Who is Eligible for Financial Aid?
We provide nearly six million dollars in financial aid assistance annually. All financial aid is provided as grants, so there are no loans to pay back. Financial aid packages also cover expenses beyond tuition, like computers, books, and athletic equipment (please see below for more information about these additional benefits).
If you feel that you need financial assistance for your child to attend Concord Academy, we encourage you to apply. All financial aid funds are disbursed on March 10, so we are not able to consider financial aid applications that are submitted after the January 15 deadline. Families who anticipate needing financial aid at any time during their child’s tenure at Concord Academy should apply for financial aid when applying for admission.
Please note that the above information is provided for general information purposes only. Many factors (family size, sibling tuitions, assets, home equity, etc.) are considered in addition to household income when determining financial aid.
Additional Financial Aid Benefits:
Students who receive a financial aid grant also have access to a variety of resources designed to make their experience as equitable, rewarding, and productive as possible. Those resources include:
Bookstore/Activities Account Grant
A Bookstore/Activities Account Grant of $1,150 (for day students) or $1,550 (for boarding students) is offered to help defray the cost of additional expenses such as books, class fees, standardized testing, class rings, athletic equipment, student activities and entertainment, fundraisers, and house snacks. This grant increases each year.
Purchasing a Computer or Tablet
Students who wish to purchase their own computer or tablet for school use will be eligible to receive a one-time grant from the financial aid fund to help defray this cost. The reimbursement is up to $900 and is related to the percentage of the tuition grant.
School Supplies
Various school supplies are available during the first school days of each semester for financial aid students. There is no charge for these supplies.
Travel Opportunities
Financial aid is available for one trip during a student’s career at CA, such as a service trip in June or a language trip in March. These trips typically have a minimum family contribution of $200-$500.
Miscellaneous
All students receiving financial aid have access to the following benefits at the same percentage as their tuition grant: music lessons, tuition refund insurance, and academic tutoring and neuropsychological testing approved by the Academic Dean.
Supplemental Benefits
Students who receive a financial aid grant covering 96% or more of tuition receive three additional benefits: a monthly spending stipend of $80, support for travel home for major school breaks (Thanksgiving, winter break, and spring break), and a family travel/lodging reimbursement to attend the student’s first year Family Visit Weekend and the senior year chapel talk.
Financial Aid Frequently Asked Questions
We have tried to provide helpful answers below to the most frequently asked questions about financial aid. If you have more questions, we would be happy to answer them. You can also watch this video on financial aid at CA to learn more.
How is financial need determined?
The Clarity Financial Aid Application looks at 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 Concord Academy’s financial aid policies to determine what a family may be asked to contribute to educational expenses.
What if the fees associated with the financial aid application are a hardship for my family?
Fee waivers will automatically be applied by Clarity for families who meet certain income criteria.
Is the financial aid in the form of a grant or a loan?
All financial aid awards are grants and do not require repayment. Grants range from $1,000 to the full cost of tuition.
How are financial aid applications handled for families with divorced or separated parents or parents who have never been married?
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 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, John McGarry, with any questions or concerns about this topic at (978) 402-2253 or email john_mcgarry@concordacademy.org.
When will we be notified if we have received an award?
If a family’s financial aid application is received by the Financial Aid Office 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.
Will my financial aid application be confidential?
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.
Does CA offer any academic, artistic, athletic, or merit scholarships?
CA does not offer any merit-based scholarships. All financial aid is awarded based on a family’s demonstrated financial need.
Is financial aid available to international students?
No. The financial need assessment used by Concord Academy is based on the United States income taxation and cost of living systems. Concord Academy is only able to consider applicants for financial aid if the applicant is a US citizen or permanent resident holding a green card and if all parents file US income taxes.
What if one parent in our household is not working?
Our 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 understand that Concord may assign an income for a non-working parent in determining a family’s financial need.
Are students receiving financial aid required to work on campus or expected to maintain certain performance standards?
Financial aid awards consist primarily of grants for which no repayment or ‘work/study’ arrangement is required. CA expects the same level of commitment and participation from all of its students, regardless of their financial situation.
If we receive financial aid this year, can we count on receiving it each subsequent year?
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.
If we didn't receive financial aid this year, can we apply for it next 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 no pre-existing budget exists to fund these situations. It is our expectation that families who begin at Concord Academy 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 directly.
Can we appeal our financial aid award?
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:
• a detailed monthly or annual budget showing all income and expenses
• a statement of changes, if any, in financial circumstances since the financial statement was completed
• detailed explanations, if any, of unusual expenses and/or debts that were not fully explained on the original financial aid application
• a copy of the most recent tax return
To return to the main financial aid web page, please click here.