Finacial aid at 350K HHI with high mortgages and nanny

[Anonymous]

Anonymous wrote:OP sounds like an idiot with money, who is trying to keep up with the Joneses. this question has been asked a million times, so instead of being rude OP why not do a subject search. FA determination is primarily based on gross income. The worksheet may ask re debt, and then the school will see where you spend money and expect you to make changes to cover tuition. Expensive car, they will tell you to sell it for a less expensive car. A first time home owner with 0% down on an almost million dollar loan, that will make them laugh.

This OP has to be a troll. Because if not, they will be in bankruptcy soon.

Yup, high mortgage AND credit card debt? WTF?

[Anonymous]

I would be embarrassed too. You have more than enough money for private school if you wanted it. You have opted not to manage it in a way that allows for it though. Live with your actions and don't expect others to float your lifestyle.

[Anonymous]

So you live above your means and want someone else to finance that? Unbelievable.

[Anonymous]

You should get something, I mean the poors made bad decisions having too many kids, not really anything different

[Anonymous]

finacial aid and admissions are different departments. No harm trying we got half assistance on 320k hhi

[Anonymous]

Anonymous wrote:You might get FA in that situation for a second or third kid if the school really loves your family (still, I think that's pretty rare; I've only heard of a few cases of that happening) but definitely not fir a first.

Let your full time nanny go and hire a college kid or au pair for after school. It'll save you almost enough to pay for tuition.

I don't think so. I've been in a no. of privates and have never heard of anyone with these stats. getting FA. If I had, we would have applied . In the privates we've attended, FA was reserved to lure in the minority kids to increase diversity stats.

[Anonymous]

Anonymous wrote:finacial aid and admissions are different departments. No harm trying we got half assistance on 320k hhi

But everyone in these schools talk. We could really use financial aid in our private but we would never consider applying because it would be offensive. Remember most of these teachers make less a year than the luxury SUVs parents drive.

[Anonymous]

Anonymous wrote:finacial aid and admissions are different departments. No harm trying we got half assistance on 320k hhi

People talk. A lot.

[Anonymous]

I'd like some feedback on a different situation. Hhi now is just under 200,000. The last few years it was in the 300s, but I changed jobs and took a large pay cut. I still owe about 100,000 on my grad school loans and about 50,000 due to old medical bills. Child applying to school is a very good athlete and some of the coaches have expressed strong interest.

Not looking for a lecture, we are where we are and I am fine with it. Also not looking for a handout. The public school is fine if we cannot get significant aid. But we have been encouraged by others to apply (who are not familiar with our finances) due to sons talent. Son is not a minority in case that matters. Drive a ten year old car worth about five k by the way....

[Anonymous]

Make your choices: if your mortgage costs too much to afford private and private is important to you, then sell your house and buy a cheaper one so you can afford to send your children to the school of your choice. Which your HHI would allow you to do.

Financial aid is for people who don't have the means to pay for school. You have the means, you just choose to spend it elsewhere.

[Anonymous]

Anonymous wrote:I'd like some feedback on a different situation. Hhi now is just under 200,000. The last few years it was in the 300s, but I changed jobs and took a large pay cut. I still owe about 100,000 on my grad school loans and about 50,000 due to old medical bills. Child applying to school is a very good athlete and some of the coaches have expressed strong interest.

Not looking for a lecture, we are where we are and I am fine with it. Also not looking for a handout. The public school is fine if we cannot get significant aid. But we have been encouraged by others to apply (who are not familiar with our finances) due to sons talent. Son is not a minority in case that matters. Drive a ten year old car worth about five k by the way....

If your son is being actively recruited to be an athlete for certain schools, then they will probably provide you with the financial aid to make that possible. Please apply so you do not pass up any opportunities.

[Anonymous]

Anonymous wrote:I'd like some feedback on a different situation. Hhi now is just under 200,000. The last few years it was in the 300s, but I changed jobs and took a large pay cut. I still owe about 100,000 on my grad school loans and about 50,000 due to old medical bills. Child applying to school is a very good athlete and some of the coaches have expressed strong interest.

Not looking for a lecture, we are where we are and I am fine with it. Also not looking for a handout. The public school is fine if we cannot get significant aid. But we have been encouraged by others to apply (who are not familiar with our finances) due to sons talent. Son is not a minority in case that matters. Drive a ten year old car worth about five k by the way....

You might get some. Unlike the OP, you should apply and see.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You might get FA in that situation for a second or third kid if the school really loves your family (still, I think that's pretty rare; I've only heard of a few cases of that happening) but definitely not fir a first.

Let your full time nanny go and hire a college kid or au pair for after school. It'll save you almost enough to pay for tuition.

I don't think so. I've been in a no. of privates and have never heard of anyone with these stats. getting FA. If I had, we would have applied . In the privates we've attended, FA was reserved to lure in the minority kids to increase diversity stats.

You should have applied then. I have definitely heard of several cases where this happened. Still, like I said, I think it's pretty rare.

[Anonymous]

Isn't most financial aid for schools like Potomac (with a high school) reserved for high school (or at least middle school) students to bump up diversity or recruit a talented athlete or scholar? Would financial aid be given to say, a Pre-K or K applicant unless the applicant was from an unrepresented minority group?

[Anonymous]

Anonymous wrote:Isn't most financial aid for schools like Potomac (with a high school) reserved for high school (or at least middle school) students to bump up diversity or recruit a talented athlete or scholar? Would financial aid be given to say, a Pre-K or K applicant unless the applicant was from an unrepresented minority group?

Yes, most financial aid in the privates is reserved for minority candidates so the school can boost its diversity claims. In some schools, the auction proceeds go into the same pool.