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2011-2012 Financial Information

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Financial Contract Process

Upon receiving your acceptance letter, please contact the Business Office to prepare your financial contract. Every student must complete a financial contract which outlines your payment plan and is signed by the Parent/Legal Guardian/Financial sponsor(s) and Forest Lake Academy.

If financial assistance is needed to help offset the cost of tuition, a FACTS Aid and Grant Assessment Application must be completed at www.factstuitionaid.com along with a $25 processing fee. The FACTS organization does not award scholarships or grants.

FLA's Student Aid Committee will meet periodically to determine the financial assistance package for families. No financial assistance is awarded until the FACTS application is successfully processed. FLA has limited scholarship resources; completion of the application does not guarantee financial assistance.

In addition to the financial commitment of the parent/legal guardian/ financial sponsor, the assistance package could include one or more of the following items:

• Student Employment estimated earnings
• Florida Grant Scholarship
• 2-Way Matching Program (boarding students only)
• Step up for Students Scholarship
• Share the Dream Scholarship

Tuition Assistance Programs

Forest Lake Academy's Financial Assistance Program includes:

1. Programs funded by the Academy through the generosity of the Florida Conference of SDA, local churches, alumni, and friends of Forest Lake Academy:
   1. Student Employment through the FLA Student Employment Department
   2. Florida Grant (applies only to Florida Conference members)
   3. Share the Dream Scholarship
   4. 2-Way Matching Scholarship (applies only to Florida Conference members)
2. Programs funded by other organizations:
   1. Step up for Students Scholarship
   2. Florida Conference Association of SDA Endowment Scholarship

Please note: These scholarships are not affiliated with the Academy, and FLA holds no responsibility in determining final eligibility or maintaining or setting the policies of these programs. It is the responsibility of the parent/financial sponsor to ensure that all eligibility criteria are met and maintained throughout the scholarship period.

Descriptions of Tuition Assistance Programs

1. Student Employment through FLA
   
   FLA has limited dollars available to assist students with tuition expenses through student employment opportunities. Therefore, FLA will prioritize applications for positions available through the Student Employment Department based upon financial need. Since FLA funds the on-campus jobs, a family's financial need must be established through the FACTS Grant and Aid Assessment for the student to have priority consideration for FLA employment. In addition to financial need, job placement is based on the critical needs of the school or outside employers and a student's specialized skills.

   FLA operates two separate student employment programs: during the summer from June 1 to August 13 and during the school year from August 14 to May 31. Students must be accepted for the upcoming school year prior to job placement in either program. Students who reserve financial aid and decline a job assignment will lose their financial aid.

2. Florida Grant Program
   
   The Florida Conference of SDA established this grant program to assist members of the Florida Conference with tuition costs for students attending FLA. This program is administered by the Scholarship and Grant Committee and is based on the following items:

   • consideration of the FACTS Grant and Aid Assessment information
   • consideration of the student's previous school year's academic, attendance, citizenship and his/her work program
   To receive this scholarship:
   • The student must agree to work via the student employment program as outlined by the terms of the grant.
   • The student maintain satisfactory academic, attendance, and citizenship grades - a minimum of a C average for academics and nothing lower than a C in attendance and/or citizenship.
   • The parent(s) shall pay their financial obligation as determined on the financial contract.

3. Share the Dream Scholarship
   
   Forest Lake Academy receives funds from alumni, friends of FLA and businesses to assist students with tuition based upon financial need and other relevant factors. FLA determines eligibility for these funds.

4. 2-Way Matching Scholarship - applies only to Florida Conference of SDA members
   
   A residence hall student is eligible for the 2-Way Matching Scholarship if membership is held in a Florida Conference SDA church that participates in this program. The annual scholarship amounts are: Freshman/Sophomore: $900.00; Junior/Senior: $450.00. Information about the program and the application can be requested from the business office. The scholarship is distributed only after the funds have been received from the church.

5. Step up For Students Scholarship (Formerly Children First)
   
   This scholarship is for students who attended a Florida public school the previous school year and whose family income meets the established guidelines. For information, call 1-877-735-7837, or visit their website: http://www.stepupforstudents.org/.

Student Account Information Tuition Management through FACTS

Forest Lake Academy uses the FACTS Business Solutions for Education Company for a Tuition Management Program. There are two methods to manage your tuition payments at FLA and all students must pay by one of these two methods.

1. Prepay the tuition charges by year (with a 3% discount) or semester (with a 1½ % discount) at the beginning of the enrollment period. There is a 5% discount for a family.
2. Enroll in the Tuition Management program and pay monthly through an automatic payment plan. You will realize these benefits if you choose this option:
   • You won't need to mail a check each month or be concerned about your payment arriving via mail or student drop-off, thus giving you convenience and security.
   • You may choose the 5th or 20th of each month for your payment to be processed.
   • You may check your account on-line from the convenience of your home or office.

   • You may enroll in the Peace of Mind Benefit Plan. With this benefit your student's tuition for the current school year is paid in full (except payment in arrears) in the event of death of the responsible party or spouse. This benefit costs $12 per student per year. If you will be paying monthly, you will be given the FACTS Automatic Tuition Payment Agreement with your financial contract. Your financial contract will not be approved until a completed, signed FACTS Automatic Tuition Payment Agreement has been received.

FACTS Statement on the Privacy of Information - From the FACTS Management Company website, www.factsmgt.com FACTS Management Company (FACTS) acts as agent for institutions in administering their payment plans. In the course of providing payment plan services for these institutions, FACTS receives personal and financial information from their customers. It is the policy of FACTS and its subsidiaries to protect all information provided to us by all participants in the FACTS payment plans. From time to time FACTS may share this information with Responsible Parties on a FACTS account and with the institution for which it is acting as an agent. FACTS does not sell or share any nonpublic personal information or client lists to any third party, except as agreed to by you, or as may be necessary to complete a transaction in the ordinary course of business, or as required under an applicable law. To protect the information from access by unauthorized parties, FACTS maintains physical, procedural, and electronic safeguards.

Approval Deadlines

• Forest Lake Academy will approve financial contracts beginning April 1, 2011.
• Decisions on aid and student employment eligibility will be processed at periodic meetings as applications are received.
• Financial aid awards and work assignments are contingent upon completion of an approved financial contract and receipt of the activity fee and first month’s tuition payment by July 29, 2011.
• Financial aid and work assignments are subject to reassignment to students on the waiting list if the necessary approvals and payments are NOT received by July 29, 2011.