Yes. Newark Academy maintains a considerable need-based financial aid program to ensure that the most qualified students have the opportunity to attend NA regardless of their families’ financial circumstances.
Newark Academy offers need based financial aid. To be eligible for financial aid, parents must complete a financial aid application and provide financial documentation. NA uses the information provided to determine a family’s financial need which is defined as the difference between the cost of tuition and fees and the family’s ability to pay.
A registration deposit of $2,500 is due at the time of signing the Enrollment Agreement. The registration deposit will be applied to the student’s account balance for the coming school year, but will not be refunded if he or she does not attend Newark Academy. Students receiving financial aid will see the amount of their aid subtracted from the total cost of tuition and fees.
Families may choose one of three payment plans:
Two payment option: 70% of tuition (less the deposit) and 50% of fees on July 1 and 30% of tuition and 50% of fees on December
A ten-month payment plan*
*If families elect the ten-month payment plan they must purchase Tuition Insurance as well.
Financial aid is awarded annually and families seeking financial aid must apply each year through School and Student Services (SSS). Misrepresentation or failure to disclose completely all information will result in the loss of financial aid.
Returning families receiving financial aid will be given first priority when allocating awards for next school year. Adherence to deadlines is essential because funds are limited and they will be allocated to other families if documents are not submitted by the stated deadlines.
Families must fill out a financial aid application with SSS, known also as the Parents’ Financial Statement (PFS), and submit official copies of their 1040 federal income tax forms, including all schedules and W-2s.
Unless a parent is deceased, Newark Academy expects both biological parents to contribute to a student’s tuition expenses. Therefore, financial information is required from both biological parents. Financial aid may not be granted if data from only one parent is provided. If one parent is not in contact with the student and has no role in the student’s life, Newark Academy will request the custodial parent provide a letter from a social worker, clergy member, school official or attorney documenting this fact before awarding financial aid based on information from the custodial parent alone.
The income and assets of step-parents will be taken into consideration when determining a student’s financial aid grant. Newark Academy will also take into consideration the step-parent’s financial obligation to his or her own biological children. We reserve the right to decline aid packages to families who do not provide income and asset information of stepparents.
Newark Academy will impute wages of $20,000 annually for any non-working parent who does not have a child five years old or younger at home. Consideration is taken in the case of extenuating circumstances, for example, if the non-working spouse is responsible for a special needs child and/or elderly parent(s).
Yes. All recipients of and applicants for financial aid must complete an application for financial aid through SSS annually. Completed applications are reviewed by Newark Academy and aid is granted in the spring of each year for the coming school year.
Newark Academy’s budget for financial aid is limited. Priority is given to returning students and then to new applicants who complete the process on time. Any applicant who does not complete the process by the stated deadlines may lose the right to appeal their financial aid award.
Tuition and fees do not include books (annual costs are approximately $500), field trips, transportation, Immersion experiences, some athletic and/or arts equipment, or preseason trips. We do maintain a limited discretionary budget to assist families with these costs if they represent a financial hardship.
Team uniforms and basic equipment (i.e. balls) are supplied to members of teams. Student-athletes must provide their own athletic equipment, such as baseball gloves, proper athletic footwear, etc. Student-athletes have the option to purchase team-specific, non-uniform apparel from NA’s team web stores.
Newark Academy welcomes students from more than 90 towns in Bergen, Essex, Morris, Hudson, Hunterdon, Passaic, Somerset, Sussex, and Union counties of New Jersey. Transportation is provided without cost for Newark Academy students living in Newark, Irvington, Orange, East Orange, Hillside, and Union which is subject to change based on student population. Transportation to many other towns is available through a contracted provider, Belair Bus Company and individual transportation contracts can range from $3,500-$5,600. Parents who choose to send their child to Newark Academy may be eligible to receive a partial reimbursement for school transportation from their town/city government (visit here to learn more).