HHI and FA
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Anonymous
| Assuming parents are not divorced and maintaining separate homes, what is the highest HHI that someone in HCOL metro area could expect to have and get some FA for MS or HS? Is 300K the cut-off? |
Anonymous
| I don’t think there is a cutoff (though 300 seems very high). It depends on your expenses. |
Anonymous
|
It depends tremendously on the school.
There are schools that give aid (one kid) up to $350K or even higher. There are schools that have a cut-off of $200K. For the schools with deep(er) pockets, it also depends on how much they want the kid. |
Anonymous
| A family making 300k with one child simply does not need FA. You may want it, but you don’t need it. |
Anonymous
| How much does our home value factor in? Ffx Co real estate values have jumped hugely in the last two years. Ours went from $700k to over $1 million, but our HHI is a little over $200k. |
Anonymous
| I know of a family with one kid getting a lot of FA and the working parent makes over $300k. But there are significant extenuating circumstances that make it reasonable. I don’t want to get into the personal circumstances but it is not what any family would want to go through. And the child is an academic super star. |
Anonymous
sure, but schools are happy to give it to kids they really want. |
Anonymous
| We did not get any with 200K HHI and one child. But we do have a lot in savings so YMMV. |
Anonymous
Why wound you even apply for aid with a lot in savings? I'm so confused. |
Anonymous
| For FA it's overly simplistic to look at HHI only without savings and assets, unless the latter is considered typical. |
Anonymous
We were hoping to use it for other things. Like home renovations. Apparently we would have been better off having spent that money already than living frugally to save for things. |
Anonymous
BTW I am not complaining. We can afford it and live with the 80s bathrooms and kitchens. No problem. But everyone suggested we at least apply for aid based on our income. |
Anonymous
You think you will get aid on $300K? Get a sledge hammer and DIY. |
Anonymous
I am not OP. We are 200K HHI |
Anonymous
| We received 70% at 155k for our son and are so grateful. We will struggle with the 30% |