The Germantown Friends School Financial Aid Committee determines financial aid grants for current and newly accepted families who have applied for financial aid. Financial aid grants are determined equitably and consistently according to demonstrated need as there are no merit-based scholarships at GFS. The Financial Aid for School Tuition (FAST) program provides a need-based financial analysis for the Financial Aid Committee in addition to a recommended award amount that further informs the Committee’s review. All information received from FAST is kept confidential.
Award decisions are based on family income, all family assets, including residence(s), retirement savings, other real estate holdings, stocks, bonds, equities, children’s savings, 529s, etc., and family liabilities. Home equity and retirement savings are considered as assets, and capital gains are considered as income. Child support is considered an expense to the payer and income to the payee. If able, all parents of school-aged children are expected to work towards the cost of tuition. An income of $25,000 may be imputed to a non-working, fully able adult with school aged children. Education costs for adults or adult children are not allowed expenses, and we do not support a parent’s voluntary reduction of income with financial aid.
Tuition costs increase at an average of four percent each. If a family’s income does not change significantly from one year to the next, we attempt to maintain grant amounts for students as they move through the school, striving to award the same percentage of aid to tuition from one year to the next.
GFS offers over $4 million of aid each year to students in grades K-12. However, we still are unable to meet the need of all of our qualified applicants. Therefore, we offer aid to current families first, and then review the applications of newly accepted families.