You can begin applying for financial for the 2013-14 school year on January 1. Information about the process of applying will be available online in mid-December.
Financial Aid at GDS is solely 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 only. A 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 applicant in writing. Greensboro Day School does not offer athletic scholarships. There are a few academic or merit scholarships that offer modest monetary awards. Presently these awards are only available to students in the upper school. Once admitted to GDS, families are made aware of any merit scholarship opportunities for which they may be eligible. All other Financial Aid is based on demonstrated financial need. The School does not offer athletic scholarships.
The school offers several payment options for families. No loans are available through the school.
If you have indicated on the admission application that you are interested in receiving Financial Aid information, a packet is automatically sent to you (beginning in December). The application packet includes step-by-step instructions for completing the online application. The packet also includes an envelope and instructions for mailing to FAST copies of your federal income tax forms, W2 forms, etc. If you have not received a packet and would like to apply for financial assistance, please call the Admission Office at 288-8590.
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 applicant’s 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.
Current families should submit their application to FAST by January 14. Parents of currently enrolled students who wish to apply for Financial Aid for the first time should contact the Admission Office ASAP to received the financial aid packet.
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 and club memberships. We will consider the potential for income to be earned by a non-working parent who does not have small children at home.
Every family bears a portion of the overall cost of a Greensboro Day School education.
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.
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.
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.
In past years, the Financial Aid Committee has awarded between 1.1 to 1.8 million in need-based grants, awarding grants to approximately 12% - 19% of the student body. The school devotes between 6%-11% of its operating budget to need-based financial assistance.
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.