Anyone making a 6-figure salary (combined or not) receiving financial aid?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:But PP, you're not receiving (or asking for) FA. You're not living outside of your means, and asking others to subsidize it. That's the difference between you and OP.

You're right, but I could envision us applying for aid later on once DC2 gets to school age. (I'm the PP who posted the budget above.) They'd probably say no because we could eliminate all savings, but I would seriously consider applying, and wouldn't want to be shouted down from at least applying. (I'm in the "no harm in asking; if they say no, they say no" camp, can you tell? )

I don't think anyone would argue that someone with a $60K tuition bill (for two children) should apply for (and, if eligible, receive) some financial aid.

I actually would argue, since the PP lives in a nice house worth over a million bucks in an expensive area of Bethesda. The financial aid office will have a field day with that application. Really, DCUM amazes me sometimes.

[Anonymous]

The Bethesda 1 million dollar house poster is ridiculous. Seriously. The OP didn't bother me at all, but she does. I guess because we have a $450 k house in an area with not very good public schools (no equity b/c of declining home values) and we make a little over 200k combined. But I would never dream that we would be eligible for aid. We will just send our kids to the less than stellar (and potentially unsafe) public schools. But she has a ton of equity- 700k!!!! She adds no middle class diversity (even though that is what she claims) and she has great public schools. All of the public schools in Bethesda are so much better than the vast majority in thos country.

[Anonymous]

"200K is fast becoming an averge moderate middle America family income."

You must be smoking crack. Have you picked up a newspaper? One in 54 homes is at risk of foreclosure. 500,000 jobs lost in the last month. The DOW around 8000. Unemployment highest in 60 years. Real wages depressed relative to the 1960s. 47 Million uninsured. Shortages at local food banks.

If 200k feels moderate to you, you are a very fortunate person, but also an ignorant one.

Now go out and do MLK Day service and learn a thing or two.

[Anonymous]

Anonymous wrote:The Bethesda 1 million dollar house poster is ridiculous. Seriously. The OP didn't bother me at all, but she does. I guess because we have a $450 k house in an area with not very good public schools (no equity b/c of declining home values) and we make a little over 200k combined. But I would never dream that we would be eligible for aid. We will just send our kids to the less than stellar (and potentially unsafe) public schools. But she has a ton of equity- 700k!!!! She adds no middle class diversity (even though that is what she claims) and she has great public schools. All of the public schools in Bethesda are so much better than the vast majority in thos country.

I am the Bethesda BPPP. I *never* claimed that I add middle-class diversity; you are confusing me with some other poster. And I never said we have 700K in equity; don't know where you imagined that figure. (I said we have equity, which we do, but not 700K.) To be honest, it doesn't bother me at all that I "bother" you or that you find me "ridiculous," LOL. Good Lord, does everything have to devolve into name-calling? I have been prudent and sensible and forthcoming. Have a great day.

[Anonymous]

Anonymous wrote:For the budget-posting PP: you've been very sensible and decent and more forthcoming than most of us would be throughout this occasionally touchy thread... so I hope that what I have to say doesn't offend you. But honestly if you live in a $1m house in Bethesda, and maintain very respectable retirement and college savings, I don't see the purpose in a private school helping fund your childrens' tuition with financial aid. You must have great public school options, and obviously have considerable financial resources, and I guess I don't financial aid as a tool to enable families to stockpile assets (houses, savings). I don't mean to suggest that you shouldn't apply of course; just that other parents would chose to make other sacrifices if they really want the private school experience for their children.

I think this discussion is so heated at times because ultimately these choices and sacrifices do transmit your values to your children in some way. My parents took out a second mortgage to pay for 3 kids' tuition at private colleges; I had friends whose parents explicitly told them that they would not sell off property or investments to help pay for school. I'll forever value what my parents did for me, and I would do the same for my kids. I think I've worked harder because I appreciate the choices that they made.

I am the BPPP, and thanks for your kind words. What you've said doesn't offend me at all; thanks for your thoughtful comments.

[Anonymous]

Anonymous wrote:The Bethesda 1 million dollar house poster is ridiculous. Seriously. The OP didn't bother me at all, but she does. I guess because we have a $450 k house in an area with not very good public schools (no equity b/c of declining home values) and we make a little over 200k combined. But I would never dream that we would be eligible for aid. We will just send our kids to the less than stellar (and potentially unsafe) public schools. But she has a ton of equity- 700k!!!! She adds no middle class diversity (even though that is what she claims) and she has great public schools. All of the public schools in Bethesda are so much better than the vast majority in thos country.

I think the Bethesda poster stated she would apply for financial aid for a second child. Maybe her house is worth 1 million, but maybe it's not in this market. Who knows what homes will have declining values by the time her second kid needs to go to school. Just because she lives in Bethesda with good schools wouldn't make her less deserving than someone with the same financial picture living in an area with not so good public schools. I don't think the financial aid people consider the area in which you live in determining need. Don't know why OP didn't bother you, and the Bethesda poster bothered you. OP is asking for aid for 1 kid with a HHI of 200K. Just as you would never dream that you would be eligible for aid and instead have opted to send your kid to the less than stellar public school, so should OP.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The Bethesda 1 million dollar house poster is ridiculous. Seriously. The OP didn't bother me at all, but she does. I guess because we have a $450 k house in an area with not very good public schools (no equity b/c of declining home values) and we make a little over 200k combined. But I would never dream that we would be eligible for aid. We will just send our kids to the less than stellar (and potentially unsafe) public schools. But she has a ton of equity- 700k!!!! She adds no middle class diversity (even though that is what she claims) and she has great public schools. All of the public schools in Bethesda are so much better than the vast majority in thos country.

I am the Bethesda BPPP. I *never* claimed that I add middle-class diversity; you are confusing me with some other poster. And I never said we have 700K in equity; don't know where you imagined that figure. (I said we have equity, which we do, but not 700K.) To be honest, it doesn't bother me at all that I "bother" you or that you find me "ridiculous," LOL. Good Lord, does everything have to devolve into name-calling? I have been prudent and sensible and forthcoming. Have a great day.

I got the 700k because you have a $1 million house and a 300k mortage. Is that not right? Maybe you had a $3000k mortgage payment. Sorry if I confused you with someone else. This has been a long post and I apologize that I made this mistake.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The Bethesda 1 million dollar house poster is ridiculous. Seriously. The OP didn't bother me at all, but she does. I guess because we have a $450 k house in an area with not very good public schools (no equity b/c of declining home values) and we make a little over 200k combined. But I would never dream that we would be eligible for aid. We will just send our kids to the less than stellar (and potentially unsafe) public schools. But she has a ton of equity- 700k!!!! She adds no middle class diversity (even though that is what she claims) and she has great public schools. All of the public schools in Bethesda are so much better than the vast majority in thos country.

I think the Bethesda poster stated she would apply for financial aid for a second child. Maybe her house is worth 1 million, but maybe it's not in this market. Who knows what homes will have declining values by the time her second kid needs to go to school. Just because she lives in Bethesda with good schools wouldn't make her less deserving than someone with the same financial picture living in an area with not so good public schools. I don't think the financial aid people consider the area in which you live in determining need. Don't know why OP didn't bother you, and the Bethesda poster bothered you. OP is asking for aid for 1 kid with a HHI of 200K. Just as you would never dream that you would be eligible for aid and instead have opted to send your kid to the less than stellar public school, so should OP.

Maybe I didn't read the OP closely enough but it wasn't clear to me that she had that kind of equity. That is what bugged me. And yes, to me it matters what school district she is in even if it is irrelevant for the purposes of aid.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The Bethesda 1 million dollar house poster is ridiculous. Seriously. The OP didn't bother me at all, but she does. I guess because we have a $450 k house in an area with not very good public schools (no equity b/c of declining home values) and we make a little over 200k combined. But I would never dream that we would be eligible for aid. We will just send our kids to the less than stellar (and potentially unsafe) public schools. But she has a ton of equity- 700k!!!! She adds no middle class diversity (even though that is what she claims) and she has great public schools. All of the public schools in Bethesda are so much better than the vast majority in thos country.

I am the Bethesda BPPP. I *never* claimed that I add middle-class diversity; you are confusing me with some other poster. And I never said we have 700K in equity; don't know where you imagined that figure. (I said we have equity, which we do, but not 700K.) To be honest, it doesn't bother me at all that I "bother" you or that you find me "ridiculous," LOL. Good Lord, does everything have to devolve into name-calling? I have been prudent and sensible and forthcoming. Have a great day.

I got the 700k because you have a $1 million house and a 300k mortage. Is that not right? Maybe you had a $3000k mortgage payment. Sorry if I confused you with someone else. This has been a long post and I apologize that I made this mistake.

Correct, a $3000 mortgage payment (which doesn't include taxes and insurance, BTW; we don't escrow.) I accept your apology!

[Anonymous]

Anonymous wrote:Maybe I didn't read the OP closely enough but it wasn't clear to me that she had that kind of equity. That is what bugged me. And yes, to me it matters what school district she is in even if it is irrelevant for the purposes of aid.

It doesn't matter what kind of equity OP has. Everyone's equity is shot to hell right now. What matters is that OP can afford the tuition, which isn't irrelevant for the purpose of aid.

[Anonymous]

I have posted on this thread a couple of times. I am one of the ones who is a donor, for want of a better way to put it.

I have finally come to the conclusion that if some people who make $200K are gong to apply, then perhaps they all should. Then the school can make real choices between real families and decide which circumstances deserve aid.

I was imagining in my head these committees sitting around deciding what to do because they had too few applicants for the aid pool. I was basing that on our experience with one preschool, which did encourage aid applications. I took a look today, as a result of this thread, at our "big" school's financial aid website (big as in not a preschool). I was somewhat relieved to find that they flatly state there isn't enough aid money even to meet all demonstrated need. I got lost in the weeds of how they determine need (they say they look at savings, home equity, investments, but they also say they have a standard percentage they use to determine a family's discretionary income, so I don't quite understand how those two things work together).

People may say it's wrong, but I'm actually sort of happy they don't have enough money for everyone who wants it. Perversely, that makes me want to go to the auction and give more. So I hope the Bethesda Budget Poster does apply, and stacks her circumstances against others. She may get aid, she may not, but then at least there will be more applicants for the school to choose among, and I can hope that the money I give is going to someone who deserves it.

I actually thought the Bethesda person was less obnoxious than some others. I guess it depends on what pushes your buttons (I am still ticked about the values thing and the we're are entitled to the most expensive private schools thing. I feel entitled to a 7,000 square foot house, but I don't have one). I think the Bethesda poster just happened to get lucky in the real estate market. There are still some of those folks around, even in this crappy market.

See you at the auction!!!

[Anonymous]

If everything seems out of whack, it is because it is. 26K for pre-K? You must be smoking crack! But I suppose there must be alot of crack addicts out there, because if DCUM is any indication, most of us spend the entire day obsessing about how to get into Beauvoir, Sidwell, GDS and the other Big Schools.

Everything is relative. 200K in middle-America is very, very rich. But you also would not have 26K private schools in those areas.

We go to a Big Three. If you put aside the IMF/World Bank folks (who get employee-benefit tuition benefits), and the employees of the school who absolutely should be getting some assistance, then the overwhelming majority of families come from rich (400K) to very rich (800K) to crazy rich. The 200K folks, are in this nutty world that is my private school bubble, very much low income, relatively speaking. If you do not live in the DC area, and have not exposed to the nuttines of the private school world, this will not make sense to you. But for those of us in the bubble, it is reality, not some drug induced fantasy.

[Anonymous]

Anonymous wrote:If everything seems out of whack, it is because it is. 26K for pre-K? You must be smoking crack! But I suppose there must be alot of crack addicts out there, because if DCUM is any indication, most of us spend the entire day obsessing about how to get into Beauvoir, Sidwell, GDS and the other Big Schools.

Everything is relative. 200K in middle-America is very, very rich. But you also would not have 26K private schools in those areas.

I don't know if that is true, actually. I mean, it may be literally true, but I am not so sure that other people in other places don't have more sense.

Just for fun, I looked at a private school in a small Southern city I happen to be familiar with. Pre-K is $12K, up to $17K for high school. The median income in this town is $38K. In this town, if you make more than $100K, you are considered rich. Law firm partners hope for $150K and almost never break $250K, rather than the 1-2 million they may get here. Yet that school is full, too. I could argue that this school is more expensive than B, S and the rest as a relative matter. Yet, it's the kind of town where if you applied for aid, everybody would know, too.

[Anonymous]

FYI, I just got my form back from SSS (the financial aid service) and DH and I make combined $ 160,000 with one child and we have no debt, no equity and it was determined that we can contribute almost $ 20,000 which I think is really fair and just about what I thought we could afford. So the people that make the decisions really seem to kwow what they are doing. I do think making $ 200,000 with a few kids is not THAT much in this area so I belive they would qualifty (unless they have huge amount of equity in their home or other savings besides retirement).

[Anonymous]

Anonymous wrote:FYI, I just got my form back from SSS (the financial aid service) and DH and I make combined $ 160,000 with one child and we have no debt, no equity and it was determined that we can contribute almost $ 20,000 which I think is really fair and just about what I thought we could afford. So the people that make the decisions really seem to kwow what they are doing. I do think making $ 200,000 with a few kids is not THAT much in this area so I belive they would qualifty (unless they have huge amount of equity in their home or other savings besides retirement).

Thanks, this is very helpful! Question: does that mean retirement savings aren't figured into the aid calculation?