Types of Financial Aid

Financial Aid options as well as eligibility and qualifications are listed below. Please note that the types of assistance may vary from year to year as a result of funding. It is very important to note that financial aid of any kind is only offered to those applying for assistance through FACTS Grant and Aid.

The following are the tuition assistance options available for the 2023–2024 school year.

McMahon Parater Foundation for Education

McMahon Parater Foundation for Education was created in 2008 by Bishop DiLorenzo to secure the future of Catholic schools by making them more affordable through financial aid for those students who seek a Catholic education by attending diocesan, parish, regional and independent Catholic schools within the Diocese of Richmond.

Eligibility:

1. Student’s enrollment application or re-registration form MUST have been submitted to the school.
2. Both Catholic and Non-Catholic students are eligible for scholarship consideration.

Qualification

Determined at the diocesan level based on information submitted to FACTS Grant and Aid.

Catholic Diocese Parish Sharing Award

The parishes within the Diocese of Richmond contribute to Catholic education through a parish assessment. These funds contribute to make Catholic education more affordable.

Eligibility:

1. Student’s enrollment application or re-registration form MUST have been submitted to the school.
2. Students baptized Roman Catholic are eligible for consideration for this assistance. A Baptismal Certificate must be on file in the school office.

Qualification

Determined at the diocesan level based on information submitted to
FACTS Grant and Aid.

Virginia State Tax Credits Scholarship

Under Virginia’s Education Improvement Scholarships Tax Credits (EISTC) program, donations to approved foundations will provide scholarships for low-income, new students at non-public schools. The Virginia Department of Education has approved the McMahon Parater Foundation to receive donations under this program, for distribution of scholarships to qualified students attending Star of the Sea Catholic School.

Eligibility:

1. Student’s enrollment application or re-registration form MUST have been submitted to the school.
2. Children receiving these scholarships must come from families whose annual
   household income is less than 300 percent of the current poverty guidelines.
3. Children with disabilities, the family’s household income must be no more than 400 percent of the current poverty level.
4. In addition, the children must be residents of Virginia and fit ONE of these criteria:
   a. are eligible to enter kindergarten or first grade, OR
   b. attended a Commonwealth public school for at least half of the current or
   prior school year, OR
   c. were not Virginia residents during the preceding school year, OR
   d. were not prior recipients of a scholarship under this program.
   e. Pre-Kindergarten students are NOT ELIGIBILE.

Qualification

Determined at the diocesan and school levels based on information
submitted to FACTS Grant and Aid as laid out by the Virginia Department of Education.

Segura Educational Initiative

The purpose is to increase enrollment of Latino students in Catholic schools of the Diocese of Richmond by providing financial aid to Hispanic families who have demonstrated financial need.
Eligibility:

1. Student’s enrollment application or re-registration form MUST have been submitted to the school.
2. Child must be a first, second or third generation Hispanic (one or both parents).
3. Be a new student applying to Catholic school.
4. Be Catholic and the family a registered family at a Catholic parish (family must
   provide a letter of verification from their parish office).
5. Understands that Segura scholarships are given only for financial need and in the case of new students are offered to those who will be attending up to 6th grade.

Qualification

Determined at the diocesan level based on information submitted to
FACTS Grant and Aid.