid funds.
Additional Scholarship Opportunities
In addition to New Way’s financial aid program, families may be able to take advantage of several scholarship opportunities unique to Arizona: the Empowerment Scholarship Account and tax-credit-based scholarships from School Tuition Organizations.
Empowerment Scholarship Accounts
The State of Arizona gives the parents of a child with a disability who is transferring from an Arizona public school the opportunity to receive an Empowerment Scholarship Account (“ESA”) to help pay private school tuition for their child. The State of Arizona directly funds ESAs. The amount of the ESA depends primarily on the child’s disability, as listed in the child’s Arizona public school IEP or MET report. A child receiving ESA funds may not receive scholarships from Student Tuition Organizations, including scholarships from New Way’s own financial aid program.
Student Tuition Organizations
Student Tuition Organizations (STOs) receive tax credit donations from individuals and corporations for the purpose of granting scholarships to eligible students for private school tuition costs. STOs award scholarships under four different programs. A student may combine scholarships from the four different programs. New Way has developed relationships with various STOs offering each of these types of scholarships. The descriptions below are a summary of these programs. More detailed information is available here.
The Original and Switcher/Overflow Tax Credit Scholarships are funded by donations from individual taxpayers. Any full time student attending a qualified school is eligible for a scholarship under the Original program, while only students entering kindergarten or transferring from an Arizona public school are initially eligible for a Switcher/Overflow scholarship. The amount of these scholarships is not limited by the State, up to full tuition.
The Disabled/Displaced Scholarship is funded by donations from corporations. In order to be eligible for a disabled/displaced scholarship, the student must have been identified as having a disability in an IPP, MET report, or 504 plan from an Arizona public school and must have been in Arizona’s foster care system. Similarly to an ESA, the maximum amount a student may receive in disabled/displaced scholarships is dependent on the student’s disability.
Lastly, the Low Income Corporate Scholarship is also funded by donations from corporations. A student may be eligible for a Low Income Corporate scholarship if family income is less than 342.25% of the poverty level (e.g., $84,194 for a household of 4 in 2017-18) and the student is transferring from an Arizona public school. The maximum amount of a Low Income Corporate scholarship per STO in 2017-18 is $5,300 for a K-8 student and $6,600 for a high school student. A student may receive a low-income scholarship from more than one STO.
Bob Reynolds Memorial Scholarship
The Bob Reynolds Memorial Scholarship was established in the Fall of 2011. In memory of Bob Reynolds, father of New Way alumni Emily Reynolds, this scholarship is awarded annually to high school students attending New Way Academy. Students who are awarded this scholarship are academically-driven leaders in their community and model students at New Way Academy. Each year, Emily and her mother, Karla, announce the recipients of the Reynolds Scholarship at the End of Year Awards Assembly in May.
Additional details are available by contacting Director of Finance, Steve Neidhart email@example.com
This is not the same little girl who started at New Way two years before.
-New Way Dad