Financial aid
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Anonymous
| A friend is a single parent and makes $130k/year. No other parent in the picture. No family money. Two kids, no assets except a car and a house that they bought for $400k over a decade ago. Bi-racial kids. What kind of financial aid do you think the kids could get from a Big 3 private school? |
Anonymous
| It's worth a try but would suggest casting a wider net than just big 3. Even if they got in and got ideal FA, it still might be a big lift. |
Anonymous
| The problem there is that with a HHI of $130k, she will need close to full aid and schools don't give out that many full ($50k) aid packages. |
Anonymous
Another reason to choose a less expensive school. Cast a wide net. Would the kids be in preschool, elementary, middle or HS? |
Anonymous
| OP here. Kids would be in elementary school. |
Anonymous
| Chances are they won’t get more than 50% |
Anonymous
| Minimum of 65% |
Anonymous
| UMC would get more than 50% if they need diversity numbers. |
Anonymous
| Range would be around 50-70%. House and car are fine. Be sure to include all activities paid for (sports/camps). Don't underestimate the "would you like to tell us anything else" box. Lay it on thick. |
Anonymous
| There is an unspoken expectation that that the family needs to pay 25-30% of the tuition. Very few packages bigger then that are available. I learned that the hard way. |
Anonymous
| Stick with public. They will not get enough aid. |
Anonymous
| Not enough. Schools are typically more generous with financial aid in HS, so maybe try again then. |
Anonymous
|
FWIW, ten years ago I was a single parent making $120K and received enough aid that my total tuition bill for one child was about $15K -- I think total tuition might have been $25K at the time, so the aid percentage was about 40 percent. Not a Big 3. Keep in mind that for elementary-age kids there is still after-care (DC went to the school's after-care program and the school discounted the fee by the same percentage as the tuition discount), so tuition is not the only expense. Plus camp or other activities during days school is closed, spring break, summer break, etc.
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Anonymous
This is what I am seeing. Why is this the case? Is it because sports are more competitive in high school? |
Anonymous
Because frankly a high school scholarship kid can give back to the school through their talents: they can get people in the seats for theatre productions, ball games, etc (and can also get alums excited). They can be written up in the newsletter when they win a debate tournament etc. A young scholarship kid just takes from the school. The only thing they potentially contribute for years is diversity for promotional pictures. |