ok, don't crucify me.. question about financial aid.

[Anonymous]

Do you think we should give her FA so that her hubby could save tons on tax?

[Anonymous]

If she discloses all of this on her application and the school determines they have a need, then I am OK with it.

[Anonymous]

Anonymous wrote:Add me to the list of people who suspect that the FA-receiving country-club tennis-playing SAHM is a myth. If by some chance it actually is true, then there is some circumstance that isn't being explained here or that the poster isn't aware of. Financial aid offices aren't stupid, and they don't love giving money to families who don't actually need it.

I know one family for sure at a Big three that this is true.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Add me to the list of people who suspect that the FA-receiving country-club tennis-playing SAHM is a myth. If by some chance it actually is true, then there is some circumstance that isn't being explained here or that the poster isn't aware of. Financial aid offices aren't stupid, and they don't love giving money to families who don't actually need it.

I know one family for sure at a Big three that this is true.

Yes true - club member, non-working mom, and receives aid.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Add me to the list of people who suspect that the FA-receiving country-club tennis-playing SAHM is a myth. If by some chance it actually is true, then there is some circumstance that isn't being explained here or that the poster isn't aware of. Financial aid offices aren't stupid, and they don't love giving money to families who don't actually need it.

I know one family for sure at a Big three that this is true.

Yes true - club member, non-working mom, and receives aid.

How do you know? Did she tell you? I receive aid and there's no way you could tell from looking at me and my kids. On the flip side, there are shabbily dressed parents and kids in 10 year old hondas who are full pay. If this individual was a club member and running her mouth off about how she receives aid , the financial aid office would have heard about it by now and stopped it. Plus this is DC, as evidenced by comments in this forum, it's full of haters so by now someone would have "anonymously" complained about this.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Add me to the list of people who suspect that the FA-receiving country-club tennis-playing SAHM is a myth. If by some chance it actually is true, then there is some circumstance that isn't being explained here or that the poster isn't aware of. Financial aid offices aren't stupid, and they don't love giving money to families who don't actually need it.

I know one family for sure at a Big three that this is true.

Yes true - club member, non-working mom, and receives aid.

How do you know? Did she tell you? I receive aid and there's no way you could tell from looking at me and my kids. On the flip side, there are shabbily dressed parents and kids in 10 year old hondas who are full pay. If this individual was a club member and running her mouth off about how she receives aid , the financial aid office would have heard about it by now and stopped it. Plus this is DC, as evidenced by comments in this forum, it's full of haters so by now someone would have "anonymously" complained about this.

+1

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Add me to the list of people who suspect that the FA-receiving country-club tennis-playing SAHM is a myth. If by some chance it actually is true, then there is some circumstance that isn't being explained here or that the poster isn't aware of. Financial aid offices aren't stupid, and they don't love giving money to families who don't actually need it.

I know one family for sure at a Big three that this is true.

Yes true - club member, non-working mom, and receives aid.

How do you know? Did she tell you? I receive aid and there's no way you could tell from looking at me and my kids. On the flip side, there are shabbily dressed parents and kids in 10 year old hondas who are full pay. If this individual was a club member and running her mouth off about how she receives aid , the financial aid office would have heard about it by now and stopped it. Plus this is DC, as evidenced by comments in this forum, it's full of haters so by now someone would have "anonymously" complained about this.

I would really hope no school wastes resources tracking down anonymous complaints on aid. When it comes down to it, nobody will complain due to the potential backlash that would occur for throwing a fellow parent or club member under the bus. As far as non-working parents, the formulas for aid calculates an estimated salary for that parent. Small estimated salary, but it is included as income.

[Anonymous]

The "let's not worry about FA for low-income families because they're going to have a hard time fitting in a school with almost exclusively upper-class and upper-middle class families" view of certain PPs is so frustrating and backwards IMO.

To me, it's basically the same type of logic as not racially integrating schools because the minority students would have a tough time fitting in the overwhelmingly white classrooms. Or not having women in the military because it's dominated by men.

[Anonymous]

Anonymous wrote:The "let's not worry about FA for low-income families because they're going to have a hard time fitting in a school with almost exclusively upper-class and upper-middle class families" view of certain PPs is so frustrating and backwards IMO.

To me, it's basically the same type of logic as not racially integrating schools because the minority students would have a tough time fitting in the overwhelmingly white classrooms. Or not having women in the military because it's dominated by men.

I dont think anyone said dont worry about them. I would think that is an awful view as well. I think the question was are there really that high of a number of low income families applying for aid at elite schools that they could sufficiently take up all the aid available to the extent that offering aid to higher income families is truly unreasonable. And if they are NOT applying in high enough numbers to use up the school's aid budget entirely or significantly on them...then why are they not applying or focusing on these schools? I believe prior posters were trying to guess as to the reasons why they may not be applying en mass.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Didn't a SAHM say herself that her lawyer husband deferred his salary for 10 years or longer or in some kind of IRA account (to reduce tax) and her kids are getting 25% to 50% FA? And they live in a very good NW DC public school area too.

This is not a myth.

And the school give her kids FA in hope that they will donate in the future? Or that they have some cloud and some benefits for the school to have her kids there.

The schools of cause are not stupid.

This is different than what has been discussed (i.e., a SAHM who plays tennis at her expensive country club three times a week). The poster who said she was a SAHM with a hubby who deferred his salary never mentioned owning an expensive country club membership or playing tennis three times a week. Is it is that hard to believe she might have actually been at home raising her kids? For what is worth, living in a very good NW DC public school area does not necessarily mean its the right school or environment for every child that lives in that area. Many of us choose private schools for reasons that have nothing to do with whether the public school is good (i.e., small class size, no state testing, religious affiliation, etc.)

Also, that poster (who has posted repeatedly) has also said they have multiple kids in the school and get 10% in aid. Our younger child's school gives a 10% tuition discount for siblings without any aid application at all. Their school may well have a similar policy, or may offer aid to families with siblings who apply independent of need as an incentive to keep all of the kids there. What is clear is that if they are actually submitting an application, they are submitting their tax returns, which will show the IRA contributions. It's not like it's hidden, unless they're outright lying to the IRS.

[Anonymous]

Assuming for the sake of argument that you're correct and the number of lower-income applicants to private schools is low, shouldn't these schools be ramping up efforts (more than they already do) to promote the idea that lower-income families are indeed welcome and shouldn't let their financial situations be a deterrent? That is, if they're truly committed to having more than simply a token percentage of lower-income families in the school's community and not simply paying lip service.

I know colleges are much more deep-pocketed given their vast endowments, but for example, Stanford is remarkably explicit about the financial aid issue on their website about parent contribution:

Zero Parent Contribution for Parents with Income Below $65,000

For parents with total annual income below $65,000 and typical assets for this income range, Stanford will not expect a parent contribution toward educational costs. Students will still be expected to contribute toward their own expenses from their summer income, part-time work during the school year, and their own savings.

Tuition Charges Covered for Parents with Income Below $125,000

For parents with total annual income below $125,000 and typical assets for this income range, the expected parent contribution will be low enough to ensure that all tuition charges are covered with need-based scholarship, federal and state grants, and/or outside scholarship funds.

Families with incomes at higher levels (typically up to $225,000) may also qualify for assistance, especially if more than one family member is enrolled in college. We encourage any family concerned about the ability to pay for a Stanford education to complete the application process. If we are not able to offer need-based scholarship funds we will recommend available loan programs.

I know private schools don't have the money to make this same kind of statement, but one must think they can signal a similar kind of commitment in other tangible ways.

[Anonymous]

Anonymous wrote:Assuming for the sake of argument that you're correct and the number of lower-income applicants to private schools is low, shouldn't these schools be ramping up efforts (more than they already do) to promote the idea that lower-income families are indeed welcome and shouldn't let their financial situations be a deterrent? That is, if they're truly committed to having more than simply a token percentage of lower-income families in the school's community and not simply paying lip service.

I know colleges are much more deep-pocketed given their vast endowments, but for example, Stanford is remarkably explicit about the financial aid issue on their website about parent contribution:

Zero Parent Contribution for Parents with Income Below $65,000

For parents with total annual income below $65,000 and typical assets for this income range, Stanford will not expect a parent contribution toward educational costs. Students will still be expected to contribute toward their own expenses from their summer income, part-time work during the school year, and their own savings.

Tuition Charges Covered for Parents with Income Below $125,000

For parents with total annual income below $125,000 and typical assets for this income range, the expected parent contribution will be low enough to ensure that all tuition charges are covered with need-based scholarship, federal and state grants, and/or outside scholarship funds.

Families with incomes at higher levels (typically up to $225,000) may also qualify for assistance, especially if more than one family member is enrolled in college. We encourage any family concerned about the ability to pay for a Stanford education to complete the application process. If we are not able to offer need-based scholarship funds we will recommend available loan programs.

I know private schools don't have the money to make this same kind of statement, but one must think they can signal a similar kind of commitment in other tangible ways.

the upfront nature of this is better in my opinion

[Anonymous]

But they can't be. They simply can't promise to meet demonstrated need. It's apples and oranges.

[Anonymous]

Omg, really you're comparing Stanford to private k-8 and K-12 schools! The vast majority of independent schools cannot afford this model or this structure. It all depends on who applies that year and how big the constantly fluctuating pot of money they have to distribute. Only schools with huge endowments like the New England boarding schools post financial aid guidelines. I've only see one miniscule private in this area explicitly state on their site that only those families earning less than a total HHI of $150,000 can apply for aid.

[Anonymous]

OMG, did you not read carefully enough to see that I caveated the Stanford example with "I know colleges are much more deep-pocketed given their vast endowments" and "I know private schools don't have the money to make this same kind of statement"?

The fact that PK-12, K-8, etc. schools may not have the same endowment or FA budgets doesn't change anything. No one is expecting them to be exactly like Stanford or other deep-pocketed colleges, but one must think that there are other ways for them to signal a true commitment to encouraging application and matriculation in greater numbers by lower-income families.

I have a hard time believing that lower-income students or their families are somehow inherently unsuited or less well-suited for private school than others. If they have a hard time adapting or fitting in, that's on the school and its community to do better IMO.