We address the most frequently asked questions about financial aid at Concord Academy below. If you have additional questions, please contact the director of financial aid.
The Clarity financial aid application considers family income, expenses, assets, and debts, as well as additional factors including family size and the number of children in the family attending tuition-charging schools, to determine a level of financial need. The Financial Aid Committee at Concord Academy will use the Clarity report in conjunction with CA’s financial aid policies to determine what a family may be asked to contribute to educational expenses.
Clarity will automatically apply fee waivers for families who meet certain income criteria.
All financial aid awards are grants and do not require repayment. Grants range from $1,000 to the full cost of tuition.
All parents retain the obligation to contribute what they can afford to the education of their children, regardless of any divorce or other agreements stating otherwise. In most cases, the Financial Aid Committee will make an award only after considering the financial resources of all parents. Therefore, if both parents are involved in the child’s life, Concord Academy requires that each parental household complete the full financial aid application process. There should be a separate financial aid application to represent separate households. If a parent has no contact with the child, the custodial parent may upload to their Clarity financial aid application a statement from a third party who is aware of the situation in a professional capacity (such as a school official or a member of the clergy), in lieu of financial aid application forms from the absent parent. Please contact the director of financial aid with any questions or concerns.
If the Financial Aid Office receives a family’s financial aid application by the January 15 deadline, a financial aid award letter will be sent with the admissions acceptance letter on March 10. The information can be found in the enrollment contract as well as in an email you will receive directly from the Financial Aid Office.
Yes. Requests for financial aid and all financial information submitted are kept in strict confidence. Only the Financial Aid Office has access to the financial forms you submit, and only the members of the Financial Aid Committee will be aware that you have applied for financial aid.
CA does not offer any merit-based scholarships. All financial aid is awarded based on a family’s demonstrated financial need.
No. The financial need assessment used by CA is based on the U.S. income taxation and cost-of-living indexes. CA is only able to consider an applicant for financial aid if they are a U.S. citizen or a permanent resident holding a green card and if all parents file U.S. income tax returns.
CA’s financial aid program is based on parents financing their children’s education to the extent they are able. We assume that each parent in a family will work if there are no children of preschool age or younger in the household. Parents who are not working should share why that is the case in the comments section of the financial aid application, and they should understand that CA may assign an income for a nonworking parent when determining a family’s financial need.
Financial aid awards consist of grants for which no repayment or work-study arrangement is required. CA expects the same level of commitment and participation from all students, regardless of their financial situation.
Financial aid will be continued at the same level through graduation, provided a family’s need does not change. If a family’s need increases, we will make every effort to meet that need. However, we can only guarantee the level of aid awarded in the previous year. Because awards are evaluated annually, a renewal application must be filed each year.
The Financial Aid Committee will consider applications from returning CA families who have not received financial aid in the past. However, it is unlikely that we will be able to meet the financial need of these families as CA has no preexisting budget to fund these situations. It is our expectation that families who begin at CA paying the full tuition will continue to do so. Full-pay families who suffer a job loss or other unexpected financial hardship are encouraged to contact the director of financial aid.
Families who feel they are unable to afford the net tuition outlined in the financial aid award agreement may request a second review of their financial aid application. In order to initiate the appeals process, the parent should call the Financial Aid Office and prepare the following:
This chart gives a general sense of what families from different income brackets can expect from CA’s financial assistance program. Many factors, including family size, sibling tuitions, assets, and home equity, are considered in addition to household income when CA determines financial aid grants.
| Income Range | Percent of Total Awards | Award Range (Minimum) | Award Range (Maximum) |
|---|---|---|---|
| $0 – $99,999 | 41% | $58,000 | $74,000 |
| $100,000 – $199,999 | 39% | $9,000 | $72,000 |
| $200,000 – $299,999 | 14% | $10,000 | $32,000 |
| $300k+ | 6% | $13,000 | $32,000 |
