Do you get financial aid at Sidwell lower school? Beauvoir?

[Anonymous]

If so, what is your income?
There is no way we can afford full private school tuition, but make pre-tax 140,000/yr, which sounds like much more than it feels, particularly because we don't own our home and are divorcing.
Anyone willing to share their experience with Financial Aid at these (or similar) schools?
Thank you.

[Anonymous]

Anonymous wrote:If so, what is your income?
There is no way we can afford full private school tuition, but make pre-tax 140,000/yr, which sounds like much more than it feels, particularly because we don't own our home and are divorcing.
Anyone willing to share their experience with Financial Aid at these (or similar) schools?
Thank you.

Yes, they give financial aid at Sidwell lower school. They use the NAIS common formula, which takes into account family circumstances like divorce (need to maintain two households on combined parental income). You should contact them directly to get a better sense for where you would stand.

[Anonymous]

Your not likely to qualify based on that salary but nobody can answer for sure. Just apply for FA and find out. FA is generally reserved for those truly in need. While I understand that in DC that income doesn't go as far as it would elsewhere it may be too high for FA. It can't hurt to try but be prepared to deal with receiving an acceptance letter with no offer of FA. Might not be worth the hart ache if you truly cannot afford it.

[Anonymous]

Anonymous wrote:Your not likely to qualify based on that salary but nobody can answer for sure. Just apply for FA and find out. FA is generally reserved for those truly in need. While I understand that in DC that income doesn't go as far as it would elsewhere it may be too high for FA. It can't hurt to try but be prepared to deal with receiving an acceptance letter with no offer of FA. Might not be worth the hart ache if you truly cannot afford it.

Back of the envelope, you may qualify for some aid based upon the NAIS formula:

Taxable Income of $140,000 less Allowances (state, Federal, and FICA taxes, other) roughly $40,000 = Effective Income of $100,000

Effective Income of $100,000 less Income Protection Allowance (food, transportation, housing) roughly $25,000 = Discretionary Income of $75,000

Parental Contribution for one child is roughly 34% of Discretionary Income = $25,500

Local Private School Tuition next year estimated at $37,000 less Parental Contribution $25,500 = $11,500 in Financial Aid

This assumes no extraordinary expenses (like medical or alimony) and no income from financial assets, but is directionally correct.

[Anonymous]

I understand that these ratios don't include regional differences. $25,000 for food, transportation and housing seems very low though. In DC this figure alone covers only a tiny two bedroom rental in an adequate but not always safe area of town.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Your not likely to qualify based on that salary but nobody can answer for sure. Just apply for FA and find out. FA is generally reserved for those truly in need. While I understand that in DC that income doesn't go as far as it would elsewhere it may be too high for FA. It can't hurt to try but be prepared to deal with receiving an acceptance letter with no offer of FA. Might not be worth the hart ache if you truly cannot afford it.

Back of the envelope, you may qualify for some aid based upon the NAIS formula:

Taxable Income of $140,000 less Allowances (state, Federal, and FICA taxes, other) roughly $40,000 = Effective Income of $100,000

Effective Income of $100,000 less Income Protection Allowance (food, transportation, housing) roughly $25,000 = Discretionary Income of $75,000

Parental Contribution for one child is roughly 34% of Discretionary Income = $25,500

Local Private School Tuition next year estimated at $37,000 less Parental Contribution $25,500 = $11,500 in Financial Aid

This assumes no extraordinary expenses (like medical or alimony) and no income from financial assets, but is directionally correct.

Damn, you're good. That's very close to my numbers and what we received.

[Anonymous]

Anonymous wrote:If so, what is your income?
There is no way we can afford full private school tuition, but make pre-tax 140,000/yr, which sounds like much more than it feels, particularly because we don't own our home and are divorcing.
Anyone willing to share their experience with Financial Aid at these (or similar) schools?
Thank you.

Why send your kid to private on 140? That's insane.

[Anonymous]

Anonymous wrote:

Anonymous wrote:If so, what is your income?
There is no way we can afford full private school tuition, but make pre-tax 140,000/yr, which sounds like much more than it feels, particularly because we don't own our home and are divorcing.
Anyone willing to share their experience with Financial Aid at these (or similar) schools?
Thank you.

Why send your kid to private on 140? That's insane.

OP asked for people's experiences, not your random judgment. Go away.

[Anonymous]

Anonymous wrote:I understand that these ratios don't include regional differences. $25,000 for food, transportation and housing seems very low though. In DC this figure alone covers only a tiny two bedroom rental in an adequate but not always safe area of town.

17:02 here. I think that is right. Certain schools - not all - apply an overlay that adjusts this number for the local cost of living.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Your not likely to qualify based on that salary but nobody can answer for sure. Just apply for FA and find out. FA is generally reserved for those truly in need. While I understand that in DC that income doesn't go as far as it would elsewhere it may be too high for FA. It can't hurt to try but be prepared to deal with receiving an acceptance letter with no offer of FA. Might not be worth the hart ache if you truly cannot afford it.

Back of the envelope, you may qualify for some aid based upon the NAIS formula:

Taxable Income of $140,000 less Allowances (state, Federal, and FICA taxes, other) roughly $40,000 = Effective Income of $100,000

Effective Income of $100,000 less Income Protection Allowance (food, transportation, housing) roughly $25,000 = Discretionary Income of $75,000

Parental Contribution for one child is roughly 34% of Discretionary Income = $25,500

Local Private School Tuition next year estimated at $37,000 less Parental Contribution $25,500 = $11,500 in Financial Aid

This assumes no extraordinary expenses (like medical or alimony) and no income from financial assets, but is directionally correct.

This is REALLY helpful. Thank you. -OP

Damn, you're good. That's very close to my numbers and what we received.