Finacial aid at 350K HHI with high mortgages and nanny

[Anonymous]

Anonymous wrote:Sorry but what is wrong or broken about the very rich only being able to afford these schools? I think its a reality. What is wrong with the really rich being able to afford a nicer house or car? money buys nicer things, including school at the k - 12 level. Your child can be admitted to any one of these schools regardless of your incomes, you can opt to take out loans to pay for it just like when baby with apply to college and if you can't do it out of pocket you can take out loans then. People don't think this because taking a (13x50k on average for inflation) 650k loan for k - 12 does not make any sense... even if that 650k would buy the baby a relatively nicer educational atmosphere (maybe). Its just reality.... can't get everything you think youre entitles to or would make the life of junior better. If you value that education as the # priority above all else you can drive the 12 yo car, live in Gaithersburg and eat PBJ all the time so baby can go to a big 3. Choices people. I am sad I am not rich too. Boo hoo.

+1

[Anonymous]

Anonymous wrote:Now that you know I am on financial aid perhaps you can opine on what expenses are reasonable and which are not. Should i buy new clothes or only second hand? Should i own a car or only take public transportation. I work 9-6pm. Am i working enough to justify the fa? my sons sneakers are too small do i get him new ones. i own a house. should i sell it and rent - do i have a right to own? I had lunch at pan era bread yesterday. Too much? I have two kids. One too many? A little advice for those that are covering my fa would be welcome. The fa forms should specify what expenses i can incur and which i can not.

The full-paying families have choices to make in this world too. You're giving me reasons to choose to curtail my annual fund contribution.

[Anonymous]

Anonymous wrote:Now that you know I am on financial aid perhaps you can opine on what expenses are reasonable and which are not. Should i buy new clothes or only second hand? Should i own a car or only take public transportation. I work 9-6pm. Am i working enough to justify the fa? my sons sneakers are too small do i get him new ones. i own a house. should i sell it and rent - do i have a right to own? I had lunch at pan era bread yesterday. Too much? I have two kids. One too many? A little advice for those that are covering my fa would be welcome. The fa forms should specify what expenses i can incur and which i can not.

I am a previous poster and I fully support financial aid! I think most people receiving it are deserving of it. I just think that tuition should be paid in full first then whatever is left over should go towards vacations, etc… Just my opinion, as that what we do and we struggle but I know that we are paying our fair share and that is the cost of attending such great and expensive schools. I don't think people living in a $900,000 home should receive financial aid - regardless of their net or whatnot. Sends the wrong message.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Just catching up on these posts. We are in two separate private schools in NOVA and at one, we've got a few families who have either SAHMs or one parent that works PT. I ask this, why should we continue to give, when these families aren't asked to change their lifestyles to make sacrifices for this privilege? Again, as many of these discussions conclude, private school is not a right. It takes a lot of money and in most cases, a lot of sacrifice to do this for our kids. I hate watching these families take advantage of us.

Yes, but FA applications assign a "salary" to the non-working spouse that is factored into the household expected contribution. I think it is around $35,000-$40,000, but I'm not sure. I would think that a part-time working spouse would also be assigned a "full-time" salary to the family's HHI.


How do you know that these families with SAHM or part-time working spouses receive FA?

In my case they said it and their kids said it. Homes ranged from 1.5 to over 2m. Vacations in Europe/Carribean etc, new cars for themselves and/or kids.

[Anonymous]

In my case, the families are very open about their financial situation. In one case, one parent is working part-time and the other has some ridiculous job where he works from home so they can co-parent. But, the resentment comes when you find out both have law degrees, yet neither practices law. Why are we financing school for their kid?

And, as far as caring about your expenses, I don't. I just expect both parents to fully commit to paying for private school. In most cases, it is a luxury to be a SAHP and an extravagance to send your kid to a private school.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just catching up on these posts. We are in two separate private schools in NOVA and at one, we've got a few families who have either SAHMs or one parent that works PT. I ask this, why should we continue to give, when these families aren't asked to change their lifestyles to make sacrifices for this privilege? Again, as many of these discussions conclude, private school is not a right. It takes a lot of money and in most cases, a lot of sacrifice to do this for our kids. I hate watching these families take advantage of us.

Yes, but FA applications assign a "salary" to the non-working spouse that is factored into the household expected contribution. I think it is around $35,000-$40,000, but I'm not sure. I would think that a part-time working spouse would also be assigned a "full-time" salary to the family's HHI.


How do you know that these families with SAHM or part-time working spouses receive FA?

In my case they said it and their kids said it. Homes ranged from 1.5 to over 2m. Vacations in Europe/Carribean etc, new cars for themselves and/or kids.

something about this just doesn't smell right. can't see a family in a $2M home being approved for FA. Not worth the risk for a school

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just catching up on these posts. We are in two separate private schools in NOVA and at one, we've got a few families who have either SAHMs or one parent that works PT. I ask this, why should we continue to give, when these families aren't asked to change their lifestyles to make sacrifices for this privilege? Again, as many of these discussions conclude, private school is not a right. It takes a lot of money and in most cases, a lot of sacrifice to do this for our kids. I hate watching these families take advantage of us.

Yes, but FA applications assign a "salary" to the non-working spouse that is factored into the household expected contribution. I think it is around $35,000-$40,000, but I'm not sure. I would think that a part-time working spouse would also be assigned a "full-time" salary to the family's HHI.


How do you know that these families with SAHM or part-time working spouses receive FA?

In my case they said it and their kids said it. Homes ranged from 1.5 to over 2m. Vacations in Europe/Carribean etc, new cars for themselves and/or kids.

something about this just doesn't smell right. can't see a family in a $2M home being approved for FA. Not worth the risk for a school

I don't understand how it's possible. I've played around with the online version of the financial aid form most private schools require. It allows you to plug in income, etc. and family size, and get back expected family contributions. I don't see how you could pull the income it would require to make payments on a 2M house and qualify for much aid (if any). Does anyone know how this is happening?

I fully support the idea of a "sliding scale," if by that we mean use of a formula that calculates reasonable burden for a particular income level and then allows schools to meet the seen "need" when they consider an application. On paper, this is how it works everywhere. So I am really, really curious: IF this is true, HOW is it being done? Is it possible people having reason to lying in their boasts? I'm genuinely puzzled.

[Anonymous]

* Is it possible people have reason to lie in their boasts?

Sorry for the typos.

[Anonymous]

Educational consultants have different packages for their services (whole, 3/4, 1/2, 1/4, howdedo)?

Sorry, I can't continue...I am laughing so hard.