Scholarships and Financial Assistance
Episcopal Day School is deeply committed to making an excellent education available to qualified students and to ensuring that the school continues to attract a diverse student body. The school awards financial aid grants based on demonstrated family financial need. The amount of financial aid is contingent upon the availability of funds in the school’s financial aid budget.
Episcopal Day School is also committed to providing for the fair and equitable distribution of financial aid funds. The school seeks a partnership with families who will make an EDS education a high priority in their budgeting of financial resources. With the assumption that the student and his/her family receive the benefit of an independent school education, Episcopal Day School believes that the student’s family, not the school, should be the primary source of financial support for the student. The student’s family includes non-custodial separated or divorced parents.
Episcopal Day School does not discriminate on the basis of race, color, sex, religion, or national origin in the administration of its financial aid program.
FINANCIAL AID GRANTS Financial aid grants are made to families with demonstrated family financial need. Grants are made for one year to students in good academic standing, and applications for financial aid must be renewed each year. Eligibility for aid is determined by Episcopal Day School’s Financial Aid Committee based on the Financial Aid Assessment as computed by EDS and TADS and as verified by a copy of the family’s current federal income tax return. In evaluating this information, the school’s Financial Aid Committee takes into account the number and ages of children in the family attending tuition-paying schools, additional dependents, and all sources of income, debts, and expenses.
All families are expected to pay a portion of tuition expenses, and grants will not be awarded in excess of demonstrated family financial need. Grants do not cover expenses over and above tuition such as uniforms, lunches, and school supplies.
SEPARATED OR DIVORCED PARENTS The Financial Aid Committee will analyze all of the elements of the application and take into consideration the recommendation of TADS for Financial Aid. Certain difficulties may arise in evaluating financial aid applications filed on behalf of students with special family circumstances. Financial aid is based on a family’s ability to meet the cost of an education at Episcopal Day School; therefore, it is necessary to consider the financial resources of both natural parents in cases where separation or divorce has taken place. Although the custodial parent (the parent with whom the applicant resides) and spouse (if applicable) are considered to be the student’s primary family, the non-custodial parent and spouse (if applicable) must complete a Financial Aid Assessment. The school will not be bound by the assertion of one parent that he/she is not responsible for educational expenses. If this information is not available at the time the application is evaluated, it may cause an arbitrary assessment of financial need to be made by the school. This may result in a lesser award, or no award at all. If a non-custodial parent refuses to comply, the Financial Aid Committee will determine if the family will be considered for financial aid.
It is the responsibility of the custodial parent to see that the non-custodial parent receives, completes, and returns the Financial Aid Assessment with TADS. Failure to do so could limit the amount of aid granted because the Financial Aid Committee would be required to make its decision with incomplete data.
The following policies apply to separated/divorced parents:
1. The non-custodial parent must complete a Financial Aid Assessment. EDS will issue a fee waiver for the non-custodial parent.
2. A copy of the divorce decree may be required.
CHILDREN LIVING WITH OTHER RELATIVES OR NON-RELATIVES In situations of couples that are living together but are not married, the Financial Aid Committee will require that both parties information be on the Financial Aid Assessment. If the child is from a former marriage of either party, a Financial Aid Assessment will also be required of the non-custodial parent and spouse (if applicable).
In situations where the child resides with other relatives, such as grandparents, aunt/uncles, or cousins, the application will be reviewed on an individual basis. If the child’s parents are claiming the child on their tax return, the parents must complete the Financial Aid Assessment. If another family member has legal custody, the Financial Aid Assessment will be required of the custodian, using his or her financial information. A copy of proof of custody is required.
FAMILIES WHO OWN A BUSINESS AND/OR FARM Parents who own a business and/or a farm are required to submit copies of their current business tax return. The Financial Aid Committee may request other relevant information such as a cash flow statement and balance sheet.
There will not be any consideration of ordinary business or rental depreciation or loss in calculating financial need.
For a limited partnership, the parent must submit copies of the partnership return and K-1s.
The Financial Aid Committee reserves the right to request additional information deemed necessary for processing the application.
PARENTS WHO DO NOT WORK In fairness to two-income applicant families, EDS will add $15,000 to a non-earning spouse’s income since that parent chooses not to work for an income. Exceptions may be granted for spouses staying at home with pre-school children, and/or caring for a disabled or critically ill child, parent, or grandparent.
STUDENT WITH A TRUST FUND If a student has assets in a trust fund, the parents must furnish a copy of the trust agreement to the Financial Aid Committee. Parents are assured that all information submitted will be kept in strictest confidence and that this information will not be shared.
HOW IS AID DETERMINED? TADS uses a formula widely accepted by independent schools to analyze family financial need. Financial need is determined by taking into account a number of variables such as family income, assets, number of children, other tuitions, expenses, and debts.
Based on the information provided by parents in the Financial Aid Assessment, TADS provides Episcopal Day School with a preliminary estimate of a family’s ability to contribute to educational expenses. The school’s Financial Aid Committee reviews this information, federal income tax returns, and W-2 forms, and makes the final determination, factoring in additional pertinent information. If you feel other written documentation would give insight into your financial picture, you may submit a Monthly Cash Flow Report. (link the cash flow report here)
Neither faculty nor trustees are made aware of financial aid information. All financial records, requests, and grants are kept in strictest confidence by the Financial Aid Committee, and the school requests that the recipient keep all awards confidential.
Any misrepresentation of information in the financial aid application process will result in cancellation of any financial aid awarded by the school.
1. Gather your information and documents. Click here
for a list of everything you need.
3. Click on ‘Financial Aid Assessment’ to begin.
4. Complete the online Financial Aid Assessment form with payment of the $34 nonrefundable processing fee.
5. Upload, mail, or fax supporting documents according to instructions on the online form.
6. Click here
to electronically sign the Memorandum of Understanding Regarding Financial Aid Requests
For questions during the online application process, you may reach TADS at 800-477-8237, Monday through Friday, 8:00 a.m. to 8:00 p.m. central time. TADS staff are also available through live chat at www.mytads.com and email at firstname.lastname@example.org.
For other questions regarding the application process for financial aid please call either Debbie Wren at 706-733-1192 ext. 17 or Karen Lilly at 706-733-1192 ext. 12.