232 kb)The Financial Assistance Program at QND includes direct grants and scholarships. Click here for a copy of our brochure. To ensure impartiality and sensitivity to privacy, the schools employ the Private School Aid Service (PSAS) to compile applications for assistance and to recommend amounts to be awarded based on demonstrated need. If you have any questions about this program, please contact Kristi Smith, QND business manager, at 217-223-2479. For more information about PSAS services, visit www.psas.org.
Other ways to finance:
Coverdell Education Savings Account is tax exempt when used for qualified education expenses including primary school and college. There is a maximum of $2000 annual contribution limit. If the money is not used for parochial school, it can be used to help fund college. Money can be contributed to the account throughout the year, so birthday, holiday and sacramental gifts can help build a fund for your child’s education. Many parents begin this process at Baptism. Friends and family members may also contribute to the fund at any time.
The Honor Scholarship is a Quincy Notre Dame scholarship awarded to the freshman with the highest placement test score.
Education loans are available for Quincy Catholic Elementary Schools and Quincy Notre Dame High School. Local banks are designated each year to provide families with 10 monthly payments for tuition at a competitive interest rate.
Home Equity Line of Credit is another option for assistance with tuition expense. A home equity line of credit is a form of revolving credit for which your home serves as collateral. The credit line is secured by the equity in your home and may be tax deductible (consult your tax advisor). Talk to your banker about this option for you.
Make saving a part of your child’s education at an early age. If your child helps out around the house for an allowance or assists neighbors with yard work, think about asking them to put a portion into a savings account for their education. Many older students work part-time to help pay for tuition. Every amount invested compounds over time. Your child will experience a personal investment and value their education more because they were directly involved with its financing.
Many planning tools and initiatives are available today to make Catholic education affordable. The most important principle is setting goals in a way that lets time work in your favor. With time and commitment, the financial goal of sending your child through Catholic schools can be met. We encourage you to talk to us to explore the best financial solutions that match your family’s needs.