People with $1.2M+ homes and getting significant financial aid

[Anonymous]

+1. Also how do you have any self respect living entirely off other people (in laws AND FA donors)

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am a GS-12 Fed with a stay-at-home wife, and we live in a 4M+ McLean neighborhood that is owned by her parents (no mortgage). They also pay property taxes, maintenance, landscape, and upkeeping of the house. We are only responsible for electricity and water bills. I have three kids at two different big3 private, and they each receive about 90% of the financial aid. Her parents pay the remaining 10% of the tuition.

You're not worried about identifying yourself online?

NP, but this isn’t really a distinction here. Lots of families I know fit this bill at my child’s school.

I actually do not think that is true and I think you are a troll-- for you to be GS 12 maintaining a 4mm home, well there is your after-tax income. I would estimate that in one of the big 3 classes, maybe 10% live in 4mm+ homes, and maybe 25% have a real estate portfolio over 4M. Also, new builds in McLean are 4M, and very few homes that would have been owned by the past generation are 4M. Property taxes on a 4M home in McLean are about 4x12 = $48,000 per year. Utilities will run about 1k per month so $12,000 per year, lawn maintenance is about 1k per month for 6 months per year, so $6,000 per year, general upkeep on a home of that size could range from 10k to 50k per year. This claim on the low end comes out to be about $76,000 per year and a GS 12 salary is 131k before taxes, so 91k after taxes. I just DO NOT believe this. Also, your wife thinks you are a huge loser if this is actually true that you are living off her parents and are a grown up who has maxed out as like a true adult with three kids as a GS12. So odd.

Didn't you read the post. The inlays pay for almost all of it. The poster wrote, "They also pay property taxes, maintenance, landscape, and upkeeping of the house. We are only responsible for electricity and water bills."

I can totally believe this is poster is real. This is why Warren Buffet won't leave his heirs much money. He said he wanted to leave enough money so they could do anything but not so much money that they could do nothing.

My cousin is married to someone who grew up like this. Grandparents were wealthy and paid for their house and private school. Trust fund parent never really worked. There wasn't enough money for cousin's spouse not to work. It has been a hard reckoning for the spouse to grow up in luxury, go to the most expensive school, spend vacations flying first class and skiing or going to amazing resort, have family vacation homes to living a regular middle class life. Their kids go to public school. The trust fund parent is burning through the inheritance and doesn't pay for their grandchildren's education.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am a GS-12 Fed with a stay-at-home wife, and we live in a 4M+ McLean neighborhood that is owned by her parents (no mortgage). They also pay property taxes, maintenance, landscape, and upkeeping of the house. We are only responsible for electricity and water bills. I have three kids at two different big3 private, and they each receive about 90% of the financial aid. Her parents pay the remaining 10% of the tuition.

You're not worried about identifying yourself online?

NP, but this isn’t really a distinction here. Lots of families I know fit this bill at my child’s school.

I actually do not think that is true and I think you are a troll-- for you to be GS 12 maintaining a 4mm home, well there is your after-tax income. I would estimate that in one of the big 3 classes, maybe 10% live in 4mm+ homes, and maybe 25% have a real estate portfolio over 4M. Also, new builds in McLean are 4M, and very few homes that would have been owned by the past generation are 4M. Property taxes on a 4M home in McLean are about 4x12 = $48,000 per year. Utilities will run about 1k per month so $12,000 per year, lawn maintenance is about 1k per month for 6 months per year, so $6,000 per year, general upkeep on a home of that size could range from 10k to 50k per year. This claim on the low end comes out to be about $76,000 per year and a GS 12 salary is 131k before taxes, so 91k after taxes. I just DO NOT believe this. Also, your wife thinks you are a huge loser if this is actually true that you are living off her parents and are a grown up who has maxed out as like a true adult with three kids as a GS12. So odd.

Didn't you read the post. The inlays pay for almost all of it. The poster wrote, "They also pay property taxes, maintenance, landscape, and upkeeping of the house. We are only responsible for electricity and water bills."

I can totally believe this is poster is real. This is why Warren Buffet won't leave his heirs much money. He said he wanted to leave enough money so they could do anything but not so much money that they could do nothing.

My cousin is married to someone who grew up like this. Grandparents were wealthy and paid for their house and private school. Trust fund parent never really worked. There wasn't enough money for cousin's spouse not to work. It has been a hard reckoning for the spouse to grow up in luxury, go to the most expensive school, spend vacations flying first class and skiing or going to amazing resort, have family vacation homes to living a regular middle class life. Their kids go to public school. The trust fund parent is burning through the inheritance and doesn't pay for their grandchildren's education.

This describes a lot of people I went to private school with- the parents had jobs or one SAHP but really the grandparents paid for their huge expensive houses, cars and most of the house upkeep. Their parents just paid for the food and utilities. Definitely qualifies for private school financial aid, and the grandparents would give parents cash to pay tuition.

My middle class parents received no FA and really had no business sending me to private school. At least I learned some helpful lessons there, like how the rich do these sorts of things.

[Anonymous]

Anonymous wrote:Another major factor to consider is that the truly poor of Washington don't apply to the elite privates because they have no desire to attend them--free or not.

I work full time with poor families in DC and let me tell you-- they don't sit around thinking about how amazing it would be to schlep an hour+ each way (if they even can as they don't have cars and there isn't direct public transportation) to upper NW and go to a private school that requires 3-4 hours of homework per night in a class full of kids with parents who are lobbyists and law firm partners.

They literally don't want this. AT ALL.

Not true at all. There are some that would gladly do it if it benefitted their kids but lets be real, they aren't welcome and they know it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Another major factor to consider is that the truly poor of Washington don't apply to the elite privates because they have no desire to attend them--free or not.

I work full time with poor families in DC and let me tell you-- they don't sit around thinking about how amazing it would be to schlep an hour+ each way (if they even can as they don't have cars and there isn't direct public transportation) to upper NW and go to a private school that requires 3-4 hours of homework per night in a class full of kids with parents who are lobbyists and law firm partners.

They literally don't want this. AT ALL.

Not true at all. There are some that would gladly do it if it benefitted their kids but lets be real, they aren't welcome and they know it.

I assume you work closely with these families?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Don’t worry about what someone else is getting, worry about what you are getting,

The problem is people with lower incomes and cheaper houses, etc. are not getting it because of greedy wealthy people.

No. People with lower incomes and cheaper houses are not getting it because of decisions made by the school on who receives it. It’s been said like a dozen times on this thread. The schools could give free rides to people who cannot afford anything instead of partial assistance to people who can pay the remaining balance, yet they don’t. Think about why.

We know why. They want to pretend they believe in all the good values they preach but in reality they self-segregate and don't want anyone in there who doesn't look or live like them. Why would you want your kid in some of those environments?

Ummmm. . . because the public schools were we live have gotten horrible?
Both my husband and I went to public but neither of us feels comfortable with putting our DC in our local school given the state it's in.

[Anonymous]

One way that donors make a real difference is to set up very specific funds to honor the population of students that they hope to help. For example, many schools have named funds going to support tuition for children of faculty.

But maybe you want to support the kids receiving FA of 75+ %? So maybe you set up a fund augmenting their experience (for example, each FA family gets a set of printed photos from picture day or a couple books from the bookstore, etc) or taking a barrier away from these families (sponsoring free before and after care for select students or setting up a fund to be used by families in case of medical emergency).

There are a lot of barriers for the families who receive large percentages of FA that make it difficult to send their children to local private schools. If you prefer to support only the families you consider "worthy" of FA, the answer isn't to stop giving, but to give in ways that small things could make a huge differrence in the lives of real people (who don't have million dollar houses or rich family members) in your school community.

[Anonymous]

This is everything that’s wrong with America.

Anonymous wrote:I am a GS-12 Fed with a stay-at-home wife, and we live in a 4M+ McLean neighborhood that is owned by her parents (no mortgage). They also pay property taxes, maintenance, landscape, and upkeeping of the house. We are only responsible for electricity and water bills. I have three kids at two different big3 private, and they each receive about 90% of the financial aid. Her parents pay the remaining 10% of the tuition.

[Anonymous]

Anonymous wrote:One way that donors make a real difference is to set up very specific funds to honor the population of students that they hope to help. For example, many schools have named funds going to support tuition for children of faculty.

But maybe you want to support the kids receiving FA of 75+ %? So maybe you set up a fund augmenting their experience (for example, each FA family gets a set of printed photos from picture day or a couple books from the bookstore, etc) or taking a barrier away from these families (sponsoring free before and after care for select students or setting up a fund to be used by families in case of medical emergency).

There are a lot of barriers for the families who receive large percentages of FA that make it difficult to send their children to local private schools. If you prefer to support only the families you consider "worthy" of FA, the answer isn't to stop giving, but to give in ways that small things could make a huge differrence in the lives of real people (who don't have million dollar houses or rich family members) in your school community.

Unless it's a bigger-ish donation, they are not going to let you micromanage your donation. I.e. you can't just donate $1000 and say it is for class photos for the kids on 75%+ financial aid.

[Anonymous]

I think that schools want to ensure they get a good mix of candidates and those whose parents fall in the middle might choose not to even bother applying otherwise. Getting some small % of financial aid takes the sting out, enough to make it worthwhile to apply. this results in a more balanced student body. This is just a guess! We are not getting financial aid. So I don't really know. But it doesn't bother me. I'm sure the schools have a system that works and it's not really everyone's business to be mad or judgy. (well, maybe it's DCUM's business ha)

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am a GS-12 Fed with a stay-at-home wife, and we live in a 4M+ McLean neighborhood that is owned by her parents (no mortgage). They also pay property taxes, maintenance, landscape, and upkeeping of the house. We are only responsible for electricity and water bills. I have three kids at two different big3 private, and they each receive about 90% of the financial aid. Her parents pay the remaining 10% of the tuition.

You're not worried about identifying yourself online?

NP, but this isn’t really a distinction here. Lots of families I know fit this bill at my child’s school.

I actually do not think that is true and I think you are a troll-- for you to be GS 12 maintaining a 4mm home, well there is your after-tax income. I would estimate that in one of the big 3 classes, maybe 10% live in 4mm+ homes, and maybe 25% have a real estate portfolio over 4M. Also, new builds in McLean are 4M, and very few homes that would have been owned by the past generation are 4M. Property taxes on a 4M home in McLean are about 4x12 = $48,000 per year. Utilities will run about 1k per month so $12,000 per year, lawn maintenance is about 1k per month for 6 months per year, so $6,000 per year, general upkeep on a home of that size could range from 10k to 50k per year. This claim on the low end comes out to be about $76,000 per year and a GS 12 salary is 131k before taxes, so 91k after taxes. I just DO NOT believe this. Also, your wife thinks you are a huge loser if this is actually true that you are living off her parents and are a grown up who has maxed out as like a true adult with three kids as a GS12. So odd.

Didn't you read the post. The inlays pay for almost all of it. The poster wrote, "They also pay property taxes, maintenance, landscape, and upkeeping of the house. We are only responsible for electricity and water bills."

I can totally believe this is poster is real. This is why Warren Buffet won't leave his heirs much money. He said he wanted to leave enough money so they could do anything but not so much money that they could do nothing.

My cousin is married to someone who grew up like this. Grandparents were wealthy and paid for their house and private school. Trust fund parent never really worked. There wasn't enough money for cousin's spouse not to work. It has been a hard reckoning for the spouse to grow up in luxury, go to the most expensive school, spend vacations flying first class and skiing or going to amazing resort, have family vacation homes to living a regular middle class life. Their kids go to public school. The trust fund parent is burning through the inheritance and doesn't pay for their grandchildren's education.

They aren't living a regular middle class lifestyle. Be real.

[Anonymous]

Anonymous wrote:This is everything that’s wrong with America.

Anonymous wrote:I am a GS-12 Fed with a stay-at-home wife, and we live in a 4M+ McLean neighborhood that is owned by her parents (no mortgage). They also pay property taxes, maintenance, landscape, and upkeeping of the house. We are only responsible for electricity and water bills. I have three kids at two different big3 private, and they each receive about 90% of the financial aid. Her parents pay the remaining 10% of the tuition.

Agree, they should be paying far more than 90%.

[Anonymous]

Anonymous wrote:I think that schools want to ensure they get a good mix of candidates and those whose parents fall in the middle might choose not to even bother applying otherwise. Getting some small % of financial aid takes the sting out, enough to make it worthwhile to apply. this results in a more balanced student body. This is just a guess! We are not getting financial aid. So I don't really know. But it doesn't bother me. I'm sure the schools have a system that works and it's not really everyone's business to be mad or judgy. (well, maybe it's DCUM's business ha)

+1. It’s also recognizing financial reality. A family making $150-200k probably can’t swing a $50-60k tuition. A family making $250-300k would struggle to do this for more than one kid, etc. If the schools want these kids this is what they have to do.

[Anonymous]

Diversity is good for the school, if they go through the proper channel why is that seem unfair to you, Op?

[Anonymous]

Happens all the time at our private.