Financial Aid: Frequently Asked Questions

What is Financial Aid?

Our Financial Aid Program works with families to help them fit the cost of a Denver Jewish Day School education within their personal budget. This award is used to offset the cost of one year’s tuition. It is not a loan and does not need to be repaid. Financial Aid is granted annually and is determined based on defined guidelines established by the Finance Committee.

 

Does Financial Aid cover costs beyond tuition?

No, Financial Aid does not cover other costs such as books, school trips, sports, Before & After school care, etc.

 

Will applying for Financial Aid have an impact on the admission decision for my child?

No. The tuition assistance decision is made independently from admission decisions.

 

Can I apply for Financial Aid before I have applied for admission to Denver Jewish Day School?

Prospective families must apply for admission of new students prior to or simultaneously with submission of an application for Financial Aid. If you have questions about how your family may fit into the program, please feel free to contact Shayna Friedman at sfriedman@denverjds.org or (720) 449-9550. We strongly encourage prospective families interested in the Financial Aid Program to have a conversation with Shayna as they consider Denver Jewish Day School for their children.

 

Is my application for Financial Aid confidential?

DJDS stresses confidentiality in all matters relating to tuition, including Financial Aid. Only Administration personnel directly involved in the review of applications have access to families’ financial information. This information is never shared outside of this small team. We uphold the highest standard of confidentiality in management of each and every family’s case.

Just as we trust that families present a complete and accurate financial profile in their applications, we also trust that families will consider their Financial Aid award to be confidential and avoid sharing any information with friends and family.

 

How does the school determine eligibility for the Financial Aid Program?

Denver Jewish Day School uses FACTS for evaluation of applications. FACTS considers family size, income and other financial resources. DJDS’s Financial Aid team reviews every application processed by FACTS, and will consider certain extenuating circumstances that may affect the family’s ability to pay. View the application here.

More information about FACTS available here.

 

Is my Financial Aid package renewable each year?

We are committed to helping our enrolled students continue at Denver Jewish Day School. Financial Aid is awarded annually and is based on demonstrated need; therefore, families must complete a new application and submit all required documentation to be considered.

 

If I qualified for the Financial Aid Program this year, will I qualify next year?

Our program is designed to provide stability and predictability for families, year over year. Most families in the Financial Aid Program remain in the program throughout their children’s years at Denver Jewish Day School. If your financial profile remains approximately the same from year to year, you will continue to qualify for aid. Some families do experience a positive change in circumstances, and will find that they no longer qualify for assistance. Families apply for assistance annually so that we have the most current and complete picture of overall need.

 

I already have a full-pay child at DJDS, but do not have the resources to pay for a younger sibling. What do I do?

Families often qualify for assistance when younger siblings are admitted to DJDS, so we encourage you to apply for Financial Aid.

 

I am separated/divorced from my child's other parent. How do we access the Financial Aid Program?

For the best educational experience of each child, Denver Jewish Day School expects that both parents (if at all possible) will participate fully – academically and financially – in their child’s education. DJDS requires both parents to complete an application for tuition assistance. We are happy to assist both parents, together or individually, in understanding how the program works for divorced or separated parents.

 

We are two parents in a one-income family. How does this affect our tuition assistance package?

If all students are elementary school age or older, both parents are expected to contribute to tuition expenses. Should one parent choose not to work, program guidelines impute an income for the non-working parent. Exceptions may be made in cases where responsibilities (such as medical care or elder care) effectively limit a parent’s ability to commit to regular work.

 

What deadlines for the Financial Aid Program application should I be aware of?

The Financial Aid Program application deadline is Wednesday, February 15, 2017, with supporting documents due NO LATER than February 15, 2017..

IMPORTANT DATES

November 15, 2016: FACTS Application opens

February 15, 2017: Deadline to complete FACTS Application and provide supporting documentation.

Early to mid-March, 2017: Financial Aid award notifications to returning families*

Mid-March - April, 2017: Financial Aid award notifications to new families*

*Financial Aid contracts are due back to the school withing 10 business days of the issue date. After this time, the financial aid amount can not be guaranteed.

 

 

What if I am unable to meet the deadline for application to the Financial Aid Program?

 

Your cooperation in filing by the deadline assists us in most fairly distributing aid to all families who apply to the program. However, we do consider applications filed outside of the regular cycle on an aid-available basis. Families new to the school and those who are unable to file by the deadline should please contact Shayna Friedman at sfriedman@denverjds.org or (720) 449-9550 to discuss aid availability.

 

Am I a candidate for Financial Aid?

 

There are a few questions you can ask yourself to help determine whether Financial Aid is right for you.

 

  • Am I able to fit the full (non-indexed) amount of  tuition into my budget without sacrificing core expenses like housing, vehicles, groceries, clothing, healthcare, and child care? If you can not fit the entire amount of tuition into your budget after core expenses, you should consider Financial Aid.

 

  • Is there discretionary spending currently in my household budget that I could allocate toward tuition? Financial Aid will not be calibrated to discretionary spending and lifestyle choices including as examples vacations, housing expenses that exceed 28% of AGI, luxury cars, second homes, or the choice for one parent to stay at home when all children in the family are school aged.  It is calibrated to core expenses, outlined in Question 1 above.  Extenuating circumstances may also be considered, and the application includes an open ended question meant to document those.  

 

  • Is there a potential wage earner in our household who is choosing to stay at home? If there is an adult family member in the household who is choosing to stay at home while children are attending school full time, you may still demonstrate eligibility for Financial Aid.  There will be a part time income of $20,000 imputed into the household income of families with a stay at home parent/guardian.  This ensures that we are able to be equitable in the application of criteria for Financial Aid.  This will not apply to families who have children under age five that are home or attending an early childhood program part time (three mornings a week or less).  It also does not apply to families in which a parent/guardian is in between jobs but actively searching for a job.

 

  • Are there family members who plan to help us with tuition? If you expect to receive a financial contribution toward tuition from a family member, and that contribution added to the amount of tuition you can afford equals the full amount of tuition, then you need not apply for Finacial Aid. However, if between your contribution and an additional contribution from a friend or family, tuition is still not covered, then you should consider applying for Financial Aid.