What HHI for financial aid?

[Anonymous]

Anonymous wrote:Like clockwork the financial aid posts devolve to the "you shouldn't have had more than 1 kid" troupe.

Yes, unfortunately every financial aid question devolves into this, courtesy of a handful of completely mental posters. Renders this sub-forum completely useless.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just under $300k when we applied to well reputed (non-religious) privates for 6th grade. Tuition was in the 50s on average. We got a few paltry offers of $10k but mostly nothing. The one school that waitlisted our kid (who got into the rest) said they’d be admitted if willing to full pay.

We stayed in public.

On that income yuo can afford full pay. That's crazy you expect that much help.

That’s not true. That’s $300k before taxes. See my very basic breakdown above.

You are free to feel that way. But $10k is generally the amount that we donate every year. If I found out (and I wouldn't, but if I did) that the school offered $10k to a family with an HHI of $300k, my contributions would come to a screeching halt.

We’re that family. We live in a small rowhouse in DC. We have two kids. After taxes and the mortgage etc., we don’t have a shit ton left. And we’re saving for college and retirement. This is DC. $300k pre-tax for a family of 4 isn’t all that much.

Families with more than two kids maybe shouldn’t be asking for financial aid in the first place. Having a large family is a choice. No different from purchasing a $6M house or a $300k vehicle.

NP with one kid here. Families with multiple kids are a reliable long-term income stream for the school, even at 60% tuition. Which is why the school CHOOSES to give them FA.

As for "if I knew my donation was going to x, I wouldn't donate" - please, just stop donating. Donations, like tax dollars, inevitably go to things you wouldn't choose. Unlike tax dollars, you can stop donating or choose an earmarked cause like a new classroom wing, so please do that and stop complaining endlessly about who is needy enough for FA.

This is what we did. Just stopped abruptly one year when I realized that I was subsidizing families positioned exactly-- and I mean exactly, I knew them very well -- like our family, except they chose to have an additional kid or two. Nope. Why should we go without in order to transfer our hard-won funds to our nearly identical
peers?

[Anonymous]

Anonymous wrote:We are at a well resourced large K-12 and receive aid. Our HHI is around 300K. We have multiple children. We bought our house in 2020 for about 500K, had to put some work into it, drive two beat up cars, pay a lot in grad school student loans. We feel grateful to get aid and certainly feel like we are in the bottom 10% of families based on household wealth...this may or may not be true.

Be prepared for the fact that you almost certainly won’t get FA for college. FA in college is generally limited to those who make less than $250k ( and thanks to current FAFSA changes, most colleges don’t care how many kids you have).

It’s kind of crazy that private high schools give FA to families that colleges consider full pay.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just under $300k when we applied to well reputed (non-religious) privates for 6th grade. Tuition was in the 50s on average. We got a few paltry offers of $10k but mostly nothing. The one school that waitlisted our kid (who got into the rest) said they’d be admitted if willing to full pay.

We stayed in public.

On that income yuo can afford full pay. That's crazy you expect that much help.

That’s not true. That’s $300k before taxes. See my very basic breakdown above.

You are free to feel that way. But $10k is generally the amount that we donate every year. If I found out (and I wouldn't, but if I did) that the school offered $10k to a family with an HHI of $300k, my contributions would come to a screeching halt.

We’re that family. We live in a small rowhouse in DC. We have two kids. After taxes and the mortgage etc., we don’t have a shit ton left. And we’re saving for college and retirement. This is DC. $300k pre-tax for a family of 4 isn’t all that much.

Families with more than two kids maybe shouldn’t be asking for financial aid in the first place. Having a large family is a choice. No different from purchasing a $6M house or a $300k vehicle.

NP with one kid here. Families with multiple kids are a reliable long-term income stream for the school, even at 60% tuition. Which is why the school CHOOSES to give them FA.

As for "if I knew my donation was going to x, I wouldn't donate" - please, just stop donating. Donations, like tax dollars, inevitably go to things you wouldn't choose. Unlike tax dollars, you can stop donating or choose an earmarked cause like a new classroom wing, so please do that and stop complaining endlessly about who is needy enough for FA.

This is what we did. Just stopped abruptly one year when I realized that I was subsidizing families positioned exactly-- and I mean exactly, I knew them very well -- like our family, except they chose to have an additional kid or two. Nope. Why should we go without in order to transfer our hard-won funds to our nearly identical
peers?

No one cares. We really do not care at all about whether you donate. That’s not what this thread is about, stop hijacking every financial aid thread to make comments that clearly no one in your personal life is willing to listen to.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We are at a well resourced large K-12 and receive aid. Our HHI is around 300K. We have multiple children. We bought our house in 2020 for about 500K, had to put some work into it, drive two beat up cars, pay a lot in grad school student loans. We feel grateful to get aid and certainly feel like we are in the bottom 10% of families based on household wealth...this may or may not be true.

Be prepared for the fact that you almost certainly won’t get FA for college. FA in college is generally limited to those who make less than $250k ( and thanks to current FAFSA changes, most colleges don’t care how many kids you have).

It’s kind of crazy that private high schools give FA to families that colleges consider full pay.

This is not accurate. At elite colleges, families making over 250k/yr can definitely qualify for aid. At 200k or less, MIT, Penn, and JHU waive all tuition (yes, with typical assets). Tuition alone is approaching 70k/yr.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We are at a well resourced large K-12 and receive aid. Our HHI is around 300K. We have multiple children. We bought our house in 2020 for about 500K, had to put some work into it, drive two beat up cars, pay a lot in grad school student loans. We feel grateful to get aid and certainly feel like we are in the bottom 10% of families based on household wealth...this may or may not be true.

Be prepared for the fact that you almost certainly won’t get FA for college. FA in college is generally limited to those who make less than $250k ( and thanks to current FAFSA changes, most colleges don’t care how many kids you have).

It’s kind of crazy that private high schools give FA to families that colleges consider full pay.

This is not accurate. At elite colleges, families making over 250k/yr can definitely qualify for aid. At 200k or less, MIT, Penn, and JHU waive all tuition (yes, with typical assets). Tuition alone is approaching 70k/yr.

I agree that it’s crazy to expect families making 300k a year to pay $90k tuition, but I can assure you that is the case at a lot/most top ranked privates. In the context of college applications families making $250 ish-400ish are called donut hole families because they are too rich to qualify for financial aid and too poor to be able to really pay the tuition.

A few exceptionally wealthy Ivy type schools may be the exception, but there aren’t many of them.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We are at a well resourced large K-12 and receive aid. Our HHI is around 300K. We have multiple children. We bought our house in 2020 for about 500K, had to put some work into it, drive two beat up cars, pay a lot in grad school student loans. We feel grateful to get aid and certainly feel like we are in the bottom 10% of families based on household wealth...this may or may not be true.

Be prepared for the fact that you almost certainly won’t get FA for college. FA in college is generally limited to those who make less than $250k ( and thanks to current FAFSA changes, most colleges don’t care how many kids you have).

It’s kind of crazy that private high schools give FA to families that colleges consider full pay.

This is not accurate. At elite colleges, families making over 250k/yr can definitely qualify for aid. At 200k or less, MIT, Penn, and JHU waive all tuition (yes, with typical assets). Tuition alone is approaching 70k/yr.

I agree that it’s crazy to expect families making 300k a year to pay $90k tuition, but I can assure you that is the case at a lot/most top ranked privates. In the context of college applications families making $250 ish-400ish are called donut hole families because they are too rich to qualify for financial aid and too poor to be able to really pay the tuition.

A few exceptionally wealthy Ivy type schools may be the exception, but there aren’t many of them.

I study endowment spending in elite higher education. They are absolutely getting aid at top schools. They likely aren’t getting an enormous amount, but they often get some. I agree the colleges should be offering more aid or charging less instead of hoarding endowment returns.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just under $300k when we applied to well reputed (non-religious) privates for 6th grade. Tuition was in the 50s on average. We got a few paltry offers of $10k but mostly nothing. The one school that waitlisted our kid (who got into the rest) said they’d be admitted if willing to full pay.

We stayed in public.

On that income yuo can afford full pay. That's crazy you expect that much help.

That’s not true. That’s $300k before taxes. See my very basic breakdown above.

You are free to feel that way. But $10k is generally the amount that we donate every year. If I found out (and I wouldn't, but if I did) that the school offered $10k to a family with an HHI of $300k, my contributions would come to a screeching halt.

We’re that family. We live in a small rowhouse in DC. We have two kids. After taxes and the mortgage etc., we don’t have a shit ton left. And we’re saving for college and retirement. This is DC. $300k pre-tax for a family of 4 isn’t all that much.

Families with more than two kids maybe shouldn’t be asking for financial aid in the first place. Having a large family is a choice. No different from purchasing a $6M house or a $300k vehicle.

NP with one kid here. Families with multiple kids are a reliable long-term income stream for the school, even at 60% tuition. Which is why the school CHOOSES to give them FA.

As for "if I knew my donation was going to x, I wouldn't donate" - please, just stop donating. Donations, like tax dollars, inevitably go to things you wouldn't choose. Unlike tax dollars, you can stop donating or choose an earmarked cause like a new classroom wing, so please do that and stop complaining endlessly about who is needy enough for FA.

Giving discounts on tuition has an opportunity cost when you could be charging full price. Families who are full pay tuition are better for the school, from a budget perspective.

If parents choose to have a very large family with 4 kids, they should also have the resources to fund them. They should not be asking for financial aid under these circumstances.

Is a family with two kids on a $300k income more deserving than a family with four kids on a $300k income? Absolutely, yes. The aid should go to the family with two kids.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Like clockwork the financial aid posts devolve to the "you shouldn't have had more than 1 kid" troupe.

Yes, unfortunately every financial aid question devolves into this, courtesy of a handful of completely mental posters. Renders this sub-forum completely useless.

It is very reasonable to raise questions when a high income family with an excessively large number of children is applying for financial aid.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just under $300k when we applied to well reputed (non-religious) privates for 6th grade. Tuition was in the 50s on average. We got a few paltry offers of $10k but mostly nothing. The one school that waitlisted our kid (who got into the rest) said they’d be admitted if willing to full pay.

We stayed in public.

On that income yuo can afford full pay. That's crazy you expect that much help.

That’s not true. That’s $300k before taxes. See my very basic breakdown above.

You are free to feel that way. But $10k is generally the amount that we donate every year. If I found out (and I wouldn't, but if I did) that the school offered $10k to a family with an HHI of $300k, my contributions would come to a screeching halt.

We’re that family. We live in a small rowhouse in DC. We have two kids. After taxes and the mortgage etc., we don’t have a shit ton left. And we’re saving for college and retirement. This is DC. $300k pre-tax for a family of 4 isn’t all that much.

Families with more than two kids maybe shouldn’t be asking for financial aid in the first place. Having a large family is a choice. No different from purchasing a $6M house or a $300k vehicle.

I donMt understand this. Having 1 kid is a choice too… nobody should ask for aid then

An unreasonably large number of children is living a excessive lifestyle that is not compatible with requesting financial aid.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just under $300k when we applied to well reputed (non-religious) privates for 6th grade. Tuition was in the 50s on average. We got a few paltry offers of $10k but mostly nothing. The one school that waitlisted our kid (who got into the rest) said they’d be admitted if willing to full pay.

We stayed in public.

On that income yuo can afford full pay. That's crazy you expect that much help.

That’s not true. That’s $300k before taxes. See my very basic breakdown above.

You are free to feel that way. But $10k is generally the amount that we donate every year. If I found out (and I wouldn't, but if I did) that the school offered $10k to a family with an HHI of $300k, my contributions would come to a screeching halt.

We’re that family. We live in a small rowhouse in DC. We have two kids. After taxes and the mortgage etc., we don’t have a shit ton left. And we’re saving for college and retirement. This is DC. $300k pre-tax for a family of 4 isn’t all that much.

Families with more than two kids maybe shouldn’t be asking for financial aid in the first place. Having a large family is a choice. No different from purchasing a $6M house or a $300k vehicle.

I said we had two kids, moron. We are a “family of four” including the parents.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just under $300k when we applied to well reputed (non-religious) privates for 6th grade. Tuition was in the 50s on average. We got a few paltry offers of $10k but mostly nothing. The one school that waitlisted our kid (who got into the rest) said they’d be admitted if willing to full pay.

We stayed in public.

On that income yuo can afford full pay. That's crazy you expect that much help.

That’s not true. That’s $300k before taxes. See my very basic breakdown above.

You are free to feel that way. But $10k is generally the amount that we donate every year. If I found out (and I wouldn't, but if I did) that the school offered $10k to a family with an HHI of $300k, my contributions would come to a screeching halt.

We’re that family. We live in a small rowhouse in DC. We have two kids. After taxes and the mortgage etc., we don’t have a shit ton left. And we’re saving for college and retirement. This is DC. $300k pre-tax for a family of 4 isn’t all that much.

Families with more than two kids maybe shouldn’t be asking for financial aid in the first place. Having a large family is a choice. No different from purchasing a $6M house or a $300k vehicle.

I said we had two kids, moron. We are a “family of four” including the parents.

I will quote you here “This is DC. $300k pre-tax for a family of 4 isn’t all that much.” People can judge who the moron is here.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Like clockwork the financial aid posts devolve to the "you shouldn't have had more than 1 kid" troupe.

Yes, unfortunately every financial aid question devolves into this, courtesy of a handful of completely mental posters. Renders this sub-forum completely useless.

It is very reasonable to raise questions when a high income family with an excessively large number of children is applying for financial aid.

No, because the thread isn’t about whether you think it’s justified or not. Nor are you the one making the aid decision. So just STFU and stop derailing threads.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Like clockwork the financial aid posts devolve to the "you shouldn't have had more than 1 kid" troupe.

Yes, unfortunately every financial aid question devolves into this, courtesy of a handful of completely mental posters. Renders this sub-forum completely useless.

It is very reasonable to raise questions when a high income family with an excessively large number of children is applying for financial aid.

No, because the thread isn’t about whether you think it’s justified or not. Nor are you the one making the aid decision. So just STFU and stop derailing threads.

Take your anger out somewhere else, you degenerate.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just under $300k when we applied to well reputed (non-religious) privates for 6th grade. Tuition was in the 50s on average. We got a few paltry offers of $10k but mostly nothing. The one school that waitlisted our kid (who got into the rest) said they’d be admitted if willing to full pay.

We stayed in public.

On that income yuo can afford full pay. That's crazy you expect that much help.

That’s not true. That’s $300k before taxes. See my very basic breakdown above.

You are free to feel that way. But $10k is generally the amount that we donate every year. If I found out (and I wouldn't, but if I did) that the school offered $10k to a family with an HHI of $300k, my contributions would come to a screeching halt.

We’re that family. We live in a small rowhouse in DC. We have two kids. After taxes and the mortgage etc., we don’t have a shit ton left. And we’re saving for college and retirement. This is DC. $300k pre-tax for a family of 4 isn’t all that much.

Families with more than two kids maybe shouldn’t be asking for financial aid in the first place. Having a large family is a choice. No different from purchasing a $6M house or a $300k vehicle.

NP with one kid here. Families with multiple kids are a reliable long-term income stream for the school, even at 60% tuition. Which is why the school CHOOSES to give them FA.

As for "if I knew my donation was going to x, I wouldn't donate" - please, just stop donating. Donations, like tax dollars, inevitably go to things you wouldn't choose. Unlike tax dollars, you can stop donating or choose an earmarked cause like a new classroom wing, so please do that and stop complaining endlessly about who is needy enough for FA.

Giving discounts on tuition has an opportunity cost when you could be charging full price. Families who are full pay tuition are better for the school, from a budget perspective.

Incorrect. Two kids at 100% tuition is less money than 4 kids at 60%. The schools are using FA in a financially beneficial manner.

None if this has to do with "dessert." FA decisions are not made on the basis of who deserves aid.