Financial Aid Policies
All financial aid awards are need-based, calculated solely on demonstrated financial need. Admission decisions are made separately from decisions regarding financial aid. Awards are determined by the Financial Aid Committee (FAC), a small group appointed by the Board of Trustees. In determining awards, the Committee relies upon the expected family contribution as calculated by Blackbaud Financial Aid Services, an outside service providing financial assessment information to our School), the family’s submitted tax returns, and any special financial considerations communicated by the family. Final aid decisions are based on the Committee’s assessment of the family’s need and the budgeted funds available. Please be aware, there is always a greater demand for aid than there are available resources. Financial Aid is not available to nursery families unless there are siblings in MAK thru Grade 12 within the School.
Financial aid must be applied for annually. While the School cannot guarantee the same level of financial support beyond any single year, the goal is to continue offering an award consistent with a family’s demonstrated need whenever possible.
Information related to financial aid is kept in strict confidence, and students receiving assistance are not held to different academic or behavioral standards. The School allocates financial aid systematically, with priority given first to returning students, followed by new students. Please note that in order to be considered for financial aid, the payment of open tuition balances must be current. While families requesting assistance must submit a completed student contract, this contract is not binding until a decision has been reached regarding their financial aid application.
Appeals of financial aid awards should be made in writing within fifteen days of the initial award letter and addressed to The Waldorf School, Attention: Financial Aid Committee. The appeal letter must include additional information and/or describe special circumstances occurring since the submission of the original application. An interview may be arranged by a member of the Assistance Committee to fully understand the family’s financial situation.
Applying for Financial Aid
For new families, we encourage you to apply for financial aid, if eligible. Once all the paperwork is submitted, the Financial Aid Committee (FAC) will decide on an award based on need and the funds available.
For returning families, the deadline for submitting financial aid applications and supporting documentation is April 1st. Given the increasing demand for need-based support, it is imperative that returning families meet the April 1st deadline to avoid significant penalties. A 20% penalty will be assessed against any award where either the financial aid application or the supporting documentation is received after April 1st, with an additional 20% for every late month thereafter.
The following supporting documentation must be submitted to Blackbaud Financial Aid Management (via fax, scan or mail–please do not send documents directly to the school) for your application to be considered complete:
- For current families, we request the most recently-filed tax forms, and for newly applying families, the two most recent tax forms
- W-2’s from each job held by household members
- Most recent pay stub from each job held by household members
- All corporate, partnership, and trust forms if a household member owns 20% or more interest in a corporation, partnership, or trust
- 1099/1099G if applicable
Requests for financial aid are reviewed only after the enrollment contract and appropriate deposit have been received. Should the amount of assistance awarded be insufficient to meet a family’s anticipated need, the student contract may be withdrawn and the deposit refunded for up to 30 days after notification regarding the financial aid award.
Important note regarding divorced, separated, or never-married parents: It is the School’s position that both parents retain the obligation to contribute to the education of their child(ren), whether or not there is a legal agreement between them to do so. Therefore, the School considers the financial situation of both parents and requires that each complete and submit a Blackbaud Financial Aid Application, along with the appropriate tax forms and schedules.