Applying for Financial Aid
A Guide for Prospective Parents
FACTS Grant & Aid is a financial aid services provider that many independent schools across the country, including The Grammar School, use to help assess a family’s ability to pay school costs. FACTS helps schools make objective and equitable financial aid decisions.
The information you provide this service is the cornerstone of your financial aid application. When you submit an application, you are granting FACTS permission to analyze your income, expenses, liabilities, and family assets in order to estimate the amount you can contribute to school expenses. They send their estimate to our Financial Aid Committee, which consists of the Head of School, Business Manager and Director of Admissions. The work of this Committee is held in the strictest confidence. The Committee uses the estimate received from FACTS as a starting point to determine your family’s financial aid award, while also taking into consideration the school’s budget and financial aid policies.
Financial Aid Application Process for 2017-18
Prospective families should make an application for financial aid during or shortly after submitting an admissions application to The Grammar School by accessing the FACTS service. Applying for financial aid does not influence the decision of The Grammar School to accept a student. For over 70% of families applying for admission to The Grammar School, applying for financial aid is just another step in the process.
Financial Aid awards will only be made when:
- an applicant is accepted to The Grammar School;
- if a family qualifies for need-based financial aid as determined by FACTS and The Grammar School.
- All families applying for aid must complete this application.
- In the event that a student’s parents are separated, divorced or remarried, both parents are required to file an application.
To ensure a timely and equitable award, families should keep in mind that FACTS requires financial documents. These documents must be uploaded to your FACTS user profile. They are:
- Signed IRS 1040 and all schedules;
- Copies of your W-2’s and 1099’s;
- Forms 1065, 1120-S and K-1 Schedules (if applicable)
Once the application is complete it will be reviewed by the Financial Aid Committee and an award determination will be made and communicated to the applicant.
If parents find that the financial aid offer is insufficient, they have two weeks to submit a request for reconsideration in writing to the Director of Admissions.