In 2000, three pioneering women opened Atlanta Girls’ School. They sought to provide an intellectually challenging, safe, and college preparatory environment specifically designed around the way girls learn best. And they also had a passionate commitment to providing access to this education for girls from a wide variety of socioeconomic and cultural backgrounds. Today, AGS continues to lead the Atlanta independent school community in its inclusive and transparent approach to making an independent school education affordable to families who might otherwise never consider it. Whether through a grant of financial aid or a one-time grant of financial assistance to bridge a difficult time, AGS stands as a model for the future of educational access and affordability.
3254 Northside Parkway NW Atlanta, GA 30327 404.845.0900 atlantagirlsschool.org
AFFORDING AN AGS EDUCATION
FINANCIAL AID PROGRAM
SHOW ME HOW IT WORKS: CASE STUDIES The primary financial responsibility for a child’s education must rest with family. We nonetheless provide need-based financial aid in appropriate circumstances to adjust tuition. The amount of the adjustment is based on a family’s ability to pay. We make two types of grants. A traditional financial aid grant is expected to continue into the future so long as the family has continuing need, the student remains in good standing, and other conditions of the grant are satisfied. In recent times, however, many families who came to the school without aid have experienced temporary reversals due to an unexpected event, such as the loss of a job. In those cases, we have made “one time grants” intended to bridge this temporary reversal. Such grants typically do not renew and are only available to families currently enrolled at the school. We understand that the cost of an independent school education stands as a formidable barrier for many families. Our financial aid program seeks to remove that barrier. Tuition for participants in this program should be expected to range from $5000 to $15,000. Fees, books, uniforms and other costs are an additional expense for families in the program. Families who are actively seeking a girls’ school experience for their daughter but are concerned about affordability should consider applying for financial assistance. While it is difficult to define a typical financial aid candidate, a common thread among families who qualify is a demonstration of both need and financial responsibility in their personal financial affairs.
We note that no candidate will receive aid equal to full tuition. Every family must expect to make a notable financial contribution towards the education of their daughter. These are examples of the types of need-based financial awards families receive at AGS.
A family of four with two students in
independent schools, one at AGS and a boy at another area school. Both parents work full time. They own their home and two cars. Family Income Family Assets
Debts
Award: Family Contribution:
$150,000 $120,000 home equity $5000 in savings $20,000 automobiles (no debt) $300,000 unpaid mortgage $4000 credit card debt $2500 unreimbursed medical costs $8000 $11,200 + fees and expenses
Widowed parent, two children; the second child attends a local public school. Parent is employed full time and owns one car with monthly payments of $250. The family rents an apartment for $1000/month. Family income Family assets Debts
$70,000 $1000 savings $1500 medical costs
Award: Family Contribution:
$14,000 $5200 + fees and expenses
SHOW ME HOW IT WORKS: CASE STUDIES The primary financial responsibility for a child’s education must rest with family. We nonetheless provide need-based financial aid in appropriate circumstances to adjust tuition. The amount of the adjustment is based on a family’s ability to pay. We make two types of grants. A traditional financial aid grant is expected to continue into the future so long as the family has continuing need, the student remains in good standing, and other conditions of the grant are satisfied. In recent times, however, many families who came to the school without aid have experienced temporary reversals due to an unexpected event, such as the loss of a job. In those cases, we have made “one time grants” intended to bridge this temporary reversal. Such grants typically do not renew and are only available to families currently enrolled at the school. We understand that the cost of an independent school education stands as a formidable barrier for many families. Our financial aid program seeks to remove that barrier. Tuition for participants in this program should be expected to range from $5000 to $15,000. Fees, books, uniforms and other costs are an additional expense for families in the program. Families who are actively seeking a girls’ school experience for their daughter but are concerned about affordability should consider applying for financial assistance. While it is difficult to define a typical financial aid candidate, a common thread among families who qualify is a demonstration of both need and financial responsibility in their personal financial affairs.
We note that no candidate will receive aid equal to full tuition. Every family must expect to make a notable financial contribution towards the education of their daughter. These are examples of the types of need-based financial awards families receive at AGS.
A family of four with two students in
independent schools, one at AGS and a boy at another area school. Both parents work full time. They own their home and two cars. Family Income Family Assets
Debts
Award: Family Contribution:
$150,000 $120,000 home equity $5000 in savings $20,000 automobiles (no debt) $300,000 unpaid mortgage $4000 credit card debt $2500 unreimbursed medical costs $8000 $11,200 + fees and expenses
Widowed parent, two children; the second child attends a local public school. Parent is employed full time and owns one car with monthly payments of $250. The family rents an apartment for $1000/month. Family income Family assets Debts
$70,000 $1000 savings $1500 medical costs
Award: Family Contribution:
$14,000 $5200 + fees and expenses
CASE STUDIES
FREQUENTLY ASKED QUESTIONS
Divorced parents with two children; one child in public school and the other wishes to attend Atlanta Girls’ School. Each parent owns a car; the mother owns a home, and the father lives in an apartment. The father has primary custody of both children. Mother has no obligation to pay for independent school under the divorce settlement. Mom’s income
$175,000
Dad’s income
$100,000
Mom’s assets
$50,000 in retirement accounts $50,000 in cash $100,000 in home equity
Dad’s assets
$75,000 in retirement accounts $10,000 in savings
Combined Debt
$60,000 consumer debt $10,000 car debt $500,000 unpaid mortgage
Award:
None. Family does not qualify for financial aid.
If we apply for financial aid, does it affect our daughter’s application for admission? No. We consider an applicant based on her own merit. There is no discussion of a family’s financial situation in admission deliberations.
Will all students eligible for financial aid receive it? Unfortunately, no. AGS has only a limited allowance for financial aid every year and that allowance is regularly exhausted. Every year there are more qualified applicants for financial aid than the number of applicants who can receive an award. There is a waiting list in the event that funds become available, although generally following the admission decisions in April, funds do not become available.
If I qualify for financial aid but do not receive it at the time of my daughter’s application, can I reapply in subsequent years? While it is possible to reapply, the likelihood of receiving aid is remote. The school must be able to maintain stability and equity in financial aid among grades and for previously admitted students receiving aid. Once a student elects to enroll while paying full tuition, the school must rely on that going forward. If a family believes financial aid will be needed in future years, the school expects that the child will not be enrolled for the first year without it. In very limited circumstances involving a temporary need, a one-time grant to a family to help during a difficult time will be considered.
Is financial aid automatically renewed each year? No, a family must reapply for financial aid each year and must qualify again for a grant to be made. Typically, materials are available in early November and must be submitted by mid-January. Who can I contact about financial aid? Contact Angie Harwood, Chief Business Officer, at 404-845-0900 or aharwood@atlantagirlsschool.org.
What doesn’t financial aid cover? Financial aid does not cover lunch, uniforms, books and supplies, travel (though you may apply for assistance with the cost of one required upper school foreign trip), technology, athletic, fine arts and similar fees, and discretionary amounts. These additional fees are estimated on a following page. Families should consider these expenses when considering their ability to afford an AGS education whether with or without financial aid.
CASE STUDIES
FREQUENTLY ASKED QUESTIONS
Divorced parents with two children; one child in public school and the other wishes to attend Atlanta Girls’ School. Each parent owns a car; the mother owns a home, and the father lives in an apartment. The father has primary custody of both children. Mother has no obligation to pay for independent school under the divorce settlement. Mom’s income
$175,000
Dad’s income
$100,000
Mom’s assets
$50,000 in retirement accounts $50,000 in cash $100,000 in home equity
Dad’s assets
$75,000 in retirement accounts $10,000 in savings
Combined Debt
$60,000 consumer debt $10,000 car debt $500,000 unpaid mortgage
Award:
None. Family does not qualify for financial aid.
If we apply for financial aid, does it affect our daughter’s application for admission? No. We consider an applicant based on her own merit. There is no discussion of a family’s financial situation in admission deliberations.
Will all students eligible for financial aid receive it? Unfortunately, no. AGS has only a limited allowance for financial aid every year and that allowance is regularly exhausted. Every year there are more qualified applicants for financial aid than the number of applicants who can receive an award. There is a waiting list in the event that funds become available, although generally following the admission decisions in April, funds do not become available.
If I qualify for financial aid but do not receive it at the time of my daughter’s application, can I reapply in subsequent years? While it is possible to reapply, the likelihood of receiving aid is remote. The school must be able to maintain stability and equity in financial aid among grades and for previously admitted students receiving aid. Once a student elects to enroll while paying full tuition, the school must rely on that going forward. If a family believes financial aid will be needed in future years, the school expects that the child will not be enrolled for the first year without it. In very limited circumstances involving a temporary need, a one-time grant to a family to help during a difficult time will be considered.
Is financial aid automatically renewed each year? No, a family must reapply for financial aid each year and must qualify again for a grant to be made. Typically, materials are available in early November and must be submitted by mid-January. Who can I contact about financial aid? Contact Angie Harwood, Chief Business Officer, at 404-845-0900 or aharwood@atlantagirlsschool.org.
What doesn’t financial aid cover? Financial aid does not cover lunch, uniforms, books and supplies, travel (though you may apply for assistance with the cost of one required upper school foreign trip), technology, athletic, fine arts and similar fees, and discretionary amounts. These additional fees are estimated on a following page. Families should consider these expenses when considering their ability to afford an AGS education whether with or without financial aid.
HOW DOES AGS DECIDE WHO PAYS WHAT? There are six key factors in determining a family’s financial capacity and possible financial aid grant. Here are the factors and some of the typical items considered: 1. INCOME A family’s income includes wages, self employment income, profits of directly controlled businesses (whether distributed or not), interest, dividends, capital gains, and all types of similar income such as alimony, pensions, annuities, unemployment compensation, child support, rent, and royalties. 2. ASSETS A family’s assets include — in addition to the income they earn — real estate, vehicles, bank accounts, investments, trusts of which a student or parent is a beneficiary, retirement accounts, and anything else typically viewed as an asset. 3. EXPENSES AND DEBT AGS expects families seeking to receive financial aid to live a reasonable lifestyle but not an extravagant one. Typical expenses include educational expenses, mortgage payments, medical expenses, prolonged illness costs, past business debts, uninsured disasters, and childcare. Excessive travel or entertainment, vacation homes, private club, or other discretionary spending is generally disregarded in assessing a family’s ability to pay absent legitimate justification of these expenses.
4. FILING STATUS Awards will not be considered unless complete financial information is received from both parents. If parents are separated, divorced or never married, both parents are required to complete the application. It is expected that both parents and appropriate stepparents contribute to the education of their daughter regardless of legal agreements. The school is not bound by the assertion that one parent disclaims responsibility for educational expenses, and both parents must sign the enrollment agreement. The school may seek payment from either or both parents regardless of their private understanding. 5. NON-WORKING PARENT It is expected that both parents will be employed (with appropriate allowance for childcare expenses). If one parent chooses not to work, the school imputes an income of $25,000 to that parent for the purposes of calculating financial aid, and, if applicable, permits an appropriate allowance for childcare costs for any child not of school age. The circumstances of a parent unemployed temporarily while seeking new employment will be considered on a case-by-case basis. 6. NUMBER OF CHILDREN AGS looks for equal commitment to paying tuition for all children in a family, whether attending AGS or another school. Students in college have many more resources available and can take advantage of those resources, such as working, student loans, and scholarships.
2011-12 TUITION AND FEES Tuition . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $19,200 Technology Fee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 750 Estimated Costs Books . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $350 - 600 Uniforms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $350 - 450 Lunch . . . . . . . . . . . . . . Varies with use and selections Athletic/Art Fees . . . . . . . . . . . . . . . . . . . . . . . $50 - 200 Parent Association . . . . . . . . . . . . . . . . . . . . . . . . . . . $50 After School . . . . . . . . . . . . . . . . . . . . . . . . . . . . $15/day
HOW TO APPLY FOR FINANCIAL AID Download Atlanta Girls’ School’s financial aid procedures at http://www.atlantagirlsschool.org/tuition_and_financial_aid Families are encouraged to submit application materials as soon as possible to be considered for financial aid. All application materials must be sent directly to School and Student Services (SSS) by February 18, 2012. Application materials include: the Parent Financial Statement (PFS), IRS form 4506, and Federal income tax returns (including supporting schedules).
HOW DOES AGS DECIDE WHO PAYS WHAT? There are six key factors in determining a family’s financial capacity and possible financial aid grant. Here are the factors and some of the typical items considered: 1. INCOME A family’s income includes wages, self employment income, profits of directly controlled businesses (whether distributed or not), interest, dividends, capital gains, and all types of similar income such as alimony, pensions, annuities, unemployment compensation, child support, rent, and royalties. 2. ASSETS A family’s assets include — in addition to the income they earn — real estate, vehicles, bank accounts, investments, trusts of which a student or parent is a beneficiary, retirement accounts, and anything else typically viewed as an asset. 3. EXPENSES AND DEBT AGS expects families seeking to receive financial aid to live a reasonable lifestyle but not an extravagant one. Typical expenses include educational expenses, mortgage payments, medical expenses, prolonged illness costs, past business debts, uninsured disasters, and childcare. Excessive travel or entertainment, vacation homes, private club, or other discretionary spending is generally disregarded in assessing a family’s ability to pay absent legitimate justification of these expenses.
4. FILING STATUS Awards will not be considered unless complete financial information is received from both parents. If parents are separated, divorced or never married, both parents are required to complete the application. It is expected that both parents and appropriate stepparents contribute to the education of their daughter regardless of legal agreements. The school is not bound by the assertion that one parent disclaims responsibility for educational expenses, and both parents must sign the enrollment agreement. The school may seek payment from either or both parents regardless of their private understanding. 5. NON-WORKING PARENT It is expected that both parents will be employed (with appropriate allowance for childcare expenses). If one parent chooses not to work, the school imputes an income of $25,000 to that parent for the purposes of calculating financial aid, and, if applicable, permits an appropriate allowance for childcare costs for any child not of school age. The circumstances of a parent unemployed temporarily while seeking new employment will be considered on a case-by-case basis. 6. NUMBER OF CHILDREN AGS looks for equal commitment to paying tuition for all children in a family, whether attending AGS or another school. Students in college have many more resources available and can take advantage of those resources, such as working, student loans, and scholarships.
2011-12 TUITION AND FEES Tuition . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $19,200 Technology Fee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 750 Estimated Costs Books . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $350 - 600 Uniforms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $350 - 450 Lunch . . . . . . . . . . . . . . Varies with use and selections Athletic/Art Fees . . . . . . . . . . . . . . . . . . . . . . . $50 - 200 Parent Association . . . . . . . . . . . . . . . . . . . . . . . . . . . $50 After School . . . . . . . . . . . . . . . . . . . . . . . . . . . . $15/day
HOW TO APPLY FOR FINANCIAL AID Download Atlanta Girls’ School’s financial aid procedures at http://www.atlantagirlsschool.org/tuition_and_financial_aid Families are encouraged to submit application materials as soon as possible to be considered for financial aid. All application materials must be sent directly to School and Student Services (SSS) by February 18, 2012. Application materials include: the Parent Financial Statement (PFS), IRS form 4506, and Federal income tax returns (including supporting schedules).
In 2000, three pioneering women opened Atlanta Girls’ School. They sought to provide an intellectually challenging, safe, and college preparatory environment specifically designed around the way girls learn best. And they also had a passionate commitment to providing access to this education for girls from a wide variety of socioeconomic and cultural backgrounds. Today, AGS continues to lead the Atlanta independent school community in its inclusive and transparent approach to making an independent school education affordable to families who might otherwise never consider it. Whether through a grant of financial aid or a one-time grant of financial assistance to bridge a difficult time, AGS stands as a model for the future of educational access and affordability.
3254 Northside Parkway NW Atlanta, GA 30327 404.845.0900 atlantagirlsschool.org
AFFORDING AN AGS EDUCATION
FINANCIAL AID PROGRAM