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

[Anonymous]

Just look at your school directory - how many kids are living in apartments? At ours it’s maybe one per class.

[Anonymous]

Anonymous wrote:Crazy, but I guess the house doesn't mean they necessarily have the income for the big privates of 40-60k/year. We are in a house around that, over 120k in tuition for 3 kids, and don't get a cent. We manage but definitely no fancy cars or clothes.

Not to mention those that belong to country clubs with annual dues of $10,000. That is not what I had in mind when we donate.

[Anonymous]

Anonymous wrote:

Anonymous wrote:MIT is offering free tuition to those making under 200k a year. So the value of the house isn't the reason to deny aid.

https://news.mit.edu/2024/mit-tuition-undergraduates-family-income-1120

That’s gross as people will just game that system.

You still have to get into MIT- good luck with that part

[Anonymous]

Anonymous wrote:Just look at your school directory - how many kids are living in apartments? At ours it’s maybe one per class.

Schools want to brag about how high a percentage of their class gets aid and how much they pay out per year in aid, but they don't want to deal with truly needy kids because they come with challenges the schools would rather avoid. Hence aid going to families that the majority of the area would consider well off

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is 100% happening

How? I was dirt poor making $600 a month and my rent was $700 i got next to nothing literally to go to nova community college in the 90s.

Your info is not remotely on point.

Yes it is. They were really poor and didn't qualify so exactly how are rich people qualifying?

[Anonymous]

Exactly. Also where are country club dues $10k/year? All the rich people I know are at Congressional with a $100k buy in.

Anonymous wrote:

Anonymous wrote:Just look at your school directory - how many kids are living in apartments? At ours it’s maybe one per class.

Schools want to brag about how high a percentage of their class gets aid and how much they pay out per year in aid, but they don't want to deal with truly needy kids because they come with challenges the schools would rather avoid. Hence aid going to families that the majority of the area would consider well off

[Anonymous]

Anonymous wrote:

Anonymous wrote:Don't the schools assess these factors for financial aid? Or you mean these families are flying under the radar?

With the family I am aware of, I suspect the house they live in is owned by grandparents. Or grandparents buy cars, clothes, etc. for lifestyle and parents submit their $60,000/yr job income tax records for financial aid.

This is it. I’ve seen people getting money and in one instance her dad bought their house for them. So yeah it happens

[Anonymous]

My sister is a single mom. Her son/my nephew goes to a private school that she would not have been able to afford if it weren't for an anonymous donor who is covering his tuition through graduation. He's in 6th now. It's amazing. Our entire family is so grateful to this anonymous donor. We are comfortable but would never have been able to help cover the entire cost (we have children of our own).

[Anonymous]

Anonymous wrote:Exactly. Also where are country club dues $10k/year? All the rich people I know are at Congressional with a $100k buy in.

Anonymous wrote:

Pay attention. I said annual dues are $10,000 - not initiation fees which are $100,000.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Exactly. Also where are country club dues $10k/year? All the rich people I know are at Congressional with a $100k buy in.

Anonymous wrote:

Pay attention. I said annual dues are $10,000 - not initiation fees which are $100,000.

Pay attention. I said annual dues are $10,000 - not initiation fees which are $100,000.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Just look at your school directory - how many kids are living in apartments? At ours it’s maybe one per class.

Schools want to brag about how high a percentage of their class gets aid and how much they pay out per year in aid, but they don't want to deal with truly needy kids because they come with challenges the schools would rather avoid. Hence aid going to families that the majority of the area would consider well off

Schools can afford to give full rides to kids so they give aid allowing middle income families to be able to attend. So $55k per year becomes $25k which is still a lot but more obtainable.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just look at your school directory - how many kids are living in apartments? At ours it’s maybe one per class.

Schools want to brag about how high a percentage of their class gets aid and how much they pay out per year in aid, but they don't want to deal with truly needy kids because they come with challenges the schools would rather avoid. Hence aid going to families that the majority of the area would consider well off

Schools can afford to give full rides to kids so they give aid allowing middle income families to be able to attend. So $55k per year becomes $25k which is still a lot but more obtainable.

*CAN’T give

[Anonymous]

It's up to the school how the calculate FA, right. Leave the school if you don't like or open your on private.
The smartest kids are all in public as they don't even need schooling.
Mine asked today if he could skip college. I love it!

[Anonymous]

Anonymous wrote:

Anonymous wrote:Finaid formulas at Ivy League colleges can easily generate 100% grant aid for people in $1MM+ homes — it’s highly focused on income and generous with primary home values and 401k balances. So why are you expecting these secondary schools to view things so differently?

Yes, I expect aid to go to students who need it, not for greedy entitled parents who live far better than us. We live in a crappy little house, one car we purchased, one 18 year old handy down car and haven’t had a vacation in 5 years. Zero debt. DIY almost everything. Yes, I’d expect a family like us a priority over single mom in a house worth 2-3 times ours. V

Did you apply for aid and not get any?

Or, as is more typical, did you not apply but you're mad someone else did?

If the school reviews all the applications and decides who gets aid, how are the recipients taking anything away from others? The school could have given it all to one person, or no one. They didn't.

[Anonymous]

Anonymous wrote:It's up to the school how the calculate FA, right. Leave the school if you don't like or open your on private.
The smartest kids are all in public as they don't even need schooling.
Mine asked today if he could skip college. I love it!

Or, I won't leave the school, but I won't donate anymore, or at least donate anything to the financial aid fund. I'll also advocate for change, that the school use a more robust screening method for financial aid requests, and that they focus on truly low income families.