Curating our K list

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Most schools' financial aid applications ask whether anyone else will or can pay tuition. This is presumably to prevent FA from going to families where grandparents will pay in full anyway.

I assume the GP will gift the $$ to the parents/kid which will then be used to pay any residual non FA tuition.

You are also obligated to report gifts for most schools. Level of detail on applications is very high and varies by school.

+1

Gifting above $19k per person is reportable to IRS. Grandparents typically get around this by directly paying tuition to schools, but I can’t imagine that working after the first year if you’re on FA.

If OP did not mention the grandparents' point...this wouldn't even be a conversation...same way they can apply for FA and simply not get a gift from grandparents...and it would not be an issue.

come on now. OP mentioned owning a brownstone in Manhattan, having GP pay for schooling and then applying for FA.

Feel like they knew exactly what they were getting with those three pieces of info.

A brownstone in upper Manhattan is not a Brownstone on the UES. It is not trivial but you need to re-center your mindset. I don't have the energy to dig into the details but if they put 20% down on a $1.2 million brownstone and have built up a bit more equity by paying down a 30 year mortgage for three years, that is not a huge asset.

To the other point, lots of kids have private school paid for by grandparents. As someone else noted, grandparents typically pay directly as it is a nice way to avoid the gift tax. Ideal world grandparents are paying tuition and giving gifts on top of that. I wish I was so lucky! I know people who run an overnight camp and they have told me that many kids have the bill go straight to grandparents. It is a nice way to accumulate generational wealth - if the family was going to inherit the money anyway, why not have grandparents pay for current expenses.

I agree that that submitting a financial aid application based on your personal assets, having the school give you money, then having grandparents cover your portion is not what the schools want. Pat yourself on the back for gaming the system but it's not cool.

it doesn't sound as snarky if you say brownstone in upper manhattan versus just manhattan.

nobody is suggesting grandparents don't pay - many do. it's not an easy bill for most families. i just don't think most of those also get handouts from the school.

We donate money to our kids schools partly so they can offer financial aid. You can see why some/many would find it not cool, it's not the spirit of FA.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Most schools' financial aid applications ask whether anyone else will or can pay tuition. This is presumably to prevent FA from going to families where grandparents will pay in full anyway.

I assume the GP will gift the $$ to the parents/kid which will then be used to pay any residual non FA tuition.

You are also obligated to report gifts for most schools. Level of detail on applications is very high and varies by school.

+1

Gifting above $19k per person is reportable to IRS. Grandparents typically get around this by directly paying tuition to schools, but I can’t imagine that working after the first year if you’re on FA.

If OP did not mention the grandparents' point...this wouldn't even be a conversation...same way they can apply for FA and simply not get a gift from grandparents...and it would not be an issue.

come on now. OP mentioned owning a brownstone in Manhattan, having GP pay for schooling and then applying for FA.

Feel like they knew exactly what they were getting with those three pieces of info.

FA is calculated based on the asset/income/expense mix. That number is a mystery that is calculated diffrerently depending on the school. They could be asset-rich but income-poor. We don't know OP, so yes, it's possible for a family that owns a home to still qualify for FA, whether we think it's fair or not.

it's the grandparents able to full pay comment that probably is rubbing people the wrong way.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Most schools' financial aid applications ask whether anyone else will or can pay tuition. This is presumably to prevent FA from going to families where grandparents will pay in full anyway.

I assume the GP will gift the $$ to the parents/kid which will then be used to pay any residual non FA tuition.

You are also obligated to report gifts for most schools. Level of detail on applications is very high and varies by school.

+1

Gifting above $19k per person is reportable to IRS. Grandparents typically get around this by directly paying tuition to schools, but I can’t imagine that working after the first year if you’re on FA.

If OP did not mention the grandparents' point...this wouldn't even be a conversation...same way they can apply for FA and simply not get a gift from grandparents...and it would not be an issue.

come on now. OP mentioned owning a brownstone in Manhattan, having GP pay for schooling and then applying for FA.

Feel like they knew exactly what they were getting with those three pieces of info.

FA is calculated based on the asset/income/expense mix. That number is a mystery that is calculated diffrerently depending on the school. They could be asset-rich but income-poor. We don't know OP, so yes, it's possible for a family that owns a home to still qualify for FA, whether we think it's fair or not.

it's the grandparents able to full pay comment that probably is rubbing people the wrong way.

Why should the OP care if it rubs people the wrong way if one of the private schools is willing to award them financial aid.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Most schools' financial aid applications ask whether anyone else will or can pay tuition. This is presumably to prevent FA from going to families where grandparents will pay in full anyway.

I assume the GP will gift the $$ to the parents/kid which will then be used to pay any residual non FA tuition.

You are also obligated to report gifts for most schools. Level of detail on applications is very high and varies by school.

+1

Gifting above $19k per person is reportable to IRS. Grandparents typically get around this by directly paying tuition to schools, but I can’t imagine that working after the first year if you’re on FA.

If OP did not mention the grandparents' point...this wouldn't even be a conversation...same way they can apply for FA and simply not get a gift from grandparents...and it would not be an issue.

come on now. OP mentioned owning a brownstone in Manhattan, having GP pay for schooling and then applying for FA.

Feel like they knew exactly what they were getting with those three pieces of info.

A brownstone in upper Manhattan is not a Brownstone on the UES. It is not trivial but you need to re-center your mindset. I don't have the energy to dig into the details but if they put 20% down on a $1.2 million brownstone and have built up a bit more equity by paying down a 30 year mortgage for three years, that is not a huge asset.

To the other point, lots of kids have private school paid for by grandparents. As someone else noted, grandparents typically pay directly as it is a nice way to avoid the gift tax. Ideal world grandparents are paying tuition and giving gifts on top of that. I wish I was so lucky! I know people who run an overnight camp and they have told me that many kids have the bill go straight to grandparents. It is a nice way to accumulate generational wealth - if the family was going to inherit the money anyway, why not have grandparents pay for current expenses.

I agree that that submitting a financial aid application based on your personal assets, having the school give you money, then having grandparents cover your portion is not what the schools want. Pat yourself on the back for gaming the system but it's not cool.

it doesn't sound as snarky if you say brownstone in upper manhattan versus just manhattan.

nobody is suggesting grandparents don't pay - many do. it's not an easy bill for most families. i just don't think most of those also get handouts from the school.

We donate money to our kids schools partly so they can offer financial aid. You can see why some/many would find it not cool, it's not the spirit of FA.

I don't think many schools would want to admit a family in which the grandparents can give inheritance for a brownstone, but not help with the tuition.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Most schools' financial aid applications ask whether anyone else will or can pay tuition. This is presumably to prevent FA from going to families where grandparents will pay in full anyway.

I assume the GP will gift the $$ to the parents/kid which will then be used to pay any residual non FA tuition.

You are also obligated to report gifts for most schools. Level of detail on applications is very high and varies by school.

+1

Gifting above $19k per person is reportable to IRS. Grandparents typically get around this by directly paying tuition to schools, but I can’t imagine that working after the first year if you’re on FA.

If OP did not mention the grandparents' point...this wouldn't even be a conversation...same way they can apply for FA and simply not get a gift from grandparents...and it would not be an issue.

come on now. OP mentioned owning a brownstone in Manhattan, having GP pay for schooling and then applying for FA.

Feel like they knew exactly what they were getting with those three pieces of info.

A brownstone in upper Manhattan is not a Brownstone on the UES. It is not trivial but you need to re-center your mindset. I don't have the energy to dig into the details but if they put 20% down on a $1.2 million brownstone and have built up a bit more equity by paying down a 30 year mortgage for three years, that is not a huge asset.

To the other point, lots of kids have private school paid for by grandparents. As someone else noted, grandparents typically pay directly as it is a nice way to avoid the gift tax. Ideal world grandparents are paying tuition and giving gifts on top of that. I wish I was so lucky! I know people who run an overnight camp and they have told me that many kids have the bill go straight to grandparents. It is a nice way to accumulate generational wealth - if the family was going to inherit the money anyway, why not have grandparents pay for current expenses.

I agree that that submitting a financial aid application based on your personal assets, having the school give you money, then having grandparents cover your portion is not what the schools want. Pat yourself on the back for gaming the system but it's not cool.

it doesn't sound as snarky if you say brownstone in upper manhattan versus just manhattan.

nobody is suggesting grandparents don't pay - many do. it's not an easy bill for most families. i just don't think most of those also get handouts from the school.

We donate money to our kids schools partly so they can offer financial aid. You can see why some/many would find it not cool, it's not the spirit of FA.

I don't think many schools would want to admit a family in which the grandparents can give inheritance for a brownstone, but not help with the tuition.

You're thinking too deeply about this. lol

[Anonymous]

Why Hewitt only? If you’re interested in a girls’ school, I would expand the search, and consider at least Nightingale and Chapin, but maybe all of them. Hewitt is not “low key” if that’s your goal the way the k-8 UWS schools are, it’s just much easier to get in to (because it’s historically not as strong academically. Also they’re in their third head of school since I’ve been paying attention, which seems high to me.)
Basis IS kind of a low key k-8, in its own way, so maybe just take a look?
Parents league does a big kindergarten fair, which I highly recommend to help you make a big list.

[Anonymous]

Anonymous wrote:Why Hewitt only? If you’re interested in a girls’ school, I would expand the search, and consider at least Nightingale and Chapin, but maybe all of them. Hewitt is not “low key” if that’s your goal the way the k-8 UWS schools are, it’s just much easier to get in to (because it’s historically not as strong academically. Also they’re in their third head of school since I’ve been paying attention, which seems high to me.)
Basis IS kind of a low key k-8, in its own way, so maybe just take a look?
Parents league does a big kindergarten fair, which I highly recommend to help you make a big list.

OP here: We have family friends currently at Hewitt, and they rave about it. Noted on the historical perception, but we don't put much weight on that.
Added Basis- thank you!
Just joined the parents league newsletter- trying to decide if membership is worth it.

[Anonymous]

Anonymous wrote:
Just joined the parents league newsletter- trying to decide if membership is worth it.

The school fair events were free when I was looking at preschools.

[Anonymous]

You might want to look at the park childrens day school newsletter (on their website). They have a list of ongoing school spring tours.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Why Hewitt only? If you’re interested in a girls’ school, I would expand the search, and consider at least Nightingale and Chapin, but maybe all of them. Hewitt is not “low key” if that’s your goal the way the k-8 UWS schools are, it’s just much easier to get in to (because it’s historically not as strong academically. Also they’re in their third head of school since I’ve been paying attention, which seems high to me.)
Basis IS kind of a low key k-8, in its own way, so maybe just take a look?
Parents league does a big kindergarten fair, which I highly recommend to help you make a big list.

OP here: We have family friends currently at Hewitt, and they rave about it. Noted on the historical perception, but we don't put much weight on that.
Added Basis- thank you!
Just joined the parents league newsletter- trying to decide if membership is worth it.

the commute to the girls schools could be tough. The have good academic rigor. Diversity is a mixed bag. I think Nightingale and Hewitt are more white.

S/C/B have lots of POC - but i think a fair bit of that is Asian.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why Hewitt only? If you’re interested in a girls’ school, I would expand the search, and consider at least Nightingale and Chapin, but maybe all of them. Hewitt is not “low key” if that’s your goal the way the k-8 UWS schools are, it’s just much easier to get in to (because it’s historically not as strong academically. Also they’re in their third head of school since I’ve been paying attention, which seems high to me.)
Basis IS kind of a low key k-8, in its own way, so maybe just take a look?
Parents league does a big kindergarten fair, which I highly recommend to help you make a big list.

OP here: We have family friends currently at Hewitt, and they rave about it. Noted on the historical perception, but we don't put much weight on that.
Added Basis- thank you!
Just joined the parents league newsletter- trying to decide if membership is worth it.

the commute to the girls schools could be tough. The have good academic rigor. Diversity is a mixed bag. I think Nightingale and Hewitt are more white.

S/C/B have lots of POC - but i think a fair bit of that is Asian.

Aren't S/C/B known pressure cookers? Regardless, they don't seem in line with the list OP is curating.

[Anonymous]

None are pressure cookers in lower school, and s/c much less than b.
From Hamilton Heights, none of the commutes are easy, and the uptown east side schools are just as easy if you drive (esp compared to Hewitt)
But I think if you are looking at a commute no matter what and have a buy also, you want to pick an UWS k-8 your kids can both attend and then revisit for high school.

[Anonymous]

School at Columbia gets knocked but we loved it there. I thought the Columbia faculty parent body added a lot to the school. Commute might not be so bad for you because it is right by the 110th one train subway station. My kid went on to B/S/C, and it seemed like everyone was pleased with their HS outcome. Re financial aid, it seemed like most of the community families were full pay. Also--Parents League is worth it.

[Anonymous]

Anonymous wrote:School at Columbia gets knocked but we loved it there. I thought the Columbia faculty parent body added a lot to the school. Commute might not be so bad for you because it is right by the 110th one train subway station. My kid went on to B/S/C, and it seemed like everyone was pleased with their HS outcome. Re financial aid, it seemed like most of the community families were full pay. Also--Parents League is worth it.

how was the transition to B/S/C? Was kid able to keep up?

[Anonymous]

Anonymous wrote:School at Columbia gets knocked but we loved it there. I thought the Columbia faculty parent body added a lot to the school. Commute might not be so bad for you because it is right by the 110th one train subway station. My kid went on to B/S/C, and it seemed like everyone was pleased with their HS outcome. Re financial aid, it seemed like most of the community families were full pay. Also--Parents League is worth it.

That’s actually not surprising. I’m of the belief that parental influence goes way farther in predicting outcomes than folks understand. I rather have my kid around kids of class diverse academics over legacy/wealthy kids…but hey what do I know.