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.
The Financial Aid budget cannot meet all of the demands for aid, therefore some aid requests will be put into a Financial Aid Waitlist. In this case, do not submit the non refundable enrollment deposit and Enrollment Contract. Offers of admission will be extended until your status on waitlist has been resolved. This could occur as late as the spring or early summer, when a current aid recipient declines an aid award or decides to withdraw from GFS, thus freeing those aid dollars for reallocation to someone on the Financial Aid Waitlist. We do not rank the Waitlist for aid, as reallocation of declined aid funds is dependent upon the specific grades where space is available or already offered for enrollment, and the specific amount of aid needed by those on the Financial Aid Waitlist.
- Financial aid award letters for new and current families are mailed shortly after February 1, 2020.
- Acceptance of the award is indicated by completion and return of the signed Reenrollment and/or Enrollment Contract(s), submission of non-refundable deposit(s) by February 8, 2020, for current families (including those with a newly-accepted sibling); and by March 1, 2020, for new families.
The non-refundable enrollment deposit(s) are credited to the upcoming year’s tuition balance.
- Reconsiderations of aid awards are available, but only if all tax documents have been submitted to FAST and you have new financial information that was not part of the Committee’s first review. To be considered, submit a Letter of Reconsideration that details the new financial information and address it to the GFS Financial Aid Committee. Send it to Chris Breña, Director of Financial Aid, firstname.lastname@example.org.