Payment Plans

Two-Payment Plan for 2010-11 Academic Year

For those on the two-payment plan, add a 5% late fee to the 1st payment if the Finance Office does not receive it by August 1st, 2010 and add a 5% late fee to the 2nd payment if the Finance Office does not receive it by December 1, 2010.

Monthly Payment Plan

Parents who are experiencing cash flow difficulties or who have other needs, but whose financial position demonstrates the ability to repay all required fees over a 12-month period, may apply for the monthly payment plan.  A financial aid application giving full disclosure of financial status along with a copy of the 2009 W-2, the 2009 Federal Income Tax Return (including all schedules) and current pay stub, must be submitted to the Finance Office.  If the application is approved, the parent must sign a student enrollment contract and a promissory note.  A credit check is required.

The monthly payment plan is designed to begin June 1.  Parents who apply after June 1, and who are approved, must make a down payment equivalent to four monthly payments, and payment for the mandatory fees must be made by August 1, 2009.  The interest rate for 2010-2011 is 8.5% per annum (on the declining balance).  Payments are due on the 1st of each month beginning June 1, 2010 and ending May 1, 2011.  Payment can be either by cash, check or credit card.  You may leave a credit card on file in the Finance Office.  In either case we will bill your account automatically each month.  We accept MC/VISA, Discover and American Express. Please contact the finance office upon acceptance to apply for the montly payment plan and/or receive further information on the payment amount due each month.

Methods of Payment

Preauthorized Debit: You may make your payments automatically from either your checking or savings account.  Since payments are automatic, you don’t have to remember to write or mail checks, and payments are never late or missed.  You will receive an itemized bill each month from R-MA.

Credit Card: R-MA accepts Visa, MasterCard, Discover, and American Express. You may leave your credit card information on file with the Finance Office, and your payments will be charged to your credit card automatically.  As with the preauthorized debit, you will receive an itemized bill each month from R-MA. 

Personal Check: Parents may also pay by personal check.  You will receive an itemized bill each month from R-MA. 

Financial Aid

R-MA provides financial aid to qualified students and families through financial support from a student loan program, endowment funds, foundations, alumni, the United Methodist Church, and other friends of the Academy. A limited number of scholarships for work assignments are also available.

Only applicants and accepted students can apply for financial aid.

After you apply, please contact the admissions office at admissions@rma.edu or 1-800-272-1172 to receive our school code. A Financial aid application can then be submitted online.

Please note that financial aid is available on a limited basis, so please apply early. Aid is not available for the Summer Program.

Scholarships

General Scholarships:  R-MA offers General Family Assistance to students based on their families' needs. Need is determined by annual income, W-2 forms, and tax returns. The average award is $4,000-$8,000 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.

Work Scholarships:  A number of part-time employment opportunities are open to students 14 years of age and older. R-MA administers the work programs in strict accordance with state and federal laws. Time available for such employment is limited, so earnings provide only a small portion of total funding.

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.

Scholarships are not available to International students.

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.

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

Outside Scholarship Funds
Pathways to Success (7th-12th grade)
Washington Scholarship Fund (5th-12th grade)
Latino Student Fund (6th-12th grade)