Financial Aid FAQs
How is my family’s financial need determined?
The
School and Student Service for Financial Aid (SSS by NAIS) processes each submitted Parent Financial Statement (PFS) and provides an analysis of a family’s finances. In its analysis, SSS suggests a portion of discretionary income that a family can contribute towards the cost of a child’s education. The George School Financial Aid Committee considers SSS’s recommendation in combination with income/earnings statements, IRS 1040 forms, and any other submitted financial documentation.
The family contribution determined by SSS is a starting point for the Financial Aid Committee. After considering any extenuating circumstances, together with George School’s financial aid policies, the committee makes a final award decision. Financial aid awards are confirmed and credited to accounts only after we have received a current year’s IRS 1040 form, by May 1.
RETURN TO TOPIf my child is accepted to George School, does that mean that we will automatically receive financial aid? A student’s acceptance to George School is not related to or determined by his/her family’s ability to pay tuition. Therefore, a student is accepted to George School first, and then the Financial Aid Committee reviews the family’s financial aid application. It is possible that a student may be admitted and then the family either does not qualify for aid or is placed on the financial aid waiting list.
RETURN TO TOPWhat are the types of financial aid available to our family? George School awards financial aid in the form of a grant that does not need to be repaid. Students may also apply for a limited number of merit scholarships. George School does not offer any educational loans.
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I have submitted a financial aid application. What are the possible outcomes?
Financial Aid Grant – The Financial Aid Committee has determined that your family qualifies for financial aid and is offering a financial aid grant.
Financial Aid Waiting List – Your family qualifies for financial aid as determined by the financial aid process, however, George school does not have enough funds to meet your demonstrated need.
Does Not Qualify – Your family does not qualify for financial aid as determined by the financial aid process.
RETURN TO TOPIf I qualify for financial aid, will I receive a similar aid package in future years? Families are required to complete the financial aid process each year they are requesting aid and the Financial Aid Committee makes a new assessment each year. Generally, if your family’s financial situation remains the same and you meet all of the deadlines, you can expect to receive a similar level of financial aid in future years.
RETURN TO TOPWho receives financial aid at George School?
Each year George School distributes approximately $6.5 million in financial aid to roughly 47 percent of the student body. The average financial aid grant is approximately $26,600.
The average
day student financial aid grant is nearly $20,000, but ranges from $1,000 to full tuition. Incomes of day student families who qualify for aid range from less than $20,000 to more than $100,000.
The average
boarding student financial aid grant is about $32,000, but ranges from $5,000 to full tuition. Incomes of boarding student families who qualify for aid range from less than $20,000 to more than $200,000.
RETURN TO TOPWhat are our chances of receiving financial aid?
Parents often ask, “What is the cut-off point for my income?” There isn’t one. If you think the cost to send your child to George School exceeds your ability to pay the tuition, then you should apply for financial aid. Every family has varying circumstances that affect their ability to pay for private education. These factors include family size, number of children attending tuition-charging schools, assets, and debts.
RETURN TO TOPWhat about divorced or separated parents or never married parents?
George School expects that separated or divorced parents will contribute to the cost of their child’s education regardless of whether or not there is a legal obligation for them to do so. The financial aid process considers all resources that might be available to the student. If either parent remarries, the Financial Aid Committee will take into consideration the obligation of that parent to his/her new family and the resources of the stepparent, given the obligation of the stepparent to his/her own children. Therefore, both parent and stepparent must submit financial information to our office.
RETURN TO TOPAre international students eligible to receive financial aid? There is limited financial aid available for students who are not United States citizens. These need-based financial aid grants cannot exceed half the cost of tuition.
RETURN TO TOPAre there other sources of financial aid? Some community, religious, and not-for-profit organizations offer scholarships. Applicants who are Quakers should seek additional funds from their monthly and yearly meetings. Prospective boarding students who show high achievements in academics and community activities may apply for one of four $15,000
Anderson Scholarships.
RETURN TO TOPWhat should I do if my financial situation changes?
Contact the Financial Aid Committee in writing to notify them of changes in your family’s financial picture. Please send an explanation and documentation to: Financial Aid Committee, George School, PMB 4460, Newtown, PA 18940-2414.
RETURN TO TOPWho will see my financial information?
All materials are kept confidential and are reviewed only by members of the George School Financial Aid Committee. We will not release any documents you submit without your written permission.
RETURN TO TOPWho should I call if I have questions?
Please feel free to call the financial aid coordinator at 215.579.6546 or the financial aid director at 215.579.6522 with questions or concerns regarding the financial aid process.
To check receipt of financial aid items or for questions about the Parent Financial Statement, please call SSS at 800.344.8328 (Monday through Friday from 9:00 a.m. to 8:00 p.m. EST and Saturday from 9:00 a.m. to 4:00 p.m. EST).
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