Incoming Freshmen 2017-2018 Financial Aid Information and Important Dates
What is Mother McAuley's philosophy regarding financial aid?
Mother McAuley is committed to keeping the cost of a Catholic secondary education affordable for all families. As such we strive to provide financial aid to families that show a demonstrated need. Mother McAuley families received over $1.5 million in financial aid in the 2017-2018 school year.
What is "demonstrated need?"
A "demonstrated need" is defined as the difference between the total amount a family can be expected to contribute based on their financial situation, and the cost of tuition. All families attending Mother McAuley are expected to contribute something toward their child’s education. Mother McAuley uses FAST (Financial Aid for School Tuition) as a tool to determine need.
Does Mother McAuley offer scholarships?
In order to be considered for a scholarship, students must take the Entrance Exam at Mother McAuley on December 2, 2017. Following is a list of scholarship opportunities:
What percent of Mother McAuley's students receive financial aid?
61% of students at Mother McAuley receive some kind of financial aid/scholarship.
Should we apply?
Yes! 80% of applicants qualified for a tuition assistance award in the 2017-2018 school year. Also, having filled out the FAST application qualifies you for other scholarship opportunities throughout the school year.
What was the average amount of financial aid awarded last year?
Mother McAuley’s financial aid awards ranged from $500 - $2,900. The average financial aid award was $1,140.
What other factors might determine my financial aid award?
Factors that might influence the amount of financial aid awarded include household income, assets, household size, and the number of dependents in tuition charging schools. The FAST application also allows families to submit information about any extenuating family circumstances that should be considered in evaluating their application.
What effect does a financial aid application have on my child’s admission application?
None. Your child will be accepted based on the results of the Entrance Exam and their elementary school transcripts.
When will I receive a decision regarding my financial aid award?
Your financial aid package will be made available after your child takes the Entrance Exam at Mother McAuley and is formally accepted, but prior to the registration process. You must complete the FAST application prior to December 15 for this notification. Financial aid award letters will be mailed on February 15.
How do I apply for financial aid?
To apply for financial aid, complete the FAST online application by clicking below.
After completing the online application, you will be required to scan or mail supporting tax information directly to FAST.
Do I have to re-apply for financial aid each year?
Yes, you must apply each year due to the fact that your financial circumstances may change from year to year.
Who has access to my financial information?
All financial information is highly confidential and only released to the financial aid committee.
Timeline for Admissions, Financial Aid and Scholarships
October 16 - FAST application opens
November 18 - Entrance Exam Pre-registration begins
December 2 - Entrance Exam Test Date and scholarship applications active
December 15 - FAST application deadline for priority consideration
February 1 - Admissions decisions mailed
February 15 - Financial Aid award notification letters mailed
March 1 - Class of 2022 registration and scholarship applications due
March 28 - Scholarship award letters mailed
Please note that the deadlines for submitting completed Financial Aid applications are very important. Applications submitted after the deadline may not be able to be processed since budgeted funds may no longer be available.
Tax Credit Scholarships
In August 2017, with bipartisan support, the House and Senate passed a comprehensive education funding bill that was signed into law by the governor. The law includes a provision for tax credit scholarships, which provide strong incentives for donors to support non-public school scholarships for low-income students in the state. Illinois students from low-income families may use these new scholarships to attend a non-public school of their choice.
This legislation represents a major step forward that will help create more equity in school funding throughout Illinois, and for the first time provide real school choice for students and their families.