Making a Cape Fear Academy Education Affordable
Cape Fear Academy strives to make it possible for all interested and qualified applicant families to afford to attend. There are two avenues by which tuition reduction may be sought. Students who wish to be considered based solely on their merit as applicants, unrelated to family income, may apply through the Cape Fear Academy Scholars Program. Those who wish to be considered for assistance based on family income may consider the need-based financial aid program.
The Cape Fear Academy Scholars Program
Providing the opportunity for an outstanding CFA education through tuition reduction to students in our community who demonstrate academic achievement, talent, leadership, and exemplary character. Multiple gifts, renewable through graduation will be awarded, ranging from $1000 to full tuition.
Based on Financial Need
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.
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 paper application or through the FACTS 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.
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.
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.
Priority for awards are as follows.
- Current recipients
- Current students
- New students
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.
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.