Financial Assistance

Financial Assistance at Greensboro Day School

Our Commitment
A Greensboro Day School education is an investment in a child’s future. In fact, Greensboro Day School parents believe this investment is so critical they are willing to sacrifice other interests to provide this important opportunity for their children.

Greensboro Day School makes a strong commitment to need-based financial assistance (FA) to support students in grades K-12 who otherwise would not be able to afford tuition. Twenty-seven percent of our families receive financial assistance with an average of 2 million dollars each year being allocated to the financial assistance program.

We do not award merit-based scholarships, artistic scholarships or athletic scholarships. Additionally, all admission decisions are made based on student merit and without regard to a family’s ability to pay tuition. Given the volume of FA applications we receive annually, Greensboro Day School is regrettably unable to accommodate every request for assistance. If a student is offered admission but we are unable to accommodate the family’s demonstrated need, the admitted student will be placed in our FA wait pool. If additional funds become available later in the spring, the Financial Assistance Committee determines how to allocate these funds to the students in the wait pool. Financial aid is awarded without regard to religion, race, national and ethnic origin, or gender.

Basic to our collective 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 FA 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 and/or others where appropriate. Like other independent schools, Greensboro Day School uses an outside vendor, Financial Aid for Student Tuition (FAST), to determine financial need.

Each year the need-based FA program at Greensboro Day School gives priority to currently enrolled children. Current families who wish to enroll another child are given priority over new families. However, a second/third child interested in enrollment is not guaranteed a financial aid award.

Financial Aid Process

List of 3 items.

Important Guidelines

Based on the financial information you provide, FAST gives us an estimated amount your family can contribute to educational expenses. This estimate is a starting point to help us make a fair and objective financial aid decision. As with many independent schools Greensboro Day School has a philosophy on awarding need-based grants. Some of these guidelines include:

SEPARATED, DIVORCED, OR REMARRIED PARENTS:
We expect all parents/guardians to contribute to the cost of education. All parents/guardians (including divorced, separated, and partners) are required to submit financial documentation. Regardless of the personal or legal relationship between the individuals listed, the school will consider the assets of both natural parents before making any award and cannot be bound by the assertion that one parent has disclaimed responsibility for educational expenses. If either parent has remarried, we will also consider the assets of the stepparent, always bearing in mind the obligation of the stepparent to his or her own natural children. It is necessary for both natural parents and their current spouses, if any, to fill out a financial aid application. If information from both custodial and noncustodial parents is not provided, the Financial Aid Committee will not be able to consider that family’s request for aid.

TRUST AND/OR COLLEGE FUNDS:
Trust funds and/or funds or accounts ear-marked "For College" are considered student assets and are treated accordingly. While it may not be possible for a family to tap the principal of such funds, the existence of the funds means that more of the family's current income is available for tuition.

EMPLOYMENT:
FA decisions are based on dual incomes for a two-parent household. Exceptions would include families with young children not yet in school or other dependents in the home needing full-time care, or a physical/health limitation that prevents a parent from working. If a parent chooses not to work without having any of these exceptions, the school will add the equivalent of a $23,000 salary to the family’s total income for the year.

MULTIPLE CHILDREN/SIBLINGS:
The need-based financial aid process takes limited consideration into older children in college, but does not take into consideration a parent’s undergraduate or graduate school tuition. Need-based aid is for the accepted child only and does not necessarily increase if a sibling enrolls the following year nor does it decrease if a sibling withdraws.

ADDITIONAL EXPENSES:
An FA grant only assists with the cost of tuition. Families are responsible for additional expenses that may include (but are not limited to) books, athletic supplies, academic tutoring, lunch, after-school classes, etc. Expenses other than tuition vary by grade and division.
Timeline
If your child is not currently enrolled at Greensboro Day School, you must first apply for admission prior to applying for financial aid. New families will not be offered an FA grant unless they have completed the admission process and offered acceptance.

December 2021: The FAST application is open for online submission. Please ensure your student billing account is current. We are unable to offer a need-based financial aid award to current families with accounts in arrears. All parties of divorced/separated families must submit all information listed on the FAST application.

(By) December 17, 2021: FAST application due. Upload your 2020 Federal and State tax returns to FAST, including all schedules and W-2s. Please understand that without your 2020 tax forms on file with FAST we will be unable to offer you a need-based award for the 2022–23 academic year.

December 14, 2021: The Greensboro Day School Board of Trustees meets to determine tuition for the 2022–23 year.
Our plan is to send Enrollment Contracts in January. If you have not completed your FAST information, you will not receive your enrollment contract at that time.

(By) April 15, 2022: Upload your 2021 Federal and State tax returns to FAST, including all schedules and W-2s.
Frequently Asked Questions

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

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

Q: How is the financial need determined?

A: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.

Q: Is Financial Aid automatically renewed each year?

A: 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.

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

A: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.

If your child is not currently enrolled at Greensboro Day School, you must first apply for admission prior to applying for financial aid. The financial aid application will not be reviewed until the applicant has been accepted and offered a space.

Greensboro Day School develops the intellectual, ethical, and interpersonal foundations students need to become constructive contributors to the world.