FA shouldn't go to people with 1 million dollar houses

[Anonymous]

My God, you would think reason would kick in at some point. Liquidated? Legally encumbered?

It's $700 thousand equity. You want to imagine the absurd, go ahead. I want this cry baby free loading victim off the financial aid roles so the money can go to the family living within their means.

[Anonymous]

Meant rolls.

[Anonymous]

Anonymous wrote:My God, you would think reason would kick in at some point. Liquidated? Legally encumbered?

It's $700 thousand equity. You want to imagine the absurd, go ahead. I want this cry baby free loading victim off the financial aid roles so the money can go to the family living within their means.

Yes, you would think reason would be a factor. I can't argue with you any further, as I'm not supposed to pick on someone who's not my size (mentally).

[Anonymous]

Your response made no sense.

[Anonymous]

The person with 700k equity cannot have 700k equity and still qualify for FA. It isn't possible. So either the equity is somehow not touchable (the house is not in their name perhaps), has additional encumberances as mentioned by PP (like mortgages you don't know about or a tax lien or something), or the value and numbers are not as you say. or the person with the supposed equity is not disclosing their assets and is subject to losing all their aid for lying/being proecuted for tax fraud/etc.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I agree with you OP. I want all of the private schools to have more children of color. I would like more FA money going to them and NONE to people who don't need/deserve it. Why should I live like "cheapy charlie" and no luxuries in my tiny house and no car...to support someone who has milked the system all the way through.

you sound extremely ignorant... and this is coming from a person of color who does NOT receive financial aid. idiot.

_____________________________________________________________________
You sound really angry and hostile. I never said all kids of color get financial aid. I said I wanted more minorities in the private schools...in order to make that happen...more FA is needed. Now who is the idiot? You!

[Anonymous]

You are the idiot, for saying that you wanted more children of color going to your school, and you want financial aid going to them. Color does not equal income.

[Anonymous]

You are dim

[Anonymous]

If a person is in a $1M house, then either of the following is true:

1. They are paying, what, $6K per month on the mortgage, depending on the downpayment.
2. They have $700K in equity. (And to the person who said that in this market the $700K is worth less -- well then, it's not a $1M house anymore, either.)

In the first case, they should be using that $6K on tuition instead of mortgage payments. In the second case, they should dip into equity.

FA officers realize this. They will, however, make exceptions for the expensive medical treatments, whether the family has tons of kids, whether the parents are supporting 4 aging grandparents and they need the extra rooms in a larger house for putting the grandparents in, and things like that.

But without a good reason, a $1M house is a hard sell no matter how you look at it.

[Anonymous]

19:34 here again. Of course, it's possible that OP is just a troll, winding us all up. That was my first reaction when I read her post.

[Anonymous]

She is a troll. Who has the time to go online and get the value of other people's houses just to rant about it?

But it hit close to home so I have sadly fed the beast.

It isn't as if the FA offices are so stupid and blind. The money is not just handed out to anyone who applies. Plenty of people had their FA requests denied this year.

[Anonymous]

Okay, I just have to laugh, 23:32. Who has the time to zillow a house value and rant about it?

You guys spend half the day posting on anonymous forum...playing word games, perseverating about private school admissions, putting down people's shaving habits, complaining about your husbands, offering holier than thou advice on child rearing to anyone who demonstrates frailty...and you wonder who has the time?

The OP zillowed a house value and was upset about a family receiving financial aid who lived in a $1 million house. To me that seems like a rather legitimate post.

[Anonymous]

Anonymous wrote:

Anonymous wrote:/quote]

Well said. We all should allow for the FA-recipients to maintain their personal dignity. What you think appears to be a posh lifestyle may just be a facade over a reality of scrimping and saving. The fancy trip someone brags about may not have happened; her family may have driven to a relatives' house for the holidays and stayed their cheaply. Do you really begrudge her renting a gold BMW instead of a cheaper car if it makes her and her children feel they fit in better in the drop-off-pick-up lane at school? To insist that she never go out for a restaurant meal becuse it is cheaper to cook at home? All this is just cavilling. Best to mind your own business and live straight yourself.

Umm . . . yeah, I do. If someone is receiving financial aid from a school, I don't think they should be renting a luxury car. To me, financial aid is something that is appropriate when other options have been exhausted, and the family has made sacrifices to afford the school on their own. Renting a luxury car (so they "feel they fit in?!?!?!") is guaranteed to rub me the wrong way. FA shouldn't subsidize a family's luxurious lifestyle. If they don't care enough to prioritize their kids' educations over fancy cars, travel, and other luxuries, why should the school (and, by extension, other families who contribute to the scholarship fund) pay for it?

I can't believe I got sucked in to responding to a post which, upon reflection, cannot possibly be serious.

[Anonymous]

Even if OP is a troll, and I do not believe she/he is, posts from others, including insiders at schools, suggest OP is on to something!

[Anonymous]

Anonymous wrote:

I am not, however, thrilled about supporting the mortgage payment for a Georgetown row house for a family that makes more than I do. Financial aid is not just sitting in a magical pot. It is funded, and people have the right to hope that these funds are targeted toward those with need, just as we have the right to hope that any aid is targeted efficiently.

Ding, ding, ding!!!

No more calls, we have a winner. This captures the point exactly, and can be expanded to cover fancy cars, expensive vacations and haute coture.