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Financial aid resources when your school doesn't offer it
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Anonymous
It's a joke. Both "rocket science" and "brain surgery" are a little tired as analogies. Heard this recently at a national conference. Obviously you weren't in attendance. When someone connects the dots for you, apparently they have to do it hand-over-hand! |
Anonymous
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I don't think it is as black and white as some make it out to be. The avg grant at most schools is $12-15K. That still leaves ~$15-18K tuition responsibility for parents. To achieve "socio-economic" diversity, the grants would have to be a lot larger for a family of three or four making less than $100K to send kids to private schools. In case some of you forgot, $18K is a lot of money for the kind of people financial aid programs were originally supposed to help.
What is the answer? Do you offer larger grants to one or two people or smaller grants to 20 people? How many low income families can really afford $18K? Achieving socio-economic diversity also includes incorporating middle class families into the mix because, let's face it, a lot of middle class families can afford to pay $18-$20K/child but can not afford $30K/child. Private school tuition has risen ~38-40% in the last three years. With the excpetion of the truly wealthy and those professions that rake in six figure bonuses, other salaries have not risen proportionately to that level. I think this is why more middle class families are making a plea for financial aid. |
Anonymous
I would also argue that even the best public schools are not always a fit for all children. My local public school rates as one of the finest in the nation, but it is not a fit for my kid. Nor are tutors an adequate substitute for a quality curriculum. Fortunately we can swing the tuition for a private school, but have no idea what we would do if we could not. |
Anonymous
Similar to "Does the Pope s**t in the woods?" Some of us got it. |
Anonymous
 Exactly. Thank you.
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Anonymous
Thank you! I'm glad someone finally gets it.. |
Anonymous
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How much has the price of a yacht risen in the past three years? 1%? 2%? ~38-40%
It doesn't really matter. Since I can't afford one, I won't be asking anyone else to help me buy it. |
Anonymous
Come on now, even if you see one that impresses you? |
Anonymous
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Serious question:
Four lawyers Lawyer A: Came from a family that, for whatever reason (savings, wealth, etc.), paid for all of that person's education, including law school. Lawyer A, free from debt, chose to go into public interest work. Together with spouse, has an HHI of about 125K and an appropriate mortgage. Lawyer B: No family money. Family did pay for most of college. Lawyer B had a choice between a scholarship at a state school that would leave her with about $50K of debt or going to a bigger name school and graduating about $200K in debt. Lawyer B chose the state school, worked really hard and had top grades, and landed a job at a major law firm. Currently no debt except an affordable mortgage, and HHI over 500K. Lawyer C: Same situation as Lawyer B, except Lawyer C chose the prestige school. Lawyer C did less well, didn't get hired at a top firm, still has $100K of school debt, a large mortgage and a HHI of 200K. Lawyer D: Same situation as Lawyer C, except that Lawyer D also chose public interest work out of the box not withstanding the huge debt burden. Lawyer D has a modest mortgage, current school debt of $100K and an HHI of 125K. Which, if any, of these people should get financial aid, assuming everything else is equal? Why? I think there is a really good argument that the answer is none (which probably means only A's and B's kids will go to privates), but I am prepared to be convinced otherwise. |
Anonymous
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Lawyer B is looking at you like you're from another planet.
She thinks you don't understand her or her priorities very well AT ALL if you think she'd even consider going into debt (much less ask for aid!) to send her DC to private school. |
Anonymous
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To 21:50-
I know Lawyer B wouldn't go into debt or ask for aid. She would pay for DC's school out of cash flow and forego the supersized kitchen or the Mercedes or the vacation house or whatever. That's not the point. There are lots of value judgments being put forth on this thread about who should or shouldn't get aid and what should or shouldn't count. I'm framing it in a different way to challenge people to think critically about it. ~21:39 |
Anonymous
| You can mortgage your house? Use your retirement savings? |
Anonymous
Well said. |
Anonymous
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I really don't see it as an issue of which lawyer "deserves" to receive financial aid. Each individual is likely an admirable person with nice children. Choosing public interest work is one way to serve humanity, but I imagine Lawyer B also does many fine things too, such as provide pro bono work to deserving nonprofits and much needed cash donations to others.
Children all deserve good educations and they deserve parents who will strive to provide that for them (as well as the underlying love and support). But can ALL children attend excellent privates? Clearly not. And is a good private truly necessary for all? No, IMO. Nice to have but not necessary. I believe parents should do the best they can and put their children's educations ahead of large houses and fancy vacations. But many families will still be unable to afford private education even after doing so ... those are the families for which FA is intended. Families with $125k - $200 might find private education difficult (but not impossible) and need to decide whether their particular children would benefit more from private school versus other things, including quality of life things like cable television, educational vacations, etc. My child would be healthier if I could feed her nothing but organic, fresh food. I cannot afford to provide that type of diet on my family's budget ... I do the best I can with non-organic but plentiful fresh produce, meats, etc. Should another family give me money to "upgrade" to 100 percent organic? It would be better for my child ... Not trying to be snide ... just trying to explain my position. |
Anonymous
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Lawyer A's kids are going to private because the grandparents have offered to pay. Lawyer B has moved to a burb where the public schools are excellent; she's not wasting her money on private schools when she's living proof that you don't need to go that route to succeed. Lawyer C's not gonna make partner but her large mortgage put her in an affluent neighborhood where the public schools are good enough so she makes a virtue of necessity and talks up how much more diverse and multicultural public schools are (even though her kids' isn't and she's hoping like hell she can afford private before they get to middle school and start mixing with kids from families who can't afford to live in a neighborhood like hers). Lawyer D and partner are looking at charters and/or each hoping the other will bite the bullet and leave public interest to go work for a big firm.
What do you do with could-a-been-a-lawyer-but-chose-a-less-lucrative-job E? Which decided-against money-making opportunities will be held against people and which will not? Are some non-lucrative jobs more worthy of subsidizing than others? Does your answer change if E is an artist vs. a politician vs. a social worker vs. an academic? How does fame or status or skill set or influence get factored in? Would a critically acclaimed (but non-commercial) artist trump a state legislator (but not a Cabinet member). Is a teacher more worthy than an advocate for the homeless? Does it depend on where/whom the teacher teaches? Short answer, financial aid officers are looking at ability to pay -- not the whole backstory. Admissions officers are looking at what kinds of kids/families they want to be part of the school community. |