Financial Aid Question

[Anonymous]

Financial aid is how these schools throw bread crumbs at the peasants. Unless you want your kid to be the token financial aid kid in the class, you might want to reconsider your options. Consider who their peers will be and what school will be like.

[Anonymous]

Just explain your situation in the family letter section and they will likely understand

[Anonymous]

Anonymous wrote:I do agree it is pretty interesting that DCPS government employee doesn't value DC public schools. Would you please explain why you are opting out of DCPS for your family.

There are so many DC or Federal government employees who are at private schools. Their grants are paid by their parents.

[Anonymous]

Anonymous wrote:I have a question about my families' ability to qualify for aid. Our HHI is about 200k, we both work for DC government and don't expect our salaries to increase any time soon. We can only afford to live in DC because a home was passed down to us from our grandparent however the home needs major improvements upwards of 350k or more. It has not been renovated since the 1980's. Currently there is no mortgage on the home and we want to take a home equity loan out to cover the renovations. My question is will we be able to earmark the cash that comes from the loan for home improvement and it not look like this money can be used towards tuition payments. The other option is to wait on taking the loan out but then my family will appear to be able to pay more tuition and we need to renovate our home before it becomes inhabitable.

Inherited a DC property worth over a million dollars, makes $200k, and the question is how to structure the balance sheet to qualify for a scholarship. Incredible.

[Anonymous]

Anonymous wrote:If you can’t afford it why do you want to ask the school to cover your bills? You should figure out how to afford it yourself and use financial aid as a last resort. Can you increase your income?

Some people are always looking for a handout

[Anonymous]

Anonymous wrote:If you can’t afford it why do you want to ask the school to cover your bills? You should figure out how to afford it yourself and use financial aid as a last resort. Can you increase your income?

What an idiot.

[Anonymous]

Anonymous wrote:I do agree it is pretty interesting that DCPS government employee doesn't value DC public schools. Would you please explain why you are opting out of DCPS for your family.

Are you really this dumb? Plenty of MCPS teachers send their kids to private schools for all types of reasons. DCPS employees have the same rights as everyone else.

[Anonymous]

Anonymous wrote:Financial aid is how these schools throw bread crumbs at the peasants. Unless you want your kid to be the token financial aid kid in the class, you might want to reconsider your options. Consider who their peers will be and what school will be like.

Don’t listen to this person.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I have a question about my families' ability to qualify for aid. Our HHI is about 200k, we both work for DC government and don't expect our salaries to increase any time soon. We can only afford to live in DC because a home was passed down to us from our grandparent however the home needs major improvements upwards of 350k or more. It has not been renovated since the 1980's. Currently there is no mortgage on the home and we want to take a home equity loan out to cover the renovations. My question is will we be able to earmark the cash that comes from the loan for home improvement and it not look like this money can be used towards tuition payments. The other option is to wait on taking the loan out but then my family will appear to be able to pay more tuition and we need to renovate our home before it becomes inhabitable.

Inherited a DC property worth over a million dollars, makes $200k, and the question is how to structure the balance sheet to qualify for a scholarship. Incredible.

I missed where OP said the property is worth over a million dollar--lemme read again because reading is fundamental. Not every property in DC is a cash cow.

[Anonymous]

Why not take a 1st mortgage on the house to cover the renovations? Usually, they have much better interest rates than home equity lines, and it probably simplifies the FA application.

[Anonymous]

Even if they made more money they would still want the free money. That is because for the upper crust it's all just fun and games while poor people really put in the work. I don't think poor people should worship hanging out with richers. If anything rich people should be shamed

[Anonymous]

Anonymous wrote:]

I missed where OP said the property is worth over a million dollar--lemme read again because reading is fundamental. Not every property in DC is a cash cow.

Well I hope it is if they're spending $350k on renovations.

[Anonymous]

Anonymous wrote:I have a question about my families' ability to qualify for aid. Our HHI is about 200k, we both work for DC government and don't expect our salaries to increase any time soon. We can only afford to live in DC because a home was passed down to us from our grandparent however the home needs major improvements upwards of 350k or more. It has not been renovated since the 1980's. Currently there is no mortgage on the home and we want to take a home equity loan out to cover the renovations. My question is will we be able to earmark the cash that comes from the loan for home improvement and it not look like this money can be used towards tuition payments. The other option is to wait on taking the loan out but then my family will appear to be able to pay more tuition and we need to renovate our home before it becomes inhabitable.

Depends how strict the financial aid office is. What kind of loan? Will it show up on your taxes? Is it truly a - renovate now or the home will become uninhabitable situation? I find that more context in the application is better so use the additional comments section. Also ask yourself are you really prioritizing education in your budget.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I have a question about my families' ability to qualify for aid. Our HHI is about 200k, we both work for DC government and don't expect our salaries to increase any time soon. We can only afford to live in DC because a home was passed down to us from our grandparent however the home needs major improvements upwards of 350k or more. It has not been renovated since the 1980's. Currently there is no mortgage on the home and we want to take a home equity loan out to cover the renovations. My question is will we be able to earmark the cash that comes from the loan for home improvement and it not look like this money can be used towards tuition payments. The other option is to wait on taking the loan out but then my family will appear to be able to pay more tuition and we need to renovate our home before it becomes inhabitable.

Inherited a DC property worth over a million dollars, makes $200k, and the question is how to structure the balance sheet to qualify for a scholarship. Incredible.

+1

[Anonymous]

Anonymous wrote:

Anonymous wrote:Yup. Americas education system is just like BMWs. That is Burger King, Mc Donald's and Walmart. They are expensive, corrupt, and aimed at keeping poor people poor and unhealthy.

Probably because leaders draw $200k salaries running school districts into the ground and sending their own kids to private schools at someone else's expense.

+1 I really hope OP does not get financial aid.