Applying for Financial Aid
Durham Academy provides financial aid on the basis of demonstrated family financial need. We use an independent third party, Tuition Aid Data Services (TADS), to help determine the ability of the applicant’s family to pay tuition. Financial aid need is calculated by TADS without regard to race, gender, ability, ethnicity or religion. The results of the TADS formula are considered by the Financial Aid Committee, which then determines whether aid is to be granted and how much aid to grant. Durham Academy is not always able to meet the demonstrated need of all families who apply.
Applying for Financial Aid
Please follow the steps below in applying for financial aid. All forms must be completed by Dec. 10, 2021.
Complete the Financial Aid Application through Tuition Aid Data Services (TADS) using these three steps below:
- Complete Financial Aid application form at www.mytads.com. Online applications are available in Spanish.
- Use a credit card to pay the $45 processing fee.
- Send supplemental forms to TADS to complete the financial aid application:
- Most recent W2’s for all jobs
- Most recent paycheck stubs for all jobs
- Most recent federal tax form
- Any corporate, partnership and tax forms (only applicable if any member of the household owns 20% or more in a corporation, partnership or trust)
- Documentation for all other sources of income (public assistance, unemployment benefits, child support, workers' compensation, etc.)
Parents or guardians can contact TADS via:
110 N. 5th Street, Second Floor Minneapolis, MN 55403
Parent/Guardian Help Line:
(TADS has Spanish-speaking support available during normal business hours.)
Durham Academy is committed to making a DA education affordable to students of all backgrounds regardless of their financial means. The purpose of Durham Academy’s financial aid program is two-fold: to assist families whose only barrier to an independent school education is the cost of tuition and to enhance the student body through socioeconomic, cultural and geographic diversity.
Financial Aid Policy
Durham Academy offers financial aid to families from a wide range of income levels. All aid is need-based, which means admitted students demonstrating financial need will receive aid based on the school’s annual budget. DA’s Financial Aid Policy is guided largely by the school’s commitment to diversity, which we believe “enlivens, improves and enriches the intellectual and social environment of an academic community.” We believe that every family, regardless of economic standing, should demonstrate a commitment to their child’s education at DA by making a significant contribution toward tuition. Some level of financial participation is required on the part of every family. There is no expectation of repayment.
Families requesting financial aid must re-apply each year through an independent third-party processor, Tuition Aid Data Services (TADS). Durham Academy’s Financial Aid Committee reviews the information submitted and calculates the demonstrated need, following the guidelines of the National Association of Independent Schools. Every tuition grant is made for one year and must be renewed subject to (1) the filing of an annual TADS Financial Aid Application, (2) adherence to school policies and (3) continued financial need. Normally, if the above conditions are met, a family should expect that financial aid will continue throughout the student’s enrollment.
DA is proud to annually commit to a generous financial aid budget of more than $2 million. However, requests for financial aid exceed the funds available each year. The following categories will be considered in allocating awards:
- Returning financial aid recipients qualifying for a comparable award
- Returning students new to financial aid
- New students, with preference given by grade applying from oldest to youngest
- Current and new families who apply after the deadline
In addition to each of these categories, the following factors will also be considered:
- Grade-level enrollment goals
- Relative merit of the individual student
- Socioeconomic, racial, religious and cultural diversity
- Size of the award and projected long-term need
- Adherence to school policies (payment history, past due balances, on-time financial aid application)
Durham Academy also endorses and follows the National Association of Independent Schools (NAIS) Principles of Good Practice for financial aid, which supports high standards and ethical behavior to reinforce equity, fairness, transparency and support, including:
- DA shall use a uniform methodology to assess annually, in a consistent and equitable manner, each family’s ability to pay for education.
- DA shall require adequate documentation of family resources when determining need.
- DA shall not use financial need as a consideration in determining a student’s eligibility for admission.
- DA shall keep in confidence all financial information supplied by a family.
- DA shall recognize that the primary responsibility for financing a student’s independent school education rests with his or her family.