Financial Aid

Financial aid is available for children enrolled in grades PS–12. Every family who receives financial aid is expected to fulfill a four-hour School service commitment each month of the academic year.

This year, financial aid applications will be processed by Financial Aid Independent Review, Inc.  (FAIR) and reviewed by the Financial Aid committee of the School. Financial aid is allocated based on completed applications received at FAIR by April 15, 2004. Financial aid forms cannot be processed if incomplete.

To Apply for Financial Aid
Complete the enclosed Financial Aid Application Form and mail along with your 2002 IRS Form 1040, 1040A, or 1040EZ and the processing fee to FAIR, PO Box 484, Rosemount, MN 55068.

A copy of your 2003 federal income tax return must accompany this application before it can be considered.

All financial aid applications must be submitted by the parent who claims the child as a dependent.

Installment loan plans are available from Central Valley Bank, First National Bank, or Iowa State Bank in Fairfield. Loans are available for the yearly tuition amount, with three payment options:

Date of Loan Application Number of Payments
  May 12–20 12
  May 21–July 7 10 or 11
  July 8–August 11 9 or 10
  Special Option of Including Registration Deposit in Bank Loan: Parents will be able to include the 2003–04 registration deposit in their bank loan if the loan is processed by May 15, 2003. Please call the Student Accounts Office at (641) 472–9400, # 5076 for more details.

The local banks are offering Maharishi School tuition loans at beneficial rates of interest to qualifying borrowers who submit a loan application by the due dates indicated above. Parents applying for loans are encouraged to be careful to make loan payments in accordance with the terms stated in the bank loan agreement.

To Apply for a Bank Loan
Bring your 2003–04 tuition invoice to the student loan officer at the bank. If the loan is approved, the bank will pay the tuition directly to the School.

Educational Loan
An alternative payment plan is available through Key Education Resources. Their Achiever Loan offers an eight-year repayment period, low interest rate, no origination or guarantee fees, and the option to use this loan in the future for college expenses. Brochures with details on this program are available from the Student Accounts Office at 472-9400, #5076.

 

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