Grant & Loan Guidelines
Limited funds are available through the Montana Academy Foundation to support current Montana Academy families when an unanticipated financial crisis puts their child’s completion of the MA program in question. The Foundation’s funds for this purpose are reserved for families experiencing an unforeseen and dramatic reduction in available resources to support a son or daughter’s experience at MA.
The Foundation’s Board of Directors applies certain guidelines to determine whether financial aid, in the form of a grant or a loan or a combination of the two, is warranted:
1. Unexpected Need. A student is admitted to MA only after the family has confirmed that sufficient resources are available to support the full cost of the complete program. Grants or loans are reserved for those students whose families have suffered a significant and unanticipated financial crisis that places a student’s completion of the program in jeopardy.
2. Tenure in the Program. Typically, students should have been in the program for 12 months and reached Sun Clan (or higher) to be eligible for financial assistance. In addition, both the student and the family should have demonstrated a sustained and vigorous commitment and should have a good prognosis for completing the program.
3. Need-based Grants and Loans. The purpose of a grant or a loan (or a combination) is to cover a shortfall in a family’s ability to pay the full cost of the program. The decision as to whether a grant or a loan is appropriate depends on the specific financial circumstances of each applicant and will be determined by the MAF Board. Families receiving a grant or loan are expected to continue to fund as much of the program’s cost as they are reasonably able to do (almost always at a minimum of 33%). The grant and/or loan remains in place only so long as the family is unable to recommence full funding on their own.
4. Application Requirements. All applicants for Foundation funding must provide full financial information, including tax returns. These materials are reviewed by an independent accountant retained by the Foundation for this purpose. In addition, applications must include: an explanation of the circumstances giving rise to the application; the extent of the expected need; the anticipated duration of the financial crisis. The Foundation Board meets quarterly and strives to respond to applications in a timely manner.
5. No Guaranties. The ability of the Foundation to provide grants and loans is entirely dependent on its ability to raise funds through charitable donations. There is no guarantee that funds will be available to make commitments in the full amount required or at all.
6. If you are the parent/guardian of a current Montana Academy student and believe that your circumstances fit the criteria listed above, please contact Amy Zink by telephone (406 858 2339) or email (firstname.lastname@example.org) for further information and application materials.
Please note: The Montana Academy Foundation hopes that families who receive assistance (either through grants or loans) will provide support to the Foundation when and if they are financially able. By doing so, families who have received aid can help to ensure the continuity of the program for future families in need.