One of the founding tenets of a Friends school is inclusivity. Towards that end, and believing in the benefits of a culturally diverse community, Friends School of Wilmington commits a percentage of revenue each year to assist families who might otherwise be unable to attend.
Approximately one-quarter of FSW families receive financial assistance and most families pay at least 50% of the annual tuition. Funds for Financial Aid come from the pool of tuition and fees paid by all our families. FSW does not have an endowment, nor do we receive any other outside funding.
It is important to recognize that even full tuition does not cover the full cost of educating a child at FSW. The cost for all students is supplemented by funds from the operating budget, the Annual Fund, and funds raised by the PTO.
Decisions regarding Financial Aid are independent from the admissions and/or re-enrollment processes although they are considered concurrently. Decisions regarding financial assistance are highly confidential; teachers are not involved in the process. We ask that families receiving assistance also maintain confidentiality regarding assistance they receive.
FSW uses a trusted third party, FACTS Business Solutions for Education (FACTS), to analyze the family’s financial situation based on income, family size, expenses, liabilities, and special circumstances. Families apply to FACTS on line and provide them with all supporting documents.
Financial aid is based on information provided by the applicant family and the need as determined by FACTS. Application for financial aid is required annually. In the allocation of funds, families who are already enrolled at Friends School receive priority, if they apply before the stated reenrollment deadline.
Families who are already enrolled and need financial assistance with tuition:
- Will receive, via email, a Financial Aid application packet from the business office in order to reapply.
- Are encouraged to file their taxes early since the most current tax returns will be required.
If this deadline is met, the Business Manager will inform families of Financial Aid determinations as early as April. If a returning family misses this deadline, their request for Financial Aid will be considered with the requests of newly enrolling families and funds may be limited.
Newly enrolling families or families not currently receiving Financial Aid, should:
- Request a Financial Aid packet from the business office.
After your Financial Aid form has been received and the online application completed, your request will be considered. You may be asked to meet with the Business Manager to discuss the particulars of your situation. Once a determination is made, you will receive a letter outlining the amount of Financial Aid Friends School is able to offer and the balance for which the family will be responsible. In order to receive the award, you must sign and return a copy of the letter accepting the award by the deadline stated in that letter. If you do not accept the award by the stated deadline, the funds may be awarded to another applicant.
If your financial needs should change during the year, you should contact the Business Manager. Depending on the availability of funds, Friends School may be able to provide Financial Aid, or adjust your award.