CA launches Emergency Tuition Assistance Fund

Colorado Academy has launched a campaign for an Emergency Tuition Assistance Fund  in the wake of economic fallout from the COVID-19 pandemic. The dollars raised will be used to support CA families in need of short-term tuition assistance, especially those who have been required to close their businesses or are facing a job loss or significant reduction in their income due to the pandemic.

“So many people have reached out to find out how they can help. This is a way to support our CA community, ensure our enrollment, and thereby continue to retain our incredible faculty,” says Head of School Dr. Mike Davis.

Davis continues, “We know from past major events, including the recession and market crash of 2008, as well as events like 9/11, that the economic ripple effect hits many families’ finances. Further, we know the financial impact from the COVID-19 outbreak may last for many years once the health crisis abates.”

To weather a widespread economic crisis, tuition-based schools like CA must create an emergency assistance fund that equals 20-30 percent of the school’s annual financial aid budget. Prior to the coronavirus, CA had already fully allocated its nearly $4 million in financial aid to 19 percent of students who are enrolling at CA for next year.

“With help from CA families, alumni, and others, we hope to be able to provide emergency tuition assistance for those with the greatest need for the 2020-2021 school year and beyond,” says Davis. Donors may make a gift online through this Emergency Tuition Assistance Fund link on the CA website.

Families anticipating a need for assistance will be will be asked to complete the financial aid process to demonstrate need, just as any family requesting assistance must do each year. CA’s Financial Aid Committee will award emergency funds carefully and equitably in an effort to sustain our community and provide continuity for students whose families face immediate hardship.

“We must be steadfast in our commitment to economic diversity within our community and to making a CA education accessible to as many students as possible,” says Davis.

Colorado Academy students have been attending virtual classes via video conferencing since March 25 after returning from Spring Break, and in just three days, CA’s nearly 1,000 students and some 150 faculty logged 1,500 online meetings, classes, and lessons and racked up nearly 500,000 minutes of instruction time. The CA campus, and all other public and private school locations, is closed by order of Colorado Governor Jared Polis until at least mid-April to minimize the spread of the coronavirus.