Managing kid's hopes re: private school and financial aid?

[Anonymous]

Your current private might be able to provide insight on what type of aid package to expect.
I would also encourage to identify 2 other schools to apply to - if nothing else - you might be surprised.

[Anonymous]

Anonymous wrote:Your current private might be able to provide insight on what type of aid package to expect.
I would also encourage to identify 2 other schools to apply to - if nothing else - you might be surprised.

Great point. Also, if you are already receiving financial aid, sounds like you are more likely to receive financial aid from the next school you apply to. Certainly would have been useful data in the first post.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Your current private might be able to provide insight on what type of aid package to expect.
I would also encourage to identify 2 other schools to apply to - if nothing else - you might be surprised.

Great point. Also, if you are already receiving financial aid, sounds like you are more likely to receive financial aid from the next school you apply to. Certainly would have been useful data in the first post.

That's not really how it works.

Each school has an FA budget and a set of objectives and needs. They distribute the money (actually a Tuition discount) among the applicants based on the school's needs, preferences, etc. If these align with the previous school's, there's a good chance an applicant will also get FA.

But the distribution of FA is more subjective than the average DCUM poster seems to think. And much more situational. If, for example, in a given a school in a year has a number of applicants it really wants with very large FA needs, that will siphon off FA money that would normally go to other applicants.

Of course, 30% to 40% (depending on the school) do get some FA, so applying to the school knowing you need to FA to afford it is done very frequently and successfully. But it's still a crapshoot.

[Anonymous]

Oh lordy.
Your kid got hooked on private and now wants to do what the other kids do for HS.
In a private HS do you think most of the kids will be going to in state schools that your college savings will fund?
She's hooked on the rich track.
You need to sit and show her the finances. And that college is more important than fancy HS.

[Anonymous]

Anonymous wrote:Oh lordy.
Your kid got hooked on private and now wants to do what the other kids do for HS.
In a private HS do you think most of the kids will be going to in state schools that your college savings will fund?
She's hooked on the rich track.
You need to sit and show her the finances. And that college is more important than fancy HS.

Exactly this.