financial aid at our Big3 is a farce

[Anonymous]

I have a friend/family member (being vague on this) whose kid was admitted to a Big3 for high school. HHI $450K-500K+, two homes worth 2 million+ (one rented out), country club membership, one tuition. I am 100% sure the estimate of their income is correct. They asked for and received 50% aid. I'm honestly shocked and surprised. We pinch our pennies for this school and even donate beyond. We make less money than they do. I never even thought
of asking for aid. This kid is not a minority, very smart but no special hooks. I'm just sort of floored. I feel like broadcasting this to the school. It feels like a gut punch.
This is not a troll post or made-up post.

[Anonymous]

Sounds like they lied on their financial aid application. No way this would be legit.

[Anonymous]

Anonymous wrote:I have a friend/family member (being vague on this) whose kid was admitted to a Big3 for high school. HHI $450K-500K+, two homes worth 2 million+ (one rented out), country club membership, one tuition. I am 100% sure the estimate of their income is correct. They asked for and received 50% aid. I'm honestly shocked and surprised. We pinch our pennies for this school and even donate beyond. We make less money than they do. I never even thought
of asking for aid. This kid is not a minority, very smart but no special hooks. I'm just sort of floored. I feel like broadcasting this to the school. It feels like a gut punch.
This is not a troll post or made-up post.

Name the school please.

[Anonymous]

Anonymous wrote:I have a friend/family member (being vague on this) whose kid was admitted to a Big3 for high school. HHI $450K-500K+, two homes worth 2 million+ (one rented out), country club membership, one tuition. I am 100% sure the estimate of their income is correct. They asked for and received 50% aid. I'm honestly shocked and surprised. We pinch our pennies for this school and even donate beyond. We make less money than they do. I never even thought
of asking for aid. This kid is not a minority, very smart but no special hooks. I'm just sort of floored. I feel like broadcasting this to the school. It feels like a gut punch.
This is not a troll post or made-up post.

Surprised you have the time to be counting their money.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I have a friend/family member (being vague on this) whose kid was admitted to a Big3 for high school. HHI $450K-500K+, two homes worth 2 million+ (one rented out), country club membership, one tuition. I am 100% sure the estimate of their income is correct. They asked for and received 50% aid. I'm honestly shocked and surprised. We pinch our pennies for this school and even donate beyond. We make less money than they do. I never even thought
of asking for aid. This kid is not a minority, very smart but no special hooks. I'm just sort of floored. I feel like broadcasting this to the school. It feels like a gut punch.
This is not a troll post or made-up post.

Surprised you have the time to be counting their money.

If OP is donating and part goes to FA, OP is actually counting how much of their own money the friend is taking.

[Anonymous]

Anonymous wrote:I have a friend/family member (being vague on this) whose kid was admitted to a Big3 for high school. HHI $450K-500K+, two homes worth 2 million+ (one rented out), country club membership, one tuition. I am 100% sure the estimate of their income is correct. They asked for and received 50% aid. I'm honestly shocked and surprised. We pinch our pennies for this school and even donate beyond. We make less money than they do. I never even thought
of asking for aid. This kid is not a minority, very smart but no special hooks. I'm just sort of floored. I feel like broadcasting this to the school. It feels like a gut punch.
This is not a troll post or made-up post.

Then leave the school.

[Anonymous]

Something isn’t adding up. You have to submit tax returns so can’t fudge that. Did they tell you this directly? If they lied or falsified something I agree the school should know.

[Anonymous]

I know of a similar story. People moved money around, spent their cash savings on a Mercedes just before the FA application was due. Got 50%. Do not need it.

[Anonymous]

I think FS is a farce too. I have a friend with a kid at SSFS. HHI is over 300k. They get aid. Meanwhile we make $160k but can’t afford the school because aid maxes out at 50%. It’s a crock.

[Anonymous]

It is offensive.
Drop an anonymous note to the school.
It is not a MYOB - it is your business.

[Anonymous]

As we cannot verify the story I'm not inclined to think it's true. DCUM is rife with people trying to stir up controversy.

As others have aid your tax records are submitted when you apply for aid, and the admissions office people aren't clueless either when it comes to things like club memberships or second homes.

[Anonymous]

OP here. I know them really well. They've actually told me their income in the recent past. I know their jobs.
Also, their salaries are both posted publicly.
I know what real estate they own because i've been to both houses countless times.
Unless they have a secret gambling program I know nothing about, their net worth is quite a few million as well.
I guess what this proves is:
-schools definitely use aid as scholarship money. I had read about this on DCUM but never saw it play out in real life. I'm still shocked.
-if you're at all on the fringe of affording the schools, apply for aid. Really, anyone under $500k, apply.
-if you're on the fringe, don't give an extra cent. You're probably sponsoring someone wealthier than you are.

[Anonymous]

Anonymous wrote:As we cannot verify the story I'm not inclined to think it's true. DCUM is rife with people trying to stir up controversy.

As others have aid your tax records are submitted when you apply for aid, and the admissions office people aren't clueless either when it comes to things like club memberships or second homes.

+1 there are always lots of strange posts around the times decisions are due

[Anonymous]

Anonymous wrote:As we cannot verify the story I'm not inclined to think it's true. DCUM is rife with people trying to stir up controversy.

As others have aid your tax records are submitted when you apply for aid, and the admissions office people aren't clueless either when it comes to things like club memberships or second homes.

OP here. My point is, the school knows all this but they still used the money as "scholarship" money.
I have no doubt that their income/net worth was reported. I really, really don't think that these people lied.. or hid money.
They applied to multiple schools. Only one gave them aid. The rest clearly said "you can afford it".

[Anonymous]

Anonymous wrote:

Anonymous wrote:As we cannot verify the story I'm not inclined to think it's true. DCUM is rife with people trying to stir up controversy.

As others have aid your tax records are submitted when you apply for aid, and the admissions office people aren't clueless either when it comes to things like club memberships or second homes.

+1 there are always lots of strange posts around the times decisions are due

OP here. I wish there was some way to prove this because I can assure you that it's legit.
I'm not sure what posting about this falsely on here would get someone. Are you thinking that I am trying to persuade someone to give up a spot?
Nope--I didn't have a kid apply this year. Mine are both in their terminal schools.
Is there a secret password I can share to let you know that I'm for real? Lame joke but I have no dog in the fight except my tuition money.
It's just UGH. So freaking frustrating. I am also eating crow about this because I told this family repeatedly (when asked). "no, it's not worth it to apply".
Now I feel like a moron as I'm paying this $ and paying for them to attend too.