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

[Anonymous]

Anonymous wrote:Full pay families - question for you- would you prefer your child have a play date with a middle class family, in an average small home, in a fine neighborhood or send your kid to play in a low income housing apt complex with no nanny or parent at home, and child goes home alone with single parent who comes home late after working 2 jobs? Would you even socialize with the families you truly think are worthy of aid- single parent, working 2 jobs, multiple children, govt assistance just to get groceries... but the kid is brilliant? I doubt it.

Yes. I’m fine with kids living in apartments. I’m not afraid of them. The financial aid kid living in the mansion is a nightmare. The kids have no idea what stuff costs but that is made even worse because they are raised by financially idiotic greedy parents.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Full pay families - question for you- would you prefer your child have a play date with a middle class family, in an average small home, in a fine neighborhood or send your kid to play in a low income housing apt complex with no nanny or parent at home, and child goes home alone with single parent who comes home late after working 2 jobs? Would you even socialize with the families you truly think are worthy of aid- single parent, working 2 jobs, multiple children, govt assistance just to get groceries... but the kid is brilliant? I doubt it.

Yes. I’m fine with kids living in apartments. I’m not afraid of them. The financial aid kid living in the mansion is a nightmare. The kids have no idea what stuff costs but that is made even worse because they are raised by financially idiotic greedy parents.

You would be fine with your child going to a low income housing apt complex with no nanny or parent there to supervise because they're working? I call BS.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Full pay families - question for you- would you prefer your child have a play date with a middle class family, in an average small home, in a fine neighborhood or send your kid to play in a low income housing apt complex with no nanny or parent at home, and child goes home alone with single parent who comes home late after working 2 jobs? Would you even socialize with the families you truly think are worthy of aid- single parent, working 2 jobs, multiple children, govt assistance just to get groceries... but the kid is brilliant? I doubt it.

Yes. I’m fine with kids living in apartments. I’m not afraid of them. The financial aid kid living in the mansion is a nightmare. The kids have no idea what stuff costs but that is made even worse because they are raised by financially idiotic greedy parents.

You would be fine with your child going to a low income housing apt complex with no nanny or parent there to supervise because they're working? I call BS.

NP. I would just have the playdate at my house. I wouldn’t go for unsupervised at any income level, but I have no problem whatsoever with the kid or the family.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Full pay families - question for you- would you prefer your child have a play date with a middle class family, in an average small home, in a fine neighborhood or send your kid to play in a low income housing apt complex with no nanny or parent at home, and child goes home alone with single parent who comes home late after working 2 jobs? Would you even socialize with the families you truly think are worthy of aid- single parent, working 2 jobs, multiple children, govt assistance just to get groceries... but the kid is brilliant? I doubt it.

Yes. I’m fine with kids living in apartments. I’m not afraid of them. The financial aid kid living in the mansion is a nightmare. The kids have no idea what stuff costs but that is made even worse because they are raised by financially idiotic greedy parents.

You would be fine with your child going to a low income housing apt complex with no nanny or parent there to supervise because they're working? I call BS.

NP. I would just have the playdate at my house. I wouldn’t go for unsupervised at any income level, but I have no problem whatsoever with the kid or the family.

Exactly. And the nanny “watching” the kids at the mansion isn’t. She is on her phone and kids are unsupervised.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Full pay families - question for you- would you prefer your child have a play date with a middle class family, in an average small home, in a fine neighborhood or send your kid to play in a low income housing apt complex with no nanny or parent at home, and child goes home alone with single parent who comes home late after working 2 jobs? Would you even socialize with the families you truly think are worthy of aid- single parent, working 2 jobs, multiple children, govt assistance just to get groceries... but the kid is brilliant? I doubt it.

Yes. I’m fine with kids living in apartments. I’m not afraid of them. The financial aid kid living in the mansion is a nightmare. The kids have no idea what stuff costs but that is made even worse because they are raised by financially idiotic greedy parents.

You would be fine with your child going to a low income housing apt complex with no nanny or parent there to supervise because they're working? I call BS.

What is your point?

That low-income shouldn’t be welcome at your school? That they aren’t welcome? That parents who say they want low-income kids at their school are liars? Hypocrites? That low-income kids would be socially ostracized/isolated and so your school is not a good place for them and giving FA to families with more money is better for everyone?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Families who live in big houses and drive big cars but receive financial aid are usually those who own a business and have lost a lot of money, or have been laid off and took time to find a new job.

This isn’t true. There are local privates who give aid to dual income families earning 500 per year and living in 1.7 + homes. It seems to be a game of debt. Overleveraged people.

NP. Or families that the parents have not worked until recently and they have been getting a free ride for years not to mention their trips for the school paid.

It does not matter what their debt it. If they live in a house that is more than 1.25 million dollars they should under no circumstances receive aid. That means people living in apartments and smaller or equal homes working full time are basically paying for their kids' education.

You have no idea why parents don't work. Child care can be more than their income. Caring for an elderly or sick family member. Sick themselves. I look very healthy but I'm not and you'd have no clue how bad I am doing.

If they have that kind of house or money, they should take a loan out or not get aid, but two separate issues. Being in debt should not be considered as its a lifestyle choice.

Agree that many forms of debt are a lifestyle choice (e.g. credit cards). What about student loans? Loans taken out as students to allow for a college education, post-graduate, and residency education? This was an enabler to a higher income, and I feel that this should be considered when making a financial aid decision. In the case of doctors, many would not be doctors or have the related income without those student loans. Happy that this debt is factored in for financial aid.

[Anonymous]

My kids attend two Big 3 and at least in elementary school it seems that there are no low income families and the few that maybe are, just don’t mix with the rest of the parents. I am sure some of the families (including ours one year) receive FA, but I am sure it’s a small amount. We got 10% FA one year when our circumstances changed. It helped a lot, but we still had to pay about 35k per kid.

[Anonymous]

Anonymous wrote:

Anonymous wrote:^ but is low income

If you own your own business you can take $10.00 per year as income and that would give you low income which is why their assets MUST be accounted for. All assets, savings, 401K, etc...

Why should someone with low income but a lot of money saved for retirement get a free pass? You do realize that those paying full tuition would ALSO like to contribute to their retirement???????? That is the issue. It must be done by assets, including all savings, retirements, and stocks, etc....

I know multi millionaires that get $0 income. They do not take income off of their business.

If you think this is not being done at your school, you should let the school know your views. Many schools require a complete financial profile. And for those that don't, it's not like the school doesn't know where the students live and what those homes cost.
So once again, we are back to "you don't like the choice your school is making" and not "people in nicer houses are scamming financial aid." Take it up with the school.

[Anonymous]

How has this become a 30 page thread?!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:^ but is low income

If you own your own business you can take $10.00 per year as income and that would give you low income which is why their assets MUST be accounted for. All assets, savings, 401K, etc...

Why should someone with low income but a lot of money saved for retirement get a free pass? You do realize that those paying full tuition would ALSO like to contribute to their retirement???????? That is the issue. It must be done by assets, including all savings, retirements, and stocks, etc....

I know multi millionaires that get $0 income. They do not take income off of their business.

If you think this is not being done at your school, you should let the school know your views. Many schools require a complete financial profile. And for those that don't, it's not like the school doesn't know where the students live and what those homes cost.
So once again, we are back to "you don't like the choice your school is making" and not "people in nicer houses are scamming financial aid." Take it up with the school.

We receive a small amount of financial aid and never fear--- the school knows our entire financial picture. You can't really hide anything unless you have off shore accounts or similar. And trust me, we don't.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Full pay families - question for you- would you prefer your child have a play date with a middle class family, in an average small home, in a fine neighborhood or send your kid to play in a low income housing apt complex with no nanny or parent at home, and child goes home alone with single parent who comes home late after working 2 jobs? Would you even socialize with the families you truly think are worthy of aid- single parent, working 2 jobs, multiple children, govt assistance just to get groceries... but the kid is brilliant? I doubt it.

Yes. I’m fine with kids living in apartments. I’m not afraid of them. The financial aid kid living in the mansion is a nightmare. The kids have no idea what stuff costs but that is made even worse because they are raised by financially idiotic greedy parents.

You would be fine with your child going to a low income housing apt complex with no nanny or parent there to supervise because they're working? I call BS.

NP. I would just have the playdate at my house. I wouldn’t go for unsupervised at any income level, but I have no problem whatsoever with the kid or the family.

My point exactly. You wouldn't let your child go to their house to play. At what age is unsupervised okay? Please don't tell me your 14 year old has a nanny?

[Anonymous]

A true low income family cannot afford the testing required for admissions therefore they will never apply. Not to mention application fees. That is the schools sneaky way of keeping low income families out of schools. FA is for upper middle class families.

[Anonymous]

Home values increased about 5% each year, financial aid is awarded based on your W2s not on the home or car you are driving.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I know of multiple kids who get 50% off and they live it 1.5M homes and higher in McLean and Bethesda and are receiving significant financial aid for their kid in a top school. Also worthy of note- these are not top athletes, students, etc.

Anyone else seeing this?

Same at my DD school. Financial aid covers things like out of state school trips too. Family lives in 1.5-2.5 mil home, dad drives Tesla, mom does not work. I thought the $ we contribute to scholarships was to cover kids from truly disadvantaged backgrounds. Smart, motivated kids whose single mom works two jobs to make ends meet sort of thing. Not for entitled, advanatged folks who make poor $ choices.

Good point. Next fundraising opportunity, ask.

[Anonymous]

You never know what people are going through. They may be holding onto their houses but you never know .