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

[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.

FWIW, We own our own business and just finished applying for aid for next year. We had to provide all the business' tax returns on top of our own to show the relationship between DH's non-salary and the assets of the business. In our case, DH takes home very little money because we own a small business, not because he's deliberately trying not to take a salary.

[Anonymous]

It is common knowledge that rich fks know how to extract $ and corrupt systems in place. Enjoy your further tax breaks. We working poor people will be responsible and pick up the slack as y'all cut social security, drive up prices for everything and destroy our natural environment. Thanka for creating a distopia!

[Anonymous]

Anonymous wrote:

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.

Not to mention the family that belonged to one of the big country clubs PLUS a social club at the same time that they were receiving a large sum of aid and the parents did not have full time jobs. And no there was no good reason. I would like some of that money paid back to the Financial Aid pot for others to use that really deserve it. You should not be able to pay club dues and get financial aid no matter what. It is just the principle of it all.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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.

Not to mention the family that belonged to one of the big country clubs PLUS a social club at the same time that they were receiving a large sum of aid and the parents did not have full time jobs. And no there was no good reason. I would like some of that money paid back to the Financial Aid pot for others to use that really deserve it. You should not be able to pay club dues and get financial aid no matter what. It is just the principle of it all.

Or the parent and teen who somehow managed to get a full trip to Europe paid by the school. How nice. What a joke. Some people really know how to scam the system and the schools allow it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

Not to mention the family that belonged to one of the big country clubs PLUS a social club at the same time that they were receiving a large sum of aid and the parents did not have full time jobs. And no there was no good reason. I would like some of that money paid back to the Financial Aid pot for others to use that really deserve it. You should not be able to pay club dues and get financial aid no matter what. It is just the principle of it all.

Or the parent and teen who somehow managed to get a full trip to Europe paid by the school. How nice. What a joke. Some people really know how to scam the system and the schools allow it.

[Anonymous]

Anonymous wrote:

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.

Right- i am new to the private school world and just applied for aid (130k income, live in a condo) and had to include W2s, give access to last year's taxes, share my home value and report what I have in savings and retirement. It seems like this is all being take into account. Is that not the same at all the schools?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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.

It's almost like the people complaining have never applied for FA and don't know how it works.
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.

Right- i am new to the private school world and just applied for aid (130k income, live in a condo) and had to include W2s, give access to last year's taxes, share my home value and report what I have in savings and retirement. It seems like this is all being take into account. Is that not the same at all the schools?

[Anonymous]

Anonymous wrote:

Anonymous wrote:There shouldn’t be financial aid for private schools to begin with. The problem here (though really 1.2M for a house they may not own isn’t that egregious) illustrates that. If you can’t pay, you can’t go. There’s a free option.

I agree. That's how it worked when I grew up.

How old are you? There was definitely FA at private schools when I was growing up in the 80s.

[Anonymous]

Scamming and fraud is a sport to certain ethnics. My husband says these men scamming financial aid will brag about it while they’re golfing. Literally laughing about scamming some independent school or t30 university. Same men brag about hiding all of their assets before divorcing their first wives.

[Anonymous]

Anonymous wrote:Scamming and fraud is a sport to certain ethnics. My husband says these men scamming financial aid will brag about it while they’re golfing. Literally laughing about scamming some independent school or t30 university. Same men brag about hiding all of their assets before divorcing their first wives.

Wow. Racist much? I’d have said your husband needs to find better golf buddies, but it actually sounds like he fits right in.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Scamming and fraud is a sport to certain ethnics. My husband says these men scamming financial aid will brag about it while they’re golfing. Literally laughing about scamming some independent school or t30 university. Same men brag about hiding all of their assets before divorcing their first wives.

Wow. Racist much? I’d have said your husband needs to find better golf buddies, but it actually sounds like he fits right in.

I don’t know what was racist or where your own mind went. Maybe you’re projecting. You’re free to google the most corrupt countries in the world. And golf clubs put singles and pairs into foursomes. Doesn’t mean you’re buddies. Men also golf with business associates, investors, and prospectives. Again, doesn’t mean you’re buddies.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Scamming and fraud is a sport to certain ethnics. My husband says these men scamming financial aid will brag about it while they’re golfing. Literally laughing about scamming some independent school or t30 university. Same men brag about hiding all of their assets before divorcing their first wives.

Wow. Racist much? I’d have said your husband needs to find better golf buddies, but it actually sounds like he fits right in.

I don’t know what was racist or where your own mind went. Maybe you’re projecting. You’re free to google the most corrupt countries in the world. And golf clubs put singles and pairs into foursomes. Doesn’t mean you’re buddies. Men also golf with business associates, investors, and prospectives. Again, doesn’t mean you’re buddies.

People aren’t “ethnics.”