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Financial Aid FAQs

Greensboro Day School makes a strong commitment to need-based Financial Aid to support students who otherwise would not be able to afford tuition. Our Financial Aid program enriches the entire school by fostering a socioeconomically diverse community representative of our city and world.

Basic to our approach at Greensboro Day School is the assumption that the primary responsibility for the cost of a child's education resides with the family and that Financial Aid must be based on demonstrated need, not on willingness or unwillingness to pay. This means that the family will be expected to draw upon all available sources of support, including use of income from both parents, as is feasible, and from grandparents where appropriate.

 

 

When will the Financial Aid application process for the 2017-2018 school year begin?

You can begin applying for financial aid for the 2017-18 school year on January 1, 2017. Please contact the Admission Office to receive financial aid information.

What types of financial assistance does GDS offer? Does the school give athletic or academic scholarships?

Financial Aid at GDS is based on a family’s demonstrated financial need and is offered in the form of a grant, meaning the money does not need to be repaid. This grant is applied toward tuition and laptop expense onlyA committee of staff members considers all financial aid applications in strictest confidence, awarding grants based on a need analysis provided by Financial Aid for School Tuition (FAST) and on other special circumstances explained by the family in writing. Greensboro Day School does not offer academic or athletic scholarships.  All Financial Aid is based on demonstrated financial need.

 

Does the Financial Aid process have any bearing on the admission process?

The admission process is independent of the financial aid process. Applicants are accepted on a financial “need-blind” basis. Applying for financial aid does not affect the applicants chance for admission.  Once accepted for admission, families who have properly applied for financial aid and met the timeline for submission will have the financial aid application reviewed by the Financial Aid Committee.

When does the Financial Aid process begin for a current student?

Current families should submit their application to FAST by January 16.  Parents of currently enrolled students who wish to apply for Financial Aid for the first time should contact the Admission Office ASAP to receive financial aid information.  

How is the financial need determined?

In common with most independent schools, the GDS Financial Aid Committee determines a family's contribution using a standardized calculation (derived by FAST).  This system considers income, assets, liabilities, family size and number of students in tuition-charging institutions. After an allowance for basic necessities and taxes, the remaining funds are considered discretionary income. The Financial Aid Committee may not consider expenses entered for depreciation, second homes and investment properties, hobby businesses, club memberships or educational costs/loans for parents completing or continuing their education. We will consider the potential for income to be earned by a non-working parent who does not have small children at home.

If I am awarded Financial Aid, will I have to pay anything?

Every family contributes a portion of the overall cost of a Greensboro Day School education.

Is Financial Aid automatically renewed each year?

GDS requires families receiving Financial Aid to reapply each year. As long as a student remains in good standing, Financial Aid will be renewed according to demonstrated need.

Will a change in family financial circumstances result in a change in the Financial Aid decision?

If there is a significant change during the school year, please notify the Financial Aid Coordinator. In extreme circumstances it may be possible to adjust the grant for the current year, provided that funds are available. The committee will naturally consider new information when evaluating the following year's grant.

What happens if parents are separated or divorced?

We subscribe to the principle that both parents are responsible for the support and educational expenses of their children to the extent that they are financially able to do so. We require that both the custodial and noncustodial parent provide us with the appropriate forms and information. While some divorce settlements stipulate the exact amount each parent must pay toward educational costs, we will not necessarily feel ourselves bound by such agreements and will instead require each parent to contribute an amount appropriate to our need analysis. When natural parents remarry, we will take into account the obligations of the parent to his or her new family. We will include in the calculations the resources of the stepparent, keeping in mind the stepparent's obligation to his or her natural children.

What is the extent of the school's Financial Aid program?

Over the past years, the Financial Aid Committee has awarded between 1.5 to 2.5 million in need-based grants, awarding  grants to approximately 18% - 25% of the student body.

What kind of Financial Aid information is requested by FAST?

Generally speaking, much of the information requested by FAST is found on one's IRS 1040 form. The school also requires any other IRS schedules you file. The need assessment takes into account income, assets, expenses and liabilities.
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