Frequently Asked Questions about Financial Aid
How do I apply for financial aid?
In order to receive York Country Day’s financial aid packet, check the appropriate box on the back of the school application or call the admission office and ask for a financial aid packet.
Who will see my personal financial information?
Parent’s Financial Statements are filed with School and Student Services by NAIS. SSS is a secure national clearinghouse that processes financial aid for many independent schools. At York Country Day, the Admission Assistant will review your information to make sure it is complete. It will then be reviewed by the financial aid committee made up of the Director of Admission, the Head of School and the CFO of York College. All personal information stored at Country Day is kept in a secure locked location.
If I apply for financial aid, will it affect my child’s chances of admission to the school?
Applying for financial aid will not affect your child’s chances of admission to the school. The financial aid committee and admission committee are two different groups. The admissions committee reviews every applicant in terms of their academic preparedness and fit for the community without any consideration of the family’s financial status.
How much will it cost me to apply for financial aid?
SSS by NAIS does charge a processing fee for each Parent’s Financial Statement. Families that complete their Parents Financial Statement online will pay $39 for SSS to process their applications and provide a copy to York Country Day. Families that complete the paper Parents Financial Statement and return it to SSS for processing by mail, will pay $51 to process their applications. If the fee causes a financial burden, please contact the Admission Office. York Country Day has a limited number of fee waivers available to families.
If my spouse and I are divorced or separated, do we both need to file Parents Financial Statements?
York Country Day expects parents to contribute to the educational costs for their children to the full extent they are financially able. This principle applies to all parents, even those who are separated or divorced. Both parents are expected to file all of the necessary forms and to comply fully with all of the guidelines and requirements of the aid process. Thus, tax returns and forms are required of all parents. The custodial and non-custodial parent must each fill out the SSS Parents Financial Statement. Re-marriage of either natural parent creates a new family unit with new relationships, but since the parents still have a parental obligation, the income and assets of the entire family unit (including new family units and step-parents) are viewed as relevant for the purposes of calculating a family's level of need. York Country Day considers the obligations of the parents to their new family situation in determining the award, but will not allocate the award on a proportional basis among the families. The responsibility for communication and payment lies with the custodial parent.
Will an income be calculated for me if I have school age children and choose not to work?
York Country Day expects families to do their utmost to provide for their child’s education. Where one parent chooses not to work and has children who are in school full-time, the Financial Aid Committee will re-calculate need using an imputed, minimum income for the non-working parent. Note that this policy does not require the parent to work. It only attempts to adjust the level of need by accounting for the minimum income that the parent could earn if he or she chose to return to work. If a parent can document that he or she is disabled or otherwise unable to work (caring for an aged parent, for example), this policy would not apply.
If my child has a College Fund, will I be expected to use money from that fund to pay for their Country Day education?
College funds held in the student’s name are considered student assets and are treated accordingly. The calculation is based on present value of the fund and divided by student’s years remaining in school, plus four years of college. While it may not be possible for a family to tap the principal of such funds, the existence of the funds means that more of the family's current income is available for tuition.
I file my taxes late or get an extension, how will this affect my financial aid decision?
York Country Day’s financial aid committee will not review files without all required documents. Since awards are given on a first come, first served basis, it is in your best interest to file the necessary documents with SSS by the required deadline.
I have multiple children at tuition charging schools. Will tuition paid to other schools be taken into account?
SSS does consider the amount of tuition parents must pay for all students in their calculation. York Country Day does expect that, if available, parents will apply for financial aid at the other tuition charging schools their children attend.