Financial Information

Financial Contract Process

Upon acceptance, the Student Accounts representative in the Business Office will prepare the financial contract with each family.
Note: Financial contracts must be completed for each student for the current school year. These contracts outline payment plans and are signed by the parent / guardian, financial sponsors and Forest Lake Academy. If financial assistance is needed to help offset the cost of tuition, the parent / guardian must complete the FACTS Grant and Aid Assessment Application. This must be done online at www.factstuitionaid.com. No financial assistance will be awarded unless this application is successfully processed by FACTS.

FACTS

Forest Lake Academy contracts with FACTS Management Company to provide the following services:

Grant and Aid Assessment Program: A program where families provide their relevant financial information directly to FACTS. Information gathered by FACTS remains strictly confidential. The FACTS information is compiled to evaluate the financial need status of each applicant and is communicated to Forest Lake Academy.
Note: An annual fee of $30/family is required for this program.

Tuition Management Program: A program that allows families to pay tuition monthly through an automatic payment. The benefits of this program include:

  • Assurance that payments will be received on time
  • Choice of payment processing dates
  • Convenience of checking online for payments processed
  • Option of enrolling in the Peace of Mind Benefit Plan. This plan guarantees the student’s tuition for the current school year is paid in full in the event of death of the responsible party

All tuition accounts must be paid through the FACTS tuition payment plan unless they are paid in advance for the year or semester by July 31 or January 1 respectively.
Note: The FACTS Management Company is not a grant or scholarship provider.

Tuition Assistance Programs

Programs Funded by Forest Lake Academy
Forest Lake Academy’s Tuition Assistance Programs includes programs funded by the academy through donations made possible by the generosity of the Florida Conference of Seventh-day Adventists, local churches, alumni and friends.

Note: Families desiring grants / scholarships provided by Forest Lake Academy, or priority consideration for student employment through the Business Office must complete the FACTS Grant and Aid Assessment. Forest Lake Academy has limited scholarship resources and completion of the FACTS Grant and Aid Assessment does not guarantee the awarding of assistance.

2-Way Matching Scholarship
This scholarship is available to Florida Conference of Seventh-day Adventist members whose student resides in the dormitory and whose church participates in this program. Annual scholarship amounts are as follows:

Church PaysFLA Pays
Freshmen and Sophomores$300$600
Juniors and Seniors$150$300
Programs Funded by Outside Organizations
Forest Lake Academy’s Tuition Assistance Programs include scholarships and grants funded by outside organizations.

Note: These scholarships are not affiliated with Forest Lake Academy. The academy holds no responsibility in determining final eligibility or maintaining or setting the policies of these programs. It is the responsibility of parent / guardian or financial sponsors to ensure that all eligibility criteria are met and maintained throughout the scholarship period.

Step Up for Students Scholarship
This grant is for students who meet the established guidelines. This information is available by visiting the website for Step Up for Students at www.stepupforstudents.org.

McKay Scholarship
This grant is for students who meet the established guidelines. This information is available by visiting the website for McKay at www.floridaschoolchoice.org.

Tuition Discounts
All discounts are calculated on the tuition amount less outside sources. Registration Fee, Technology Fee, or Room and Board are not eligible for discounts. International students are not eligible for these discounts.

  • Prepayment of a semester by July 31 or January 1 respectively will receive a 1.5% discount
  • Prepayment of the full year by July 31 or January 1 respectively will receive a 3% discount
  • A family with two or more full-time students will receive a 5% discount for each student
Taxability of Scholarships and Grants
Forest Lake Academy is not responsible for any tax liability incurred due to the receipt of a grant or scholarship.

Miscellaneous Charges
Miscellaneous charges are not included in the Financial Contract and must be paid promptly.

Fees that May be Charged to the Tuition Account

  • Elective class supplies – Art and Music classes – $20-45
  • Uniforms
    • PE – $25
    • music groups – $110-$175
  • Excess dormitory meal plan charges
  • Returned check fee – $35.00
  • Graduation Fee – $100
  • iPad claim / replacement – $60-503
  • Varsity League Fees – $150
  • Varsity Tournament Fees – $500-$550
  • And similar items
Fees that May Not be Charged to the Tuition Account

  • Community student meals
  • ID card replacements
  • Library fines
  • Extra-curricular activities, including Varsity
Release of Transcripts
Transcripts and diplomas will not be released until account balances, including all miscellaneous charges, are paid in full.

Student Bank
Dorm students are strongly encouraged to deposit personal money in the student bank, located in the Business Office. The student bank is available during normal business hours. Parents may send money directly to the Business Office for their students. Monies from student and parent deposits will be receipted by the Business Office and will not be disbursed without the signature of the student account holder.

Foreign Currency / International Students
All fees must be paid in U.S. dollars. Parents of international students may contact the Business Office to make payments by phone. All international students must pay their fees in advance.

Refunds
Tuition accounts of students withdrawing from Forest Lake Academy will be adjusted and tuition incurred will be returned on a prorated basis. Actual withdrawal dates will be the effective date used for refund calculations. Refunds and / or final accounting will be provided within 30days of this date. Registration and Technology fees are non-refundable after the first week of school. The Miscellaneous charges mentioned above are also non-refundable.

Payment Obligation
It is a binding contractual obligation on the part of the parent / guardian to pay the entire tuition charge for the student as specified on the current payment schedule regardless of attendance. Nonpayment of financial obligations is grounds for immediate dismissal of students. No portion of fees paid our outstanding will be refunded on cancelled due to any subsequent absence, voluntary withdrawal, or forced dismissal of students.

SUBSCRIBE TO OUR NEWSLETTER

Your Name:*
E-mail:*
Phone:*
-