LCA works with FACTS Grant & Aid to offer limited needs based financial assistance. FACTS Grant & Aid Assessment uses key personal and financial information to evaluate your financial need. By completing an application, you will provide the necessary information to help LCA make an informed decision about awarding assistance. Families requesting aid will do so annually by completing one application per family.
To be considered for financial assistance, the following criteria must be met:
Demonstration of need for financial assistance.
All existing LCA families should be current on their account.
Families will seek to positively contribute to LCA such as taking advantage of volunteer opportunities, donating resources or skills, and students will seek to contribute to a positive peer culture academically, spiritually, and socially.
Families with students in PreK or K only are generally not considered for financial assistance.
HOW TO APPLY FOR NEEDS BASED FINANCIAL ASSISTANCE:
There is a one-time non-refundable application fee of $35 per family assessed by FACTS. This fee covers processing of the application, verification of the tax documents submitted, and assessment of financial need.
Complete the FACTS Financial Assistance application HERE. New users will need to create an account.
After completing the online application providing income, expenses, and asset information, you will submit your application along with the $35 fee. Upon submission, you will be asked to upload all required supporting documentation. An “incomplete” status will appear until all documents have been submitted. *If you are applying before your 2019 tax return has been filed, please submit your 2018 tax information. When your 2019 taxes have been completed, you will need to upload that information. Only estimated awards can be determined with the 2018 tax information.
Supporting documentation includes:
—IRS Federal Income Tax Return, including all supporting schedules. If applicant and co-applicant file separately, both tax returns for the same year must be submitted.
—All current year W-2 wage and tax statements for both the applicant and co-applicant. Note: if you are applying before you have received all the current year W-2 Wage and tax statements, please submit them as soon as they become available.
—Copies of supporting tax schedules (specifics are listed in the application)
—Copies of supporting documentation for household non-taxable income such as social security income, welfare, child support, food stamps, workers’ compensation, and Temporary Assistance for Needy Families (TANF). If you do not file a tax return, you are required to provide documentation of all income received.
IMPORTANT: If you file a tax return but do not have W-2 wages because you are self-employed, you will be required to submit a copy of your current year Federal Form 1040 Tax Return.
Needs based financial assistance requests should be submitted by April 1, 2020 and prior to the family interview being scheduled. Incomplete applications will not be considered. Applications received after this date will be considered in the order they are received.
Families will be notified via email regarding award information.
FREQUENTLY ASKED QUESTIONS
Who is FACTS Grant & Aid Assessment?
FACTS Grant & Aid Assessment is an independent, third party company that conducts financial analysis to determine your family's financial need. LCA receives a confidential report outlining your financial situation based on the information obtained in your application and supporting tax documents. They do not supply the funding for aid, but rather offers an income based financial analysis to determine your family’s financial need.
What is the deadline to apply for financial aid?
Needs based financial assistance requests should be submitted by April 1, 2020 and prior to the family interview being scheduled. Incomplete applications will not be considered. Applications received after this date will be processed in the order they are received.
Why do I have to provide all of this personal and confidential information?
In order to provide your educational institution with an accurate assessment, FACTS Grant & Aid Assessment must verify your expenses and household income. By providing all of your information, FACTS Grant & Aid can assist LCA in making an informed decision about the amount of financial assistance needed for each family.
What happens if I do not provide all of this information?
Failure to provide all of the necessary information needed to complete the application process may result in your family not receiving financial aid or limit the amount given by LCA.
If I do not have all of the necessary information to complete the application online, will I have to start over?
No. As you complete the online application, there will be a "Save & Continue" button at the end of each section. If you are unable to complete the entire application, you can select the "Save & Exit" button and continue your application at a later time.
What if I need to make changes to my application?
If you have submitted your application, you may log on to the FACTS Grant & Aid website with your username and password to access your application and make corrections or changes. LCA will be notified of changes to your application from the original submission.
How can I check the status of my application?
Once you have completed the online application, you will be able to log on to the FACTS Grant & Aid Assessment website with a username and password to check the status of your application. The username and password will be created by you the first time that you log on. If you have misplaced your username and password, you will need to contact a FACTS Grant & Aid Assessment team member at 866-315-9262 or email FACTS at firstname.lastname@example.org.
Will FACTS Grant & Aid Assessment send me a copy of my assessment?
No. The assessment of your application will be sent only to the educational institution or organization providing the award. Information sent to FACTS Grant & Aid Assessment to complete your assessment, such as your 1040 tax form or W-2, will not be returned to you.
What happens to the tax forms and W-2 information that is submitted to FACTS Grant & Aid Assessment?
All documentation received from an applicant is imaged upon receipt and then destroyed for security purposes.
Who makes the final award decision?
Award decisions are made by LCA, not FACTS Grant & Aid. FACTS simply assists with the collection of financial data so schools can make accurate award decisions based on financial need.