What families qualify for financial aid?

[Anonymous]

Anonymous wrote:Independent school tuition is indeed difficult on HHI of $200k ... but the question I have is whether such tuition is a "need" equivalent to food, heat, basic shelter or a "want" (albeit one I totally understand). My DC attends private with no financial aid at significantly lower HHI and I feel uncomfortable knowing that some of my tuition, not to mention annual giving, would go to help a family making almost twice as much. I assume the size of our house is somewhat different and our commute times are also different ... choices each family must make.

Trying not to be judgmental here ... one of my New Year's resolutions! ... but please consider carefully how appropriate it is to expect assistance in this case. Nonetheless, I wish you well and hope you find a school situation that truly meets both your needs and wants!

Hey, at least you have a house....

[Anonymous]

It's not an embarrassing question. More than likely, a majority of the families applying to these over priced private & independent schools are making over $200K, & the school officials know that. So, if you weren't eligible making over $200K, they wouldn't offer financial aid in the first place. I guarantee there are no low income families in any of these schools, UNLESS the schools are required to fill some QUOTA to let a certain number of low income families in on a full ride.

[Anonymous]

Anonymous wrote:It's not an embarrassing question. More than likely, a majority of the families applying to these over priced private & independent schools are making over $200K, & the school officials know that. So, if you weren't eligible making over $200K, they wouldn't offer financial aid in the first place. I guarantee there are no low income families in any of these schools, UNLESS the schools are required to fill some QUOTA to let a certain number of low income families in on a full ride.

So, with quotas, you're basically talking about scholarship students then, correct?

What about the other threads where people are claiming that their private/independent school is socio-economically diverse? Is that just a bunch of BS? For example, I believe someone said that 30% of the population at Grace Episcopal was diverse. Is that defined as diversity across financial lines?

I can't imagine that both would qualify for financial aid: a family with a dual income of $200K and one with a single parent making $65K. Would the $65K family not even make the cut? What are the guidelines?

I understand paying off school loans and finally securing a better paying job in your 40s. But if that's the case, I would think that building a nest egg would take priority, or you run the risk of becoming dependent on your children in the future - not to mention losing your home or apartment if the economy becomes worse. There have to be other schools that run lower than $30K. Why aren't they an option? What's so special about these top tier schools? Are they really that challenging?

Look at the magnet program at Montgomery Blair in Mo Co. - FILLED with geniuses! Granted, it's a test in program, but it's "free," as is the IB program at Richard Montgomery in Mo Co, which is a TRUE test-in IB program that mirrors its international sister schools. Yes, they are in Mo Co, but if you're desperate enough, you can pay out of county tuition which is about $13,000, I believe.

Maybe I'm too fiscally conservative. Our HHI is $150K, and I would never dream of spending $25-30K on tuition. That's money for college.

[Anonymous]

This is what the poster said in the Grace thread about diversity:

"Grace is about half students of color now rather than a third. I understand that about 40 families receive financial aid, which is a substantial number in a small school such as this one. So with all due respect to the PP who believes there's little diversity at Grace, at least economically, she's simply not correct. I find it very ironic that this particular school has attracted her ire, given the actual facts about the students and families there. "

http://www.dcurbanmom.com/jforum/posts/list/45/35270.page

I'm a Grace parent (but not the poster above) and diversity is not BS. I think it's important to point out that being a student of color (the 30 or 50 percent numbers referenced) does not at all equate to receiving financial aid (at Grace or I assume anywhere)! Grace has many children of color who are the sons and daughters of successful professional parents who have more than enough means to afford the tuition and make generous contributions.

As far as socioeconomic diversity, Grace's enrollment is about 250 so the 40 families quoted above (I don't personally know this number but assume it is true) is about 15% of families receiving financial aid. Grace does not offer a "full ride," everyone has to pay something--I believe the floor is 25% of tuition. (But tuition is less than the big name schools often discussed on this board, about $17k).

I've seen the calculator on the Sidwell website that shows that Sidwell has some families with HHI of $200k who receive financial aid, and I don't believe that Grace's financial aid budget is in that league--I have no personal knowledge on this but my impression is that families with a HHI that high are not receiving any financial aid at Grace. Diversity, both racial and socioeconomic, really is one of the values at Grace. But socioeconomic diversity is obviously limited by the realities of funding.

I live in Montgomery County and I don't think it is correct to say what the PP does--that someone who lives in DC can pay tuition to go to the Montgomery County highs school magnet programs. Enrollment from out of the county is limited to those schools that have space to accept the out-of-district student. The magnet programs are test-in and many more students apply than are accepted. There's not any vacancy that could be filled by someone from DC. In fact, given the extreme competitiveness to get into these programs I think there would be rioting in the streets if students who don't even live in the county were allowed to attend. The stories I have read in the Post of DC residents paying tuition to attend Montgomery County school related to regular Montgomery County high schools such as B-CC (which has an IB program that is open to all students, not one that is test-in).

[Anonymous]

At a private school is there any way to really know if the student body is economically diverse?

It seems that there are very few people who can truly afford tuition fees of $25-30K and afford meaning that you can pay full frieght without sacrificing your retirement, other savings and standard of living. If the Sidwell financial aid calculator is any indication a family of four with an adjusted gross income of $180-200K could potentially receive an award of 12K.

[Anonymous]

Anonymous wrote:This is what the poster said in the Grace thread about diversity:

"Grace is about half students of color now rather than a third. I understand that about 40 families receive financial aid, which is a substantial number in a small school such as this one. So with all due respect to the PP who believes there's little diversity at Grace, at least economically,
I live in Montgomery County and I don't think it is correct to say what the PP does--that someone who lives in DC can pay tuition to go to the Montgomery County highs school magnet programs. Enrollment from out of the county is limited to those schools that have space to accept the out-of-district student. The magnet programs are test-in and many more students apply than are accepted. There's not any vacancy that could be filled by someone from DC. In fact, given the extreme competitiveness to get into these programs I think there would be rioting in the streets if students who don't even live in the county were allowed to attend. The stories I have read in the Post of DC residents paying tuition to attend Montgomery County school related to regular Montgomery County high schools such as B-CC (which has an IB program that is open to all students, not one that is test-in).

The application process for MCPS' special programs is difficult, time consuming, and draining. (Richard Montgomery is the only test in IB program in the county, and it is truly challenging. The other IB programs are open enrollment, and although their philosophy is different, the teachers are trained by IB experts and they follow the program, too.) As far as the schools are concerned, I do personally know many teachers (who live out of county) who pay tuition so that their children can attend MCPS.

At the elementary end (which isn't my area of expertise), the language immersion program is excellent and I've known quite a few parents who have been happy with its rigor.

Riots aside, if some of the PPs are opting to pay high tuition for their children instead of planning for retirement, then MCPS programs are a "cheaper" option. Furthermore, these children - from what I'm reading on this board - seem to score in the 99th percentile. So their chances of testing into these programs are quite possibly high.

just another option to consider so that you're not breaking the bank during these rough economic times

[Anonymous]

I thought the MCPS elementary language immersion programs are by lottery. So you'd have to be in the 99th percentile of luck, not necessarily intelligence.

[Anonymous]

Anonymous wrote:I thought the MCPS elementary language immersion programs are by lottery. So you'd have to be in the 99th percentile of luck, not necessarily intelligence.

They are by lottery, but Eastern MS magnet is not - 99th percentile for brains - maybe even 100th percentile, as there are some pretty smart children who get it.

And the weird thing about the immersion programs? All of my friends (10 to be exact) who applied got in. So this lottery thing is a mystery to me.

[Anonymous]

The MCPS policy seems to be somethinig less than a sure bet for admission if you live outside the county:

5. Admission of Nonresident Students

a) Regardless of their willingness to pay tuition, nonresident students may be denied admission to the Montgomery County Public Schools…
c) Tuition rates will be established annually by the Board of Education upon the recommendation of the superintendent of schools.
d) A non-resident student applicant may request a specific school; however, MCPS reserves the right to determine the school of enrollment.

http://www.montgomeryschoolsmd.org/departments/policy/pdf/jed.pdf

It's also at the discretion of the principal and only when space is available:

Residency Compliance Services performs the following review process steps:
...3. Reviews requests for enrollment for any student living with nonresident parents/guardians willing to pay tuition provided the enrollment is approved by the principal/designee and the requested school is not overutilized and is consistent with Regulation JEE-RA: Transfer of Students. The rate and collection of tuition will be consistent with Policy JED: Residency, Tuition, and Enrollment.

http://www.montgomeryschoolsmd.org/departments/policy/pdf/jedra.pdf

The Post article says there were only 58 nonresident students county wide in 2007-2008.

http://www.washingtonpost.com/wp-dyn/content/article/2008/03/29/AR2008032901119.html

[Anonymous]

12:44 responding to 13:18:

I apologize ... I said our HHI was ALMOST half of $200k but the truth is it is $115k and that $15k is about 75 percent of private tuition so the difference is significant. I was just trying to make the point that private school can be done without aid at an income far below $200 if it is a family priority. In response to the other PP, yes, we do have a house and also are able to save for retirement and college, although obviously less so than if we did not choose private school.

The bottom line is that a HHI of $115 is substantial, even in this area, and many goals can be met although clearly not all of them simultaneously. But a higher income is always nice too!

[Anonymous]

Anonymous wrote:If our HHI is $200K, both parents work, and we have virtually no retirement or other savings and no home equity (we rent) - would we qualify for financial aid?

Would love some btdt feedback. Thanks!

The answer is that it depends. On the school, of course, particularly on the size of their endowment. Also, on how much they want your DC and family to be part of the school community.

The good news as far as this solidly middle class writer and "elite" private school parent is concerned, is that most schools want socio-economic diversity as well the other types of diversity. There seems to be a recognition that having just the very rich and the clearly not so rich (who get substantial aid) with no one in the middle is undesirable for so many reasons. Needless to say, don't expect anything close to a full ride, but enough to ease some of the financial pain.

Good luck.

[Anonymous]

Is there any way to fill out the aid application without sending it to the school, just to see if we would qualify?

[Anonymous]

I'm curious that the OP stressed their lack of home equity and savings--are home equity and retirement savings counted in the aid calculation?

[Anonymous]

Anonymous wrote:This is what the poster said in the Grace thread about diversity:

"Grace is about half students of color now rather than a third. I understand that about 40 families receive financial aid, which is a substantial number in a small school such as this one. So with all due respect to the PP who believes there's little diversity at Grace, at least economically, she's simply not correct. I find it very ironic that this particular school has attracted her ire, given the actual facts about the students and families there. "

http://www.dcurbanmom.com/jforum/posts/list/45/35270.page

I'm a Grace parent (but not the poster above) and diversity is not BS. I think it's important to point out that being a student of color (the 30 or 50 percent numbers referenced) does not at all equate to receiving financial aid (at Grace or I assume anywhere)! Grace has many children of color who are the sons and daughters of successful professional parents who have more than enough means to afford the tuition and make generous contributions.

As far as socioeconomic diversity, Grace's enrollment is about 250 so the 40 families quoted above (I don't personally know this number but assume it is true) is about 15% of families receiving financial aid. Grace does not offer a "full ride," everyone has to pay something--I believe the floor is 25% of tuition. (But tuition is less than the big name schools often discussed on this board, about $17k).

I'm the Grace parent quoted here. I want to be very clear that I was in no way equating ethnicity with financial aid status, or racial/ethnic diversity with socioeconomic diversity. (I think the PP who quoted me gets that, but I just want to be completely clear. I was just trying to make clear that diversity of both kinds does exist and is obviously valued at Grace.

[Anonymous]

Anonymous wrote:I'm curious that the OP stressed their lack of home equity and savings--are home equity and retirement savings counted in the aid calculation?

Yes.