Catholic Schools -- Tuition Aid Sources

SOURCES OF FINANCIAL AID

Parish Supported Financial Aid Fund - A significant amount of financial aid is available as a result of the generosity of Catholics from the four counties of the Diocese of Greensburg. These funds have been entrusted to the parishes for the sacred works of the Catholic Church. This fund ensures that Catholic schools remain affordable to all families that desire such an education.

Diocesan Endowment Funds - Only the interest monies from these endowments are used to fund tuition assistance, while the principal amount of the endowment remains intact.

St. Gerard Financial Aid Endowment Fund - A $1.5 million donation was recieved by a generous local family. Since the family wishes to remain anonymous, the name St. Gerard was chosen as the fund's name.

Diocesan Financial Aid Endowment - This endowment is funded by $2.5 million in gifts through the Honoring Our Past ... Shaping Our Future capital campaign, and recieves nearly $100,000 per year from the diocese and from the Catholic Schools Week special collection held in diocesan parishes on the last Sunday of January.

Scholarship Partners Foundation (SPF) - This foundation was established by the Diocese of Greensburg in order to take advantage of the Educational Improvement Tax Credit (EITC) program in the Commonwealth of Pennsylvania. It receives contributions from companies that do business in Pennsylvania and pay certain state taxes in exchange for business tax credits. Companies must apply for the tax credits and receive approval from the State's Department of Community and Economic Development. As of February 2005, the Scholarship Partners Foundation has received $1.5 million with pledges totalling over $1.7 million. Several companies participating in the program have designated their donation be used for aid at a particular diocesan school. These gifts are used to benefit qualifying families at the local school level. State-mandated income guideles determine eligibility for families to receive aid from the Scholarship Partners Foundation.

School Tuition Assistance - Many schools have successful development and fund-raising programs that can be significant sources of tuition assistance for families at the local school level.