Scholarships & Bursaries
Financial Aid for New Students to Albert College
The deadline for financial aid applications for new applicants is January 30th. Students accepted after this deadline are asked to submit their applications as quickly as possible although available financial aid may be limited. Albert College financial aid ranges from $1,000 up to one half of the fees for day or residential students.
Please note that families must have successfully completed the admission process prior to being considered for Albert College financial aid. All applications are reviewed by the Financial Aid Committee.
Procedure for applying for Scholarships:
Scholarships are awarded to students based on academic achievement, athletic participation, involvement in the Arts and active citizenship. The scholarship applications are assessed by the Albert College Achievement Rubric and the scholarship exam or by the standards set forth by the donor.
New students write the scholarship examination that measures aptitude in mathematics and English. Residential students within reasonable driving distance of the school will write the Scholarship Examination at the time of their interview and tour at Albert College. Residential students unable to visit the school will write the scholarship examination while under approved supervision in their home province or country, followed by a telephone/Skype interview. In addition to the above, new applicants are also required to complete our Application for Admission and the $100 application fee, a completed Teacher Evaluation and copies of their past two year’s academic report cards.
Students receiving a scholarship will retain that scholarship for as long as they remain in good academic and social standing with the school. Decisions will be communicated soon after the January 30th deadline.
In addition, Bermudian students who have shown outstanding academic and all-round achievement are eligible for the Frederick Sydney Smith ’31 Scholarships. Please Click Here for more information about the Frederick Sydney Smith ’31 Scholarship and to apply.
Procedure for Applying for Bursaries:
Scholarship recipients are also eligible for bursary assistance, if the amount of the scholarship is insufficient to enable them to attend the school.
Albert College bursaries are awarded annually to deserving new students entering Grades 7 through 12/Post Graduate. Bursaries are grants that are based on financial need and are renewable each year, upon completion of the Financial Aid for Canadian Students (FACS) Application Form. These bursaries do not require repayment.
Bursaries are awarded to students with demonstrated financial need who exhibit sound scholastic achievement, good character and a capacity to make a worthwhile contribution to the school. Applicants must submit a completed FACS application form directly to Apple Financial Services by January 30th, annually. The Apple Financial Services Application can be completed online. Completed forms, including a non-refundable fee ranging from $65.00 to $70.00 per school, depending on method of payment, are returned directly to Apple Financial Services for analysis to determine need prior to consideration by the Albert College Financial Aid Committee.
For more information about our Financial Aid Program, please contact the Admission Office.
Financial Aid for Current Albert College Students:
Procedure for Applying for Scholarships:
Scholarships are awarded to students based on academic achievement, athletic participation, involvement in the Arts and active citizenship. The scholarship applications are assessed by the Albert College Achievement Rubric or by the standards set forth by the donor. Current students, including those currently in our grade 6 program, are also asked to provide copies of their past two academic year’s report cards.
Current students receiving a scholarship will retain that scholarship for as long as they remain in good academic and social standing with the school and need not re-apply each year. In addition, current Bermudian students who have shown outstanding academic and all-round achievement are eligible for the Frederick Sydney Smith ’31 Scholarships, please Click Here for more information or to apply.
Scholarship recipients are also eligible for bursary assistance, if the amount of the scholarship is insufficient to enable them to attend the school. Decisions will be communicated soon after the January 30th deadline. All awards are taxable to the student.
Procedure for Applying for Bursaries:
Albert College bursaries are awarded annually to deserving students entering Grades 7 through 12/Post Graduate. Current grade 6 students are also eligible to apply. Bursaries are grants that are based on financial need and are renewable each year. These grants do not require repayment. The deadline for financial aid applications is January 30th. Albert College financial aid ranges from $1,000 up to one half of the fees for day or residential students.
Bursaries are awarded to students with demonstrated financial need who exhibit sound scholastic achievement, good character and a capacity to make a worthwhile contribution to the school. Applicants must submit a completed Financial Aid for Canadian Students (FACS) application form directly to Apple Financial Services by January 30th, annually. The Apple Financial Services application can be completed online and must be re-applied for annually. Completed forms, including a non-refundable fee ranging from $65.00 to $70.00 per school, depending on method of payment, are returned directly to Apple Financial Services for analysis to determine need prior to consideration by the Albert College Financial Aid Committee. Decisions will be communicated soon after the January 30th deadline.
For more information about our Financial Aid Program, please contact the Admission Office.
Tax Credits
Albert College provides a child care expense receipt for a portion of the fees in accordance with Canada Revenue Legislation. However, the school strongly recommends that you seek tax advice from your financial advisor before making a claim.
Frequently Asked Questions on Financial Aid (top)
1. What is financial aid?
Financial aid provides funds to families who need assistance to meet the tuition expense of an independent school. Funds are provided from interest on the school’s Endowment Fund and from donations. A request for financial aid in no way affects the admissions decision.
2. Who can apply for financial aid?
Anyone can apply for financial aid. Most recipients’ household income is in the $75,000 to $100,000 range. It is important for applicants to realize that the assistance program is meant to supplement, not to replace the family’s financial commitment. The income of families receiving aid varies from $50,000 to $140,000. Only students who have been admitted by the Admission Committee can be considered for aid. Requests regularly exceed the financial aid budget; however, with the significant sacrifices families are prepared to make for students receiving aid, the majority of students accepted are able to attend.
3. How is financial aid determined?
Albert College provides the Financial Aid for Canadian Students (FACS) application form and FACS uses a standard formula to determine the needs of each family. Consideration of income, expenses, assets and debts, age, size of family and the number of children at tuition paying schools and universities establishes the need. The school’s Financial Aid Committee then determines an award that may be a bursary or a combination of scholarship and bursary.
4. How much can we expect to receive?
Most awards for families who qualify are between $4,000 and $10,000 for boarders. In determining the aid awarded, consideration is given to financial need, academic achievement and breadth of contribution. A few exceptional students receive awards over $10,000. Families with significant assets may be disappointed and are encouraged to consider bank loans.
5. Is there a limit to the amount a family can receive?
Albert believes that every family, regardless of means, should contribute something to the education of their child. Each case is considered individually and therefore aid may differ significantly from one case to the next.
6. Is the financial aid renewable each year for the same amount?
Each year is considered separately and therefore a new application must be completed for the next school year. Changes in financial status may affect the size of the award. Generally, the amount awarded remains the same until graduation, provided the student is in good academic and social standing. Families are considered for aid only if previous school bills have been paid in full.
7. What happens if the parents are divorced or separated?
The school requires both parents to submit financial statements. Confidentiality is assured. A contribution from the parent with whom the student does not reside is expected only after all special circumstances; including child support and alimony are considered. Please contact the Director of Admission for guidance in handling unusual circumstances.
8. What if someone of apparent greater wealth receives aid and you do not?
The Financial Aid Committee reviews a statement of the needs of each family. Full financial disclosure of income and net worth is required, and income tax returns may be requested. It is unlikely that someone of apparent greater wealth will receive more aid, but as both need and the overall contribution of the student varies, so can awards. Scholarships are publicized; bursaries are not. The school, and, we hope, the families, take confidentiality very seriously.
9. Where are applications for financial aid available? Is there a deadline?
You may obtain an application by calling the Admission Office. You may also receive specific information when you visit or tour the school. New forms are available in October and the deadline for submission is January 30, 2010. Decisions are mailed shortly thereafter. Applications for new families are accepted after January 30, 2010; although, the funds available may be limited.