Scholarship

   The Our Faith STO is a charitable organization representing all of the Catholic K-12 schools in the Archdiocese of Dubuque and St. Paul’s Lutheran School in Waverly, IA. The STO receives voluntary cash contributions from Iowa taxpayers and allocates those funds in tuition grants to Iowa school children, who in turn, use those grants to attend one of the schools represented by the STO. For more information about the STO visit www.OurFaithSTO.org

Apply For Assistance

Timeline

The application is available at the school office and on line at http://www.psas.org/DUBQ.aspx. In addition to your completed application, you must include a copy of your 2015 federal income tax return or your 2014 federal income tax return with a copy of your 2015 W-2(s). The application needs to be completed on-line or via U.S. Mail, postmarked no later than March 22, 2016. We urge you to send the materials in early.

To assist you in filling out the application PSAS will have a call center available at 1-866-424-6443. The call center is open Monday-Friday from 11:00 am-7:00 pm, and on Saturdays from 8:00 am-noon. You are also welcome to call at the school for assistance.

  • Round 1 May 2016:  Award notification letters sent to all families who applied
  • May 2014: Families receiving assistance send confirmation they are accepting/declining the assistance back to the school.
  • Round 2 August 1, 2016  Completed applications must be received or filed electronically.
  • August 15, 2016  Award notification letters sent to all families who applied.
  • September 2, 2016:  Families receiving assistance send confirmation they are accepting/declining the assistance back to the school.

STO Qualifying Levels for 2015-2016

The image below depicts the STO Qualifying Levels for 2014-2015.

***Family Size

***Maximum Income

***Family Size

***Maximum Income

Two

$47,190

Five

$83,730

Three

$59,370

Six

$95,910

Four

$71,550

Seven

$108,090

* STO qualifying levels are based upon 300% of 2014 Federal Poverty Levels as required by Iowa law.

**Family size includes parents/guardians plus total number of dependents claimed on 2013 tax return. For families with more than seven persons, add $12,180 for each additional person.

***Families are eligible for STO financial assistance if their taxable income is at or below the above listed income levels. Local assistance may not be based upon the above. Falling within these guidelines does not necessarily guarantee tuition assistance.

Contribute

As an Iowa taxpayer, you can contribute to the STO and receive an Iowa tax credit equal to 65% of your contribution.  The amount you contribute qualifies as a charitable donation on your federal tax return as well. To date, donors to our STO have saved more than $14 million on their Iowa Income Taxes.

Additionally, C and S corporations, LLC’s, estates and trusts that file an Iowa tax return can also take advantage of this tax credit program.

Contribution Amount

$1000

Iowa Income Tax Savings (Credit)

($650)

Federal Tax Savings*

($250)

Total Cost after Tax Savings*

$100

*Assumes 25% tax bracket. This is provided as an example.

All taxpayers should consult with their tax advisor for specific information.