Financial aid for private school - $100k+ salary?

[Anonymous]

Anonymous wrote:I've been looking into private schools and found that some list 50% of their students receive financial aid. This seemed like a very high number to me, seeing as how most people (myself included) assume private school is for rich kids and/or at least upper middle class kids. Growing up I knew my family couldn't afford private school, and if I got financial aid, I'm not sure private school is the best place for a poor kid to be (with peer pressure of clothes, designer purses for girls, etc). Anyway,...

My point here is that after researching this financial aid bit, it seems most schools are giving financial aid to families making between $120-300k/year). These families aren't paying 100% out of pocket, they pay around half. There were many reasons listed but it seems that when the economy went to shit and people didn't have as much liquid assets/disposable income, schools had to respond by offering financial
Aid to keep enrollment up.

Have you heard of this? What are your thoughts? My husband and I are in tht $ bracket (low end) and I never thought financial
Aid was even a possibility.

DD is African American. Does this have any impact on cost - since I'd imagine diversity is encouraged? I'm not going to play the black card but it would be a nice bonus. *No flames please*

Please fill me in as we come from poor backgrounds so all of these things are new to me. Thanks for your help!

OP, I made 120K when I applied for DC. I am a single parent ( father is dead) . As I needed to also pay for child care outside of school hours of 8:30 AM-3pm( at cost of about $1,000/mos), I was granted 40% FA. I paid about $1,900/mos of DC's tuition( when it was only 24k) I did not own my home or have a second car, or a retirement account or anything else that could be counted as an asset, like savings.

I sincerely doubt that a married couple making more than I did would get more FA.

[Anonymous]

Anonymous wrote:

DD is African American. Does this have any impact on cost - since I'd imagine diversity is encouraged? I'm not going to play the black card but it would be a nice bonus. *No flames please*
quote]

You people responding to PP are so gullible! Any self-respecting parent would not ask if being of a certain race impacts financial aid. Hey, I'm black...can I get a discount?
This is a troll trying to inject race into matters of private school education.

[Anonymous]

Op here and no I'm not a troll, you're an idiot. I am asking if race gives a discount since the private schools are so whitewashed I'd hope they encourage diversity like colleges do - haven't you ever been to college? It happens. Deal with it. Go ahead and flame me if you want but I'm not a troll.

[Anonymous]

Inquiring about a race "discount" = entitled idiot

[Anonymous]

I'd take a discount for being an "entitled idiot" too if they offered it. You are misunderstanding me. It was a simple question. If they don't, they don't. I'm not saying they should. Just wondering if it happens.

[Anonymous]

Anonymous wrote:I make 110k. Single parent. No one else contributing b I receive about 30% financial aid.

Also a single parent, and when my income was $110K we received about 40% aid. The next year I made about $120K and our financial aid package was about 20%.

[Anonymous]

Anonymous wrote:We got 50% at over 100,000 HHI.

I paid 50% at 80K as a single parent.

[Anonymous]

Anonymous wrote:Op here and no I'm not a troll, you're an idiot. I am asking if race gives a discount since the private schools are so whitewashed I'd hope they encourage diversity like colleges do - haven't you ever been to college? It happens. Deal with it. Go ahead and flame me if you want but I'm not a troll.

OP, at DC's school there are no poor black people. None. Only very wealthy black people ( 1 million a year in compensation, plus tens of millions in investments, etc..) , upper middle class black people as in DC 's Mom is a lawyer, Dad is an MD ( HHI 800K +), and middle class black people ( 140K combined HHI ) . The school could fill its admin slots with wealthy "minorities" , so no, black race alone does not make one more likely to get FA , than being white. I'd say most people applying are middle to upper middle class and most of the middle class ( ie; 100,000 or less a year won't get in) regardless of race because FA is limited. Good luck.

[Anonymous]

OP....if you want your DC to attend an independent school, you will have to pay your fair share regardless of your race. Financial aid is supposed to be used for people that have a "financial need." If you are interested in a particular independent school, talk to the folks in the admissions and financial aid office to get feedback based on your situation.

[Anonymous]

Op here - ok. Pp said "you have to pay your fair share regardless of race." Great, that's fine. I think being new to this, when I read online that FA is offered to encourage diversity, I understand now they mean economic diversity. It was a simple misunderstanding. I have friends who I went to college with who received $ from the school because of race (African kids, Asian) so when I was researching private schools it seemed like they may do the same type of thing. I don't doubt there are AA families that make millions like pp's said, I'm not that blind or racist. I wish people wouldn't take race conversations as racist when they aren't. Thank you everyone who posted their situation with FA awards. I understand now that if we get anything, it will be because of finances and nothing else.

[Anonymous]

Elite AAs tend to live in large urban centers. So as earlier pps have said -- there are many AAs in DC making top money. Not just lawyers, doctors, but many SES level couples as well. When you add to SES salaries together...it is enough for private schools.