Tuiton fatigue

[Anonymous]

At what grade do parents start to think about whether they can't keep up with tuition hikes? We might have to call it quits next year. They are in 3, 5 grade. Is that a bad time to quit?

[Anonymous]

We are in your boat as well. I am thinking that we may have to pack it in in about 2 years of the 10% increases continue each year.

I think the kids will be fine, and perhaps you will be able to save towards high school or junior high if the need arises?

[Anonymous]

Figure that it will go up 5-6%/year... argh!!

[Anonymous]

I don't know the process...

Can you apply for financial aid only at the time of initial entry? Or can you apply a few years in (when you start to run out of money!)?

[Anonymous]

bump

Can anyone answer this question about the timing of applying for financial assistance?

[Anonymous]

Can apply every year - similar to college financial aid... think that you even fill out the same FAFSA

[Anonymous]

You can definitely apply for any year, but the timing is a bit odd. Financial aid forms are due by early-February and you have to sign the contract committing for the following year by late February. I presume you get the answer regarding financial aid BEFORE the contract due date.

[Anonymous]

So you can pay full freight for, say, K-3, and not make a peep about financial aid, and then come in out of the blue and try to get some aid for, say, 4th grade on? Does this ever succeed? If it does, why don't more people do it rather than leave the school? Or do indeed lots of people give this a try? Do you have to show a radically changed financial situation?

[Anonymous]

PP I don't know the answers to those questions--you would need to ask an admissions director. My experience has been that those folks don't say too much about it--very vague! However, if your family can afford private school for a full 4 years (k thru 3), it is unlikely that your income would qualify for financial aid at grade 4. Even with radically changed financial situation, your assets (home equity, savings accounts, etc.) would likely still be high. And I don't think you want to spend down your savings in the hopes of getting aid -- this is not similar to trying to get grandma into a good nursing home! The schools only have so much available for aid each year -- it is a zero sum game. So if everyone tries this little idea -- IT WON"T WORK!!! Better advice would be to eat out a bit less and keep that car a few extra years, etc.

[Anonymous]

You might want to look into the Black Student Fund or Latino Student Fund if you qualify for either of those.