Navigating the Costs of Education at The First Academy

Choosing the right educational environment for your child is a significant decision, and understanding the financial aspects is a crucial part of that process. The First Academy focuses on providing spiritual and academic training for students, and this article aims to provide a comprehensive overview of tuition costs, fees, and available financial assistance options.

Tuition and Fees at The First Academy

The First Academy provides spiritual and academic training for students in preschool through fifth grade. Knowing a school’s fees is just as important as knowing the tuition. While most schools charge additional fees for educational resources, such as books and technology, The First Academy does not. These expenses are already included in tuition, and our fees are approximately half of the cost charged by other Central Florida private schools.

Registration Fees

All registration applications must be accompanied by the registration fee to be fully registered. Registration fees are paid online through FACTS application and enrollment. All registration fees are non-refundable.

Early Bird Discount: There is a $100 discount for applications received by May 1, 2025.

Tuition Payment Plans and Associated Fees

The First Academy offers flexibility in tuition payment plans to accommodate different family needs. However, it's important to be aware of the fees associated with each plan:

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Annual Payment Plan: This plan has a $25 one-time fee. FACTS Tuition will bill the full tuition by invoice to be due by April 5. The invoiced amount will include a 1% discount. Payments can be made to FACTS by check, checking account or credit card. Credit card payments will have an additional convenience fee assessed.
Monthly Payment Plan: This plan has a $55 one-time fee. Monthly payments will be withdrawn by FACTS Tuition from a bank account on the 15th of each month.

Note: Payment plan fees, Late fees, and NSF fees are required by FACTS and are not administered by First Academy.

Discounts

The First Academy offers several discounts to make education more accessible:

First Baptist Rogers Members: Receive a 10% tuition discount.
Multiple Children: Families with multiple children receive a 10% discount for the second child and 15% for the third/subsequent children. Only one discount will be applied per child.

Referral Incentive

Enrolled families who refer another family to First Academy can receive a $150 referral credit (applied to account in September) for each family who enrolls and attends First Academy. There is no limit to how many referral credits can be earned.

Understanding Tuition Assistance Programs

The First Academy believes that enrollment should not be limited to families who are unable to pay full tuition. The tuition assistance program helps to achieve social and economic diversity within the school community. This goal is an integral and respected part of the school’s philosophy, operating budget, and fundraising objectives. The First Academy may not be able to meet 100% of the demonstrated need for each applicant, and frequently, the number of qualified applicants exceeds the tuition assistance resources of the school. Tuition Assistance is closed for the 2024-2025 school year and limited for the 2025-2026 school year.

How to Apply for Tuition Assistance

Complete Student Application: Your online student application must be completed before applying for Financial Assistance.
FACTS Grant & Aid Assessment: The First Academy uses a third-party company, FACTS Grant & Aid, to assess need. The Application cost is $40.
Apply for State Scholarships: All tuition assistance applicants must apply for a Florida Department of Education Scholarship through Step Up for Students. Scholarship awards will be considered during the tuition assistance grant process.

Available Scholarship Programs

Several scholarship programs can help offset the cost of tuition at The First Academy:

Family Empowerment Scholarship Program: The Family Empowerment Scholarship Program was enacted in 2019 and is designed to give more families access to private school education.
Family Empowerment Scholarship for Educational Options (FES-EO): The Family Empowerment Scholarship for Educational Options (FES-EO) scholarship is accepted for students in The First Academy’s 5-day program in grades TK-12. To be eligible to receive this scholarship, your family must meet certain income requirements.
Family Empowerment Scholarship for Students with Unique Abilities (FES-UA): The Family Empowerment Scholarship for Students with Unique Abilities (FES-UA) is different than other state scholarships in that it allows parents to personalize the education of their children with unique abilities by directing money toward a combination of programs and approved providers. These include schools, therapists, specialists, curriculum, technology - even a college savings account. This scholarship can be used for tuition at The First Academy 5-day program or Distinct Abilities Learning (formerly The First Hope) of The First Academy program for students ages 3 through twelfth grade or age 22, whichever comes first. Families who receive the FES-UA scholarship for at least one student in their family, automatically qualify for the FES-EO scholarship for all other K-12 students in the family, regardless of household income.
Florida Tax Credit Scholarship: This scholarship is administered through the Step Up for Students Organization and is accepted for students in The First Academy day program.
Hope Scholarship: The Hope Scholarship was created to give parents the option to place their student in a safer school environment. This scholarship is accepted for students in The First Academy’s 5-day program.
Folds of Honor: Current or past service members and first responders may be eligible for additional scholarship opportunities through Folds of Honor.

Exploring Tax Benefits and Savings Options

Several tax benefits and savings options can help families manage the costs of private education:

529 Plans: Under the Tax Cuts and Jobs Act passed in December of 2017, qualified distributions are now allowed of up to $10,000 per year for K-12 tuition at any private school. These plans were designed as a vehicle to fund a college education, and now but there are educational situations where using these funds can be beneficial. For example, perhaps your funding is running ahead of projections for college financing needs and won’t be needed for college or you may have a 529 plan intended for an older sibling that wasn’t used.
Coverdell Education Savings Account (ESA): Parents who meet certain income guidelines are eligible to contribute up to $2,000 per year to a Coverdell ESA. Contributions are made from your after-tax income, and earnings on those contributions grow tax-free.
Dependent Care Flexible Spending Account (FSA): If your employer offers a Dependent Care Flexible Spending Account, funds you deposit can be used toward eligible dependent care expenses. Since contributions to a Dependent Care Flexible Spending Account are pre-tax, it can be a great way to save on your overall expenses. Eligible dependent care expenses include afterschool programs, Kindergarten Prep 3 or 4 tuition, and even summer camps for dependent children under the age of 13.
ROTH IRA: ROTH IRA contributions (not investment returns) can be distributed at any age without penalty. This can be a great way to fund private school tuition as the investment earnings keep growing after withdrawing the original contributions. You should never compromise your future financial security.
Gifts: Grandparents and other family members may be willing to help support your student with the gift of tuition.
Federal Tax Credits: Under current federal law, eligible families can claim 2021 child care tax credits up to the following maximum amounts: $8,000 from the federal Child and Dependent Care Tax Credit (up to $4,000 for each of your first two children). For 2021, this is a refundable credit. $6,728 from the federal Earned Income Tax Credit. $3,600 per child under six (as of December 31, 2021) and $3,000 for children 17 or younger (as of December 31, 2021) from the federal Child Tax Credit (these amounts were permanently enacted into the law).There are rules for these federal tax credits, so please speak to your tax advisor about how they apply to your family. In the meantime, this child care tax credits calculator is a quick tool for a broad estimate.
State Tax Benefits: Each state offers different tax credits to offset the cost of child care.

Additional Considerations

Non-U.S. Residents: Non-US residents will pay a $3,750 fee per student (new or returning).
Tuition Refund Program: The purpose of the Tuition Refund Program is to allow partial refund/waiver of tuition owed under the annual tuition contract in the event of a student’s withdrawal. Families who withdraw on August 7 and thereafter owe through the academic quarter for time enrolled and the applicable percentage of unused tuition. Includes disability or mental disorder certified by a licensed doctor that prevents enrollment at any school for the remainder of the current school year. Request for medical withdrawal must be received before any other withdrawal reason. Election of the Tuition Refund Program can only be made during the enrollment change period.
Credit Card Payments: Families who choose to pay tuition, incidentals, or lunch payments by credit card will incur a convenience fee charge from FACTS.

FACTS Tuition Management

FACTS is a third-party company The First Academy uses for aid assessments and tuition management. FACTS Grant & Aid Assessment determining eligibility for need-based financial assistance.

The First Academy-Leesburg: An Overview

First Academy-leesburg serves 553 students in grades Kindergarten-12, is a member of the Association of Christian Schools International (ACSI) and the Other school association(s). The student:teacher of First Academy-leesburg is 15:1 and the school's religious affiliation is Baptist. Top Ranked FL School, Grades: Kindergarten-12, Enrollment: 553 students, Yearly Tuition: $9,000, Acceptance rate: 100%, Average class size: 22 students, Application Deadline: None / RollingSource: National Center for Education Statistics (NCES). The average private school tuition in Leesburg, FL is $11,477 for elementary schools.

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