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| Goals of the Financial Assistance Program |
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A Country Day education is a
lifelong gift, but rising tuition costs
often exceed a family’s budget. To
offset rising costs, we offer families
need-based financial awards for
qualified students. Accepted
students are admitted to GCDS
regardless of financial need and
come from a variety of cultural and
ethnic backgrounds with academic
and personal qualities that best fit
our mission. Our Financial
Assistance Program’s goal is to
maintain a balanced, diverse school community.
We encourage families experiencing financial difficulties to
contact us to discuss school expenses. However,
as a non-profit institution with limited resources, the school does not view its program as
the primary source for funding tuition
costs.
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GCDS expects that applicants to
the Financial Assistance Program
have utilized all other sources of
tuition support such as Sallie Mae
and Tuition Pay loans and other
loan sources including family
members.
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We assume applicants have also
eliminated other non-essential
expenses such as Country Clubs or
vacation plans or vacation homes.
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We encourage families to utilize the
K-12 Private School loans offered through
Springstone Financial, LLC.
Information is available at their website (
www.yourtuitionsolution.com).
We also offer families the option of an interest-free monthly payment plan. Two companies
offer this program. Each requires a small enrollment fee. More information is available
online at Sallie Mae and
Tuition Management Systems.
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| Where can I find more information? |
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GCDS encourages parents to read our literature,
and contact us with questions (203-863-5610 or
admissions@gcds.net).
Please also visit the Admission and Financial Aid
section of the NAIS (
National Association of Independant Schools) website,
or visit sss.nais.org, where
information is available in English and Spanish. Families who
have applied before will see a different, more user friendly look
with clear step-by-step instructions. You may begin to apply starting
on November 1, 2010 for the 2011-2012 school year.
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| How is the amount of Financial Assistance determined? |
Parents are responsible to pay tuition to the extent they are able and to look to all of their own resources before applying for financial aid.
- GCDS awards need-based
financial aid to pay school
expenses that exceed a
family’s ability to pay.
- GCDS uses a standardized,
fair, and equitable “need
analysis” to determine a
family’s expected contribution.
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- Aid is given outright and does not
need to be repaid, although the
school appreciates repayment if a
family’s financial circumstances
change.
- GCDS determines the amount of a
financial aid award based not only
on a family’s expected
contribution, but also on the
availability of our financial aid
funds.
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| What important facts should I know about the Financial Assistance process? |
- Before enrolling your child, it
is important to fully
understand what
costs are and are not
covered by our program.
- At GCDS, all applications for
financial assistance are
confidential. Neither teachers
nor other parents know
which students receive
assistance.
- Admissions, Re-enrollment, and Financial Aid are three wholly separate processes. Financial aid applications have no bearing on the Admissions process or re-enrollment decisions.
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- There is no income “cut off’ to
qualify for Financial Aid. Each
family’s unique situation is
assessed carefully by the
GCDS Financial
Assistance Committee.
- Families must be U.S. citizens or
legal residents of the
United States.
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If a parent is unemployed or works
less than ½ time (with a school-
aged child), a potential salary
based on education and previous
work experience will be estimated
in our financial aid calculations.
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| How is Financial Assistance Funded? |
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GCDS receives no federal, state, or local government funding for our financial aid programs. However, as an indication of the importance of this program, the Board of Trustees allocates over 13% of our annual budget towards the program. To achieve this goal, we rely on funds donated by generous members of our extended community including current and past parents, alumni, grandparents, and friends, as well as
income from endowments, and a percentage
of each family’s tuition payment.
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| When and how do I apply for Financial Assistance? |
Applications for Financial Assistance from both prospective and current families for the 2010-2011 school year are due December 15, 2010.
We will accept applications on a rolling basis after that date, but funds may not be available. If a family qualifies for financial assistance but funding is not available, they may be placed on a GCDS Financial Assistance Wait List.
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| Steps to begin the Financial Assistance Application |
Deadline for 2011-2012 Academic Year: December 15, 2010 (Applications accepted on a rolling basis beginning January 1, 2011. (See statement above)
- You may apply for financial aid at GCDS either online by visiting sss.nais.org or by filing a Parents’ Financial Statement (PFS) and mailing it to the School and Student Service for Financial Aid(SSS). Applications will be available mid-October from the GCDS Admissions Office (Upper School Building) beginning November 1, 2010.
Application material is available in both Spanish and English. A minimal fee is required to submit the application. A limited number of fee waivers are available. Please contact Suzanne Howard at showard@gcds.net.
The GCDS School ID number for the SSS (School Scholarship Service) is: 3580
- Send the GCDS Director of Financial Assistance a copy of the form submitted to the School Scholarship Service (SSS).
- Submit directly to the GCDS Director of Financial Assistance A copy of your federal tax forms (1040) for the current and previous years (2009 and 2010) including schedules and W-2 statements. Please send this information to the address below:
Director of Financial Assistance
Admissions Office, Upper School
Greenwich Country Day School
P.O. Box 823 Old Church Road
Greenwich, CT 06836-0623
(203) 863-5611
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Upon receipt of all the required information, the GCDS Financial Assistance
Committee will determine the availability of a financial grant. Factors include:
- the number of children in the family
- other financial obligations including other tuitions for additional dependents
- the cost of housing
- all assets and sources of income for both the parents and child.
Grant Notification: March, 2011 for the 2011-2012 academic year.
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