My only take on this is that the imputed income for the nonworking parent needs to be increased to a minimum of $55-60,000. It should reflect approximately one-half of the median HHI for the region. |
former board member here. Most financial aid systems absolutely take a choice to stay home by one parent into account. And I believe the level education and potential earning level is a factor also. For example, an attorney who chooses not to practice law or someone else with a post graduate degree may get a bigger potential hit than someone who has a HS education. Bu I do know that some families seemed to be very good at hiding assets. So it is definitely not a perfect system. |
People who sit on their butt all day and beg for a FA handout deserve to be judged. Shameless mooches. Nobody is saying go get a 50 to 60 hour a week jet-setting career for $100k plus salary. But anyone can go find part-time work at nearby daycare center or Amazon or Target. And get off Facebook for Christ’s sake during workday hours. Nothing makes you look like a more pathetic working-prime loser. |
“...jet-setting career for $100k plus salary” LOLLLLL! |
+1. You don’t live in the area. |
What’s so funny? $80k-120k is what a “jet-setting” analyst / associate consultant is paid. In the air twice a week, typically in a hotel Mon-Thurs. I don’t think anyone is suggesting all SAHMs go seek such a job. |
What kind of bubble do you live in? $120K is not the median salary for the area. It's median HHI which in almost always the case in the DMV is TWO salaries. |
DP but double check your math. You and PP are saying the same thing. |
I'm not getting into the whether she should work angle or not but as someone familiar with Target staffing, there is zero chance Target would hire someone for those hours consistently. She could get a consistent overnight shift, maybe. |
They are in school moron. Hence the Private SCHOOL argument. Guess those teachers are raising your children. |
This does raise a question of equity. I think the FA tries to bring diversity but it does penalize full pay families who sacrifice more (two jobs, smaller houses and debt, less trips etc) if it goes to others who choose to have an easier life (the FA is sort of a free income in this case). I think the FA need to be changed. For example tuition can be made a bit cheaper (5-10 percent) to eliminate the need for some, while other forms of aid can be provided. For example, one church school I know requires parents to work on campus for certain hours a week to keep the tuition low. Some FAs can be awarded in this way and might be welcomed by the SAHM. |
OP, I haven't read through all of this thread, but I just wanted to say that at the three local privates that our family has been affiliated with in recent years, both parents must be working in order for kids to be considered for FA, except in extenuating circumstances (e.g. maternity leave or new baby at home). |
That's more than teachers make. |
It depends on which school system and seniority. Lots of teachers make a lot more than that, and they can work over the summer to make more. |
But then the private schools would move to, I don't know, a merit-based admission system? And that would truly have sucked for my kid, who would likely not have been admitted if I couldn't pay his tuition without FA. |