What kind of income receives financial aid?

[Anonymous]

Choosing to downsize to a smaller home would enable you to access home equity. I'm not saying that I would necessarily choose to do that myself. However, by buying a more expensive home (which in this area and at this time does not necessarily mean a mansion!) and then applying for financial aid ... you are asking other families help you pay for private tuition (a discretionary item) so that you can continue to live in the manner you have become accustomed. The financial aid is not from some government grant ... it is donated by families of similar economic condition to your own. I certainly sympathize with your situation ... too wealthy for aid but not too wealthy! We have our DC in private school with a household income of $115k, and it's the same situation. Personnally, I would feel uncomfortable asking someone else to help pay for my child's tuition. It is a bit prideful, I guess, but I would much prefer to manage it on my own or would send DC to public school.

[Anonymous]

We make about $200,000, but have three children in private school. We get financial aid. If we didn't, more than half of our income would go to tuition. I'm very grateful for the aid and we live incredibly frugally.

[Anonymous]

19:32, did you apply for financial aid once the first child was in private school and then request additional aid after the second and third child were admitted? Or did you wait until all three children were admitted before requesting aid? We have two kids, so I'm trying to figure out the best timing for when we make our financial aid request.

[Anonymous]

Do they penalize SAHMs?

[Anonymous]

Anonymous wrote:14:47 here. No, I wasn't saying white families don't receive financial aid, nor was I saying it's based strictly on diversity. Not at all. But I think most independent schools here participate in the Black Student Fund and Latino Student Fund. Is it surprising that consideration is given to diversity in awarding financial aid? Colleges and universities give even more consideration to this and often have special funding for racial/ethnically diverse applicants, especially in grad school. In fact, the universities where I've taught offer higher salaries to minority faculty members in an effort to increase minority representation on their faculties. Am I spilling the beans here?

21:02, I think it's fantastic that you got financial aid!

What does it mean when you say they participate in the BSF or LSF? Based on my research, most people of color I know earn too much money (not saying they are wealthy) to qualify for aid through either of these organizations, so if they receive aid, it is solely through the generosity of the schools' financial aid programs.

[Anonymous]

Anonymous wrote:Do they penalize SAHMs?

The 3 schools I applied to stated in the FA materials that they expect both parents to be employed full-time once all children in the family start school FT if they are to receive FA.

[Anonymous]

14:47 here. No, I wasn't saying white families don't receive financial aid, nor was I saying it's based strictly on diversity. Not at all. But I think most independent schools here participate in the Black Student Fund and Latino Student Fund. Is it surprising that consideration is given to diversity in awarding financial aid? Colleges and universities give even more consideration to this and often have special funding for racial/ethnically diverse applicants, especially in grad school. In fact, the universities where I've taught offer higher salaries to minority faculty members in an effort to increase minority representation on their faculties. Am I spilling the beans here?

21:02, I think it's fantastic that you got financial aid!

My experience, and from the undergraduate and graduate schools I have taught at, the male faculty are paid higher than female faculty.

[Anonymous]

Anonymous wrote:With teacher salaries as low as they are, I believe teachers deserve every little perk they get, including preferential admission and financial aid for their children. Having worked as both an attorney in a big DC law firm and an elementary school teacher, there is a HUGE difference in terms of accommodations, respect, and salary (of course). Most teachers spend their own meager salaries on class school supplies and books. They often bring in their own tables, bins, books, manipulatives and whiteboards to furnish the classroom, not to mention spending their own money on stickers, pencils, paper, etc. Why not allow them to have their kids at the school where they work?

Are teachers really spending their own money for tables, books, etc., at a school that charges each student $28k/yr??

[Anonymous]

21:09 - it depends on the school and how badly the teachers want the supplies. If it's a school on a tight budget and the department doesn't deem a purchase necessary but the teacher really wants it then he/she might spend his/her own money.

[Anonymous]

Check out the thread on "Tuition increases." The absurdity of providing FA to families making over $100,000 a year is directly attributable to the inability of private schools to keep tuition in line with inflation or wages increases. Tuition increases have been exceeding both for well over a decade. Private schools need a reality check.

[Anonymous]

$100,000 gross income = what, $80K after taxes? How on earth could someone pay $28K in tuition and still support a family in this area?

[Anonymous]

to 20:02 - we applied for aid when each one started private school. We made less money than we do now when the first one started. I think it's better to apply for aid when you apply to the school. If you don't and pay the full tuition they probably won't give you aid the next year unless your income goes down significantly. If you can pay the first year, the thinking goes, why can't you pay the following year?

[Anonymous]

Anonymous wrote:to 20:02 - we applied for aid when each one started private school. We made less money than we do now when the first one started. I think it's better to apply for aid when you apply to the school. If you don't and pay the full tuition they probably won't give you aid the next year unless your income goes down significantly. If you can pay the first year, the thinking goes, why can't you pay the following year?

And some schools state that if you don't apply for FA the first year and just pay the full tuition, unless your circumstances change for the worse, expect to pay the full tuition every year.

[Anonymous]

I wonder what would happen if schools changed their financial aid rules and lowered tuition commensurately? for example, no financial aid for anyone with income under $80K but tuition of $12000. (Or however the numbers worked out ...)

Do you think that the high tuition is a status or gatekeeping thing?

[Anonymous]

14:47, not to hijack this thread, but wouldn't offering higher salaries to employees based on their race be patently illegal under Title VII, and maybe the 14th amendment in the case of a public university? By the same token, I wonder if private schools making more generous financial aid awards because of race would be violating Title VI, if those schools receive any federal funding. It is amazing what types of racial discrimination all of these institutions continue to practice in the name of "diversity" because nobody knows or speaks up about it.