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Quick question on grand parents contributions to school ….
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Anonymous
| Most of our friends whose kids are in private school are there because grandparents are paying. |
Anonymous
| Our parents help us pay tuition (they cover about 1/3) and don’t donate separately to the school, except the occasional small arts booster donation given through the QR code on the play or musical program. |
Anonymous
| But when you apply for financial aid. Is it necessary to disclose grandparents contributions? Or they do not even ask about it? |
Anonymous
| The schools ask in financial aid applications if you expect to get any help outside of the school financial aid from family. Whether you disclose the truth is up to you. |
Anonymous
| Financial aid in private schools tend to be very stingy, so I guess there is an incentive to underreport family aid. Otherwise the school may want the family to fully provide financial aid. |
Anonymous
| This is why 6 percent inflation happens. It is what the baby boomer generation can tolerate - no pushback from parents (just like you do not push back against your hospital bill since your insurance company (hopefully) is paying). I understand the inheritance tax angle but I don’t like it. I might well do the same thing if I had the money when I was older but it would definitely change my adult children’s behavior and would probably change the dynamic of the relationship. |
Anonymous
+1. |
Anonymous
| I think it’s pretty common. I know 3 people in my daughter’s grade whose grandparents pay (I’m close friends with them and they’ve mentioned it but I don’t know details) so I assume there are more I don’t know about. It’s not like this comes up among casual friends. But I also know from our financial planner that it’s common among his wealthy clients as a way to gift money without it “counting” towards the yearly gift they can make. |
Anonymous
| Financial contribution or "cash gifts" are reported to FA applications. Most people who have grandparents pay are fullpay |
Anonymous
Damn, there are some circles I’m clearly not a part of. |
Anonymous
FIFY |
Anonymous
|
My grandparents paid for all of my school and two years of my kids' directly to the school for estate planning reasons. Since then, we have paid for the kids' schooling without help from my parents, as there is not an estate planning advantage for them.
We did not apply for financial aid, so not sure whether disclosure was needed. |
Anonymous
|
My parents pay for 3 kids. They'd prefer to give us money now then upon their deaths and they've always valued eduction far more than anything material. They live very simple lives.
We're not an aid family. People probably think we are based on our tuition bill and incomes (feds). |
Anonymous
Of course OP can ask any question here esp since s/he is not from the US. But it needs to be fair payback when someone comments "in my country we do X" and they never name their freaking country. You have to ID your country and answer honest questions too. Can't be all that if you're here. |
Anonymous
| And how to force OP to do that? |