Cape Fear Academy strives to make it possible for all interested and qualified applicant families to afford to attend. While each family assumes primary responsibility for the cost of their children’s education, financial aid support and payment plan options may be available for those who need additional assistance financing tuition. Below you will find various payment options or combinations of available options in order to make the CFA education affordable.


Option 1
Payment Plans:
The One Pay Plan: requires a deposit of $500, with the balance payable by June 15, 2016. This plan is available for current students until June 15, 2016, and for new students who enroll after that date. Tuition Refund Insurance (TRP) is optional under this plan. It is available at additional cost and is recommended.

The Two Pay Plan: requires a deposit of $500 and two payments. The 1 st payment is due by June 15, 2016. The final payment is due November 17, 2016. TRP is required under this plan.

The Monthly Plan: requires a $500 deposit, with the balance paid monthly by bank draft. The monthly payments can be made in 12 payments from April 2016 to March 2017. Tuition and fees must be paid in full by March 31, 2017, regardless of when the monthly payments begin. TRP is required under this plan.

Option 2:
Need-based financial aid is awarded to families with students in grades K-12 who qualify, with the Middle and Upper School students receiving the highest priority.

TRP INFORMATION

TRP for 2016-2017 is at 1.3% of Tuition and Assessment.

As expected, a Cape Fear Academy education requires a significant investment. For the 2016/2017 school year, CFA tuition is:

LE (Half day) $8,740
LE (Full day) $9,960
K $10,975
1st $13,975
2nd-5th $15,525
6-8 $16,775
9-12 $16,975

Included in the Tuition: Required class trips, special materials, and debt service fees to cover the cost of debt incurred for facility expansion.

Not Included in the Tuition: Optional activities, materials, general student supplies, textbooks (Grades 6-12), lunch, and the cost for voluntary activities, trips, and/or purchases.

Late Fees A 1.5% per month late fee charge will be assessed on any past due accounts. Any cost of collection shall be paid for by the parents or guardian.

Capital Assessment Fee (Not included in tuition above)
The Assessment Fee is designated for facilities maintenance and the purchase of equipment. The maximum assessment per family is $5,000. Upon enrollment in grades 1-12, each child is assessed $2,500 to be paid over a three-year period. Students enrolling in LE and K will be assessed $2,500 to be paid over a four year period.

TUITION REFUND PLAN INFORMATION

 

 

Need-based financial aid is awarded to families with students in grades K-12 who qualify, with the Middle and Upper School students receiving the highest priority.

Process – New applicants to the school must go through the admissions process and be accepted before the family may be considered for financial aid. Requests for financial aid applications are made directly to the Admissions Office via this online application.  FACTS is a national company which provides schools with information and guidelines for making financial aid awards fairly and equitably on the basis of need.

Qualifications – The financial data submitted by applicants is processed according to the guidelines established by the school and by FACTS. They provide a report to Cape Fear Academy which is reviewed by our Financial Aid Committee. The committee is made up of school administrators and makes the final decisions on the amount of aid given to those who qualify.

Criteria for granting need-based aid:

Need – The first requirement is the demonstration of financial need as determined by the Financial Aid Committee, based on the analysis of the FACTS report.

Academics – The student must have a quality grade point average of at least 2.5. For new student applicants, the Director of Admission must indicate that the candidate has potential for success as supported by the transcript of previous grades and data from admission testing.

Other – The committee also considers family participation and interest and the student’s citizenship and participation in school activities.

Priority for awards are as follows.

  • Current recipients
  • Current students
  • New students

All financial data is held in strict confidence. Financial Aid Committee members at Cape Fear Academy receive a summary of financial need as calculated according to FACTS guidelines, but the names of applicants and recipients are not shared. Recipients and their families are expected to maintain confidentiality. Financial aid awards are made for one year only. Renewal of the annual awards requires reapplication. All awards are subject to the availability of funds. The deadline for financial aid applications for first round consideration is February 15. Awards are offered in late March. Any remaining funds may be awarded later.

Opportunity Scholarship – Families applying for Financial Aid must also explore the Opportunity Scholarship. CLICK HERE to learn about the program, and if it appears that your family meets the criteria, you are expected to apply. Please notify CFA Admissions department if your family is awarded.

The Opportunity Scholarship Program expands school choice in North Carolina through scholarship grants for eligible children in kindergarten through 12th grade. This program provides funding of up to $4,200 per year for eligible children who choose to attend a participating nonpublic school.

The application for next year (2016-17) for new students will be available at 9:00 a.m. on February 1. All eligible applicants who apply before March 1, 2016 will be entered into a lottery. 2016-17 recipients will be randomly selected from that pool of applications.

For full details read the Opportunity Scholarship Program Overview and the Frequently Asked Questions.