Dear OLOL and SJV Families,
We would like to take this opportunity to tell you how excited we are about this upcoming 2025–2026 school year and what it means to have you on this journey with us as we begin our transition to Saint Joan of Arc!
We are so proud of the Catholic school family that has been created from both our Lady of Lourdes and St John Vianney; we look forward to strengthening our relationships with each of you.
We have worked closely with leadership and many parishioners from both OLOL and SJV as well as with Scott County Catholic school system, to create a workable fee structure. The method that was created will be launched for this school year and will be reevaluated annually.
We also wanted to remind you that there will be a scholarship process in place for those families to apply for financial assistance. For those in need, please contact your parish priest for further guidance.
Reverend Jason Crossen Reverend Rich AdamFAQS
No. Our initial fundraising campaign raised approximately $18M. The projected total cost of the school is approximately $34M. The original projected cost of the school was over $40.0M. Through some outstanding work done by volunteers from St. John Vianney (SJV) and Our Lady of Lourdes (OLOL) parishes as well as Russell Construction and other vendors/suppliers, we have realized significant cost savings to date.
Yes. The parishes will have a mortgage for SJA school with Blackhawk Bank, and will be making monthly payments. Committees from OLOL and SJV will continue to work diligently to decrease project costs and increase fundraising to reduce this loan as much as possible.
A loan committee was established to procure the funds needed to complete the project. The group determined that a municipal conduit bonding process would be the best loan structure in order to get the lowest interest rate (due to tax exempt status the bonding process would allow). A Request for Proposal was completed. These proposals were received, and interviews with four banks occurred. This resulted in a loan with Blackhawk Bank, who agreed to fully fund the project. The agreement allows for pre-payment without penalty. This is important as we continue the fund raising campaign. If we are able to shorten the loan payback period, we can significantly reduce the total cost of the loan.
First, parish leadership along with the pastors negotiated a subsidy reduction as well as a building lease payment per student with Scott County Catholic Schools (SCCS) that can be used for capital improvements and debt reduction. Both parishes will be providing as much additional financial support as possible with annual appeals, planned giving, fundraising events, etc. (It’s important to note both parishes need to continue to meet their operating budgets before any additional parish funds can be allocated to the debt of SJA school). Second, all families of SJA students, parish and non-parish, will be required to commit to a tithing agreement that includes necessary contributions to ensure a parish subsidized tuition rate, and to voluntarily contribute to help service SJA debt. Fr. Jason and Fr. Rich have reduced the required weekly tithing subsidy amount for school families from $45 to $25 per week ($1,300 per year), saving families over $1,000 per year.
Contributions will be used primarily for paying back the loan for SJA school as well as other capital improvements, infrastructure updates, maintenance and repair, security and technology updates, and any other costs not funded by SCCS.
Tuition for the 2024-2025 school year is $4,600 for one student, with small reductions for additional students. Tuition for SCCS for the 2025 – 2026 school year will start at $7,135. The per student requested contribution for the 2025 – 2026 school year will start at $2,250 for the first student, with a $300 deduction per student after the first. The suggested contribution is capped at $5,400 for families with 4 or more students. There is also a requested contribution option based on gross income per family.
No. We are grateful for the contributions from all of the families who have supported the campaign. The initial donations to the SJA Foundation for the school were part of the initial One Faith, One Family, One Future campaign. Those contributions along with the incredible generosity of so many, have gotten us off to a great start in building our new Catholic school in Bettendorf. The reality is, we will have a $20M mortgage to pay off. Therefore, contributions already made to the campaign will not exempt any school family from the annual contribution.
No. ESA’s must be used only for tuition and educational expenses outlined by the State of Iowa.
We hope so, however for purposes of budgeting and projecting, we are estimating the school will be at 85% capacity, or 383 students. The current maximum number of K-8 students who can attend SJA school is 450.
The pastors along with the SJA finance council will closely monitor the school’s financial position annually, and will regularly review tithing agreements along with all other funding for SJA school. The faster we are able to pay off the school debt, the more money the parishes will save by shortening the term of the loan.
Fr. Jason and Fr. Rich want to be clear that the current recommended family contributions may become mandatory if this yearly goal is not met.
Please consult your tax advisor. Families may also be eligible for the Iowa Tuition Tax Credit, and may receive up to a $500 tax credit per child per year. Again, please confirm with your tax advisor.
No. Currently, the cost to educate a student is just over $10,000, with tuition at just over $7,100. This results in a shortfall, and the required school family tithing agreement provides some of the funds needed to help make up this difference.
The majority of these funds will be used to pay down loan principal. Parish leadership recommends allocating 10% - 20% of all excess funds to an emergency fund for future unexpected expenses and/or additional financial needs.