Top 3 financial aid

[Anonymous]

We have one child at a K-8 school that's $35K, full pay, and it's manageable but tight. We are thinking ahead to high school and NCS or Sidwell would be a great fit (assuming she got in), but financially it would be almost impossible. Together we earn 300K but have a high mortgage and support elderly parents. Anyone in a similar situation get any financial aid?

[Anonymous]

Sell the house and move somewhere cheaper. ON that income with one child, you can conformably afford to full pay.

[Anonymous]

You are wealthy. You should be full pay.

Sell your house and live more within a budget that will allow you to afford the education you want for your kid. If they get in, of course! That's always a crapshoot.

[Anonymous]

You will likely get at max a $5K discount off the $55K from NCS if you make $300K and only have one kid.
I speak from experience within the past year.
I've never applied for Sidwell aid.

[Anonymous]

NCS does not have great aid. STA is far more generous at the higher income levels as their endowment is much larger.

The $300K HHI bracket is almost non-existent at the Big3 (outside of some at STA who get aid or at other schools when grandparents are paying) because it just doesn't make sense to pay this much money (>$50K) on this income.

[Anonymous]

Where do you live? You could see where you get in and then move to a two bedroom apartment.

[Anonymous]

Anonymous wrote:You are wealthy. You should be full pay.

Sell your house and live more within a budget that will allow you to afford the education you want for your kid. If they get in, of course! That's always a crapshoot.

I was afraid this would be the answer. Selling would cost more than a year's tuition in transaction costs so would like to avoid that if possible. And we have a fairly specific layout that allows a family member to live with us that would be hard to replicate within commuting distance.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You are wealthy. You should be full pay.

Sell your house and live more within a budget that will allow you to afford the education you want for your kid. If they get in, of course! That's always a crapshoot.

I was afraid this would be the answer. Selling would cost more than a year's tuition in transaction costs so would like to avoid that if possible. And we have a fairly specific layout that allows a family member to live with us that would be hard to replicate within commuting distance.

Private school is a luxury, not a right. On 200k I support elderly family member abroad and send a kid to school at 50k. We live in a townhouse. You can make the choice to live in a smaller house. You are choosing not to. This does not earn you more right to funds than others who sacrifice for their kids.

[Anonymous]

The entitlement is unreal

[Anonymous]

Anonymous wrote:

Anonymous wrote:You are wealthy. You should be full pay.

Sell your house and live more within a budget that will allow you to afford the education you want for your kid. If they get in, of course! That's always a crapshoot.

I was afraid this would be the answer. Selling would cost more than a year's tuition in transaction costs so would like to avoid that if possible. And we have a fairly specific layout that allows a family member to live with us that would be hard to replicate within commuting distance.

Is your family member a dependent on your IRS tax returns? This would likely help matters.

[Anonymous]

Anonymous wrote:You are wealthy. You should be full pay.

Sell your house and live more within a budget that will allow you to afford the education you want for your kid. If they get in, of course! That's always a crapshoot.

New poster here but 300k HHI in the DC area is not wealthy. We have a similar income and support one elderly parent and cannot afford full pay at 40k and above. We’ve focused on the 25-30k schools. DC needs the smaller class size so we make private a priority.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You are wealthy. You should be full pay.

Sell your house and live more within a budget that will allow you to afford the education you want for your kid. If they get in, of course! That's always a crapshoot.

I was afraid this would be the answer. Selling would cost more than a year's tuition in transaction costs so would like to avoid that if possible. And we have a fairly specific layout that allows a family member to live with us that would be hard to replicate within commuting distance.

Stop listening to these people that are resentful of people at your income level that would like a private education for their child. They take all the tax breaks afforded them and welfare handouts that America affords the rich.

Don’t sell your house. Apply for aid. You need aid in your situation and may get it from many schools. Look at the endowments and average awards at many schools.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You are wealthy. You should be full pay.

Sell your house and live more within a budget that will allow you to afford the education you want for your kid. If they get in, of course! That's always a crapshoot.

I was afraid this would be the answer. Selling would cost more than a year's tuition in transaction costs so would like to avoid that if possible. And we have a fairly specific layout that allows a family member to live with us that would be hard to replicate within commuting distance.

Private school is a luxury, not a right. On 200k I support elderly family member abroad and send a kid to school at 50k. We live in a townhouse. You can make the choice to live in a smaller house. You are choosing not to. This does not earn you more right to funds than others who sacrifice for their kids.

The schools make the determination of who “has earned the right” to FA, not some anonymous blow-hard comment board.

OP, go ahead and apply if you need it based on your budget. It’s up to the school. Other people’s judgment about how you choose to spend your money, or how the school chooses to spend theirs, is irrelevant. They can choose not to give any additional money to the school if they don’t like how the school spends it.

[Anonymous]

OP, you should definitely apply for aid but I don't think you'll get much. We have a similar income and get $5K at NCS.

[Anonymous]

It might depend how much they want your kid.