With everyone’s budget tight, sending your child(ren) to a private school can seem impossible. Over the years, financial aid resources have been developed and are growing.
“When I meet with prospective families, their first concern is tuition costs. I walk them through the application process, and most families are surprised by how our financial aid programs can make tuition affordable,” said Development Director Karen Witt.
Financial aid comes from three basic sources:
n Prince of Peace School Foundation: This Foundation was established to provide long-term financial support for Prince of Peace School. Within the Foundation are 25 named scholarships that are given annually to Prince of Peace students. Each scholarship was developed with specific criteria. Most scholarships have the criteria of financial need.
n School Tuition Organization (STO) of Southeast Iowa: This tuition assistance program is tied to Iowa Tax Credits. An Iowa taxpayer can contribute to an STO and receive a tax credit equal to 65 percent of their donation. These donations are then used as tuition assistance. This program was designed to support families who otherwise wouldn’t be able to choose a private school for their children.
n Prince of Peace Parish: As a parish school, all students receive financial benefits from a parish subsidy. Prince of Peace Parish families receive a discounted tuition. As parish members, these families support our parish.
Well over 50 percent of our families receive some kind of financial aid. Many families receive aid from several sources.
“Sending your child to a tuition-based school, such as Prince of Peace, is a financial sacrifice for all families. Our families have made a Catholic education a priority in their life and their personal budgets. We do what we can to support that decision,” Witt said.