Financial Aid and Scholarships

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Scholarships

General Scholarships:  R-MA offers General Family Assistance to students based on their family's needs. Need is determined by annual income, W-2 forms, and tax returns. The average award is $4,000-$7,000 for boarding students and $1,800-$4,000 for day students. This aid is awarded on a first-come first-served basis, with returning students having priority. Scholarships are not available for the summer session.

United Methodist Scholarships:  Through R-MA's affiliation with the United Methodist Church (UMC), we offer scholarships to families who are members of the UMC. A letter from the pastor of the family's church must verify membership. The average scholarship is 10% of tuition (20% for children of United Methodist ministers). This scholarship is not available for the summer session.

Merit Scholarships:  R-MA awards a small number of merit-based scholarships without regard to financial need. These scholarships are intended to recognize outstanding accomplishments and exceptional potential for contributions to R-MA while enrolled and to society in the future.

Multiple Family Member Discount: R-MA gives a 10% tuition discount to families with two or more students attending R-MA. The first student pays full price. Each additional student receives a 10% discount on tuition.

 

A private school education is an investment in your child's future.

Affording an R-MA Education

Financing an independent school education is a major investment in a child’s future.  We appreciate that you value our small classes, excellent faculty, personalized attention and leadership training; and we are committed to making Randolph-Macon Academy affordable to the family of each student we admit. Randolph-Macon Academy’s financial aid policy supports the school’s mission and objectives by providing monetary assistance to those students who may not be able to attend R-MA without such assistance

Because the actual cost of educating each student is greater than the charge of our tuition and fees, each Randolph-Macon Academy student, in effect, receives some financial assistance – the difference between the tuition and fees and the actual cost to R-MA of education a student.

Randolph-Macon Academy financial aid to qualified students is provided through financial support from endowment funds, foundations, generous donors, and the United Methodist Church. R-MA distributes financial aid funds based upon demonstrated financial need and uses a uniform methodology to assess annually, in a consistent and equitable manner, each family’s ability to pay for education. R-MA does not discriminate in the administration of its financial aid policies.

Financial need is not a consideration in determining a student’s eligibility for admission. Once a student is enrolled, R-MA will continue to provide financial aid in subsequent years provided parents continue to demonstrate financial need.

Once a student is accepted to R-MA the family can apply for financial assistance online. Along with completing the Parent’s Financial Statement (PFS) you will be asked to upload your 2015 1040 tax return along with all schedules and attachments, as well as your 2015 W-2 forms, and recent pay stubs for all in your household.

Please review our complete financial aid policies.

Helpful Information

·Review these tips and videos courtesy of School and Student Services by NAIS for Help With Successfully Completing the PFS Online and Help With Uploading Documents in the PFS Online.

·Understanding Private School Financial Aid: What it is and How to Apply by Brian Fisher, AdmissionsQuest

Please note that financial aid is available on a limited basis, so please apply early.

Additional Resources: R-MA works with several financial organizations that help parents fund their students' education. Parents are encouraged to contact these companies that offer alternative financing options, such as longer repayment terms and loans that cover the entire cost of an R-MA education.

Loan Companies
Sallie Mae Financial Corporation 
Your Tuition Solution

Financial Aid is not available to International Students or for the Summer Programs.