What HHI for financial aid?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just under $300k when we applied to well reputed (non-religious) privates for 6th grade. Tuition was in the 50s on average. We got a few paltry offers of $10k but mostly nothing. The one school that waitlisted our kid (who got into the rest) said they’d be admitted if willing to full pay.

We stayed in public.

On that income yuo can afford full pay. That's crazy you expect that much help.

That’s not true. That’s $300k before taxes. See my very basic breakdown above.

You are free to feel that way. But $10k is generally the amount that we donate every year. If I found out (and I wouldn't, but if I did) that the school offered $10k to a family with an HHI of $300k, my contributions would come to a screeching halt.

We’re that family. We live in a small rowhouse in DC. We have two kids. After taxes and the mortgage etc., we don’t have a shit ton left. And we’re saving for college and retirement. This is DC. $300k pre-tax for a family of 4 isn’t all that much.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I would like to think my full pay tuition isn't financing wealthy families. But I know at least one that seems well off, has more than one property, a two kids in private and is getting financial aid, though I don't know how much.

It's a little disheartening to those of us who worked hard to pay off our mortgage early, drive older cars, don't take expensive vacations, and live within our means to be penalized for being frugal.

How do you know they get aid? I have no idea who gets aid at our school

They admitted it, though did not disclose the amount. It was the, "just make sure you list all your expenses, like your mortgages [plural]" that got me. Like, if you have multiple properties maybe you don't need financial aid? And because I see them frequently, I know the cars are nice and vacations are taken regularly.

But whatever. Obviously I'm not their accountant and it's not on me to police their applications. It just rankles.

What about multiple properties? We own a second home in DC that we rent. The rent covers the 3.5k mortgage plus 2.5k to help pay for our house mortgage. If we sold the house, we would probably profit 100-150k and lose the 2.5k/month.

We are not rich, but have not needed aid so far. When our third gets to private school, we might..

How would the second home/rental property affect our chances? Would the school expect us to sell it? If we do, within 5 years we will need much more aid because we would be giving up the extra 30k per year in rental income.

A rental property that provides an income stream is probably viewed differently than a second home. Many families own vacation properties (not rentals).

[Anonymous]

Anonymous wrote:What other forms of grifting are you engaged in?

lol

[Anonymous]

Anonymous wrote:With my own kids, we always opt out of making the kids fundraise for their extracurriculars and just pay the activity fee instead of there is that option.

We don’t let our kids fundraise for themselves.

Parents who do should be embarrassed. It is the same as panhandling.

Panhandling?!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just under $300k when we applied to well reputed (non-religious) privates for 6th grade. Tuition was in the 50s on average. We got a few paltry offers of $10k but mostly nothing. The one school that waitlisted our kid (who got into the rest) said they’d be admitted if willing to full pay.

We stayed in public.

On that income yuo can afford full pay. That's crazy you expect that much help.

That’s not true. That’s $300k before taxes. See my very basic breakdown above.

You are free to feel that way. But $10k is generally the amount that we donate every year. If I found out (and I wouldn't, but if I did) that the school offered $10k to a family with an HHI of $300k, my contributions would come to a screeching halt.

We’re that family. We live in a small rowhouse in DC. We have two kids. After taxes and the mortgage etc., we don’t have a shit ton left. And we’re saving for college and retirement. This is DC. $300k pre-tax for a family of 4 isn’t all that much.

Families with more than two kids maybe shouldn’t be asking for financial aid in the first place. Having a large family is a choice. No different from purchasing a $6M house or a $300k vehicle.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just under $300k when we applied to well reputed (non-religious) privates for 6th grade. Tuition was in the 50s on average. We got a few paltry offers of $10k but mostly nothing. The one school that waitlisted our kid (who got into the rest) said they’d be admitted if willing to full pay.

We stayed in public.

On that income yuo can afford full pay. That's crazy you expect that much help.

That’s not true. That’s $300k before taxes. See my very basic breakdown above.

You are free to feel that way. But $10k is generally the amount that we donate every year. If I found out (and I wouldn't, but if I did) that the school offered $10k to a family with an HHI of $300k, my contributions would come to a screeching halt.

We’re that family. We live in a small rowhouse in DC. We have two kids. After taxes and the mortgage etc., we don’t have a shit ton left. And we’re saving for college and retirement. This is DC. $300k pre-tax for a family of 4 isn’t all that much.

Families with more than two kids maybe shouldn’t be asking for financial aid in the first place. Having a large family is a choice. No different from purchasing a $6M house or a $300k vehicle.

NP with one kid here. Families with multiple kids are a reliable long-term income stream for the school, even at 60% tuition. Which is why the school CHOOSES to give them FA.

As for "if I knew my donation was going to x, I wouldn't donate" - please, just stop donating. Donations, like tax dollars, inevitably go to things you wouldn't choose. Unlike tax dollars, you can stop donating or choose an earmarked cause like a new classroom wing, so please do that and stop complaining endlessly about who is needy enough for FA.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just under $300k when we applied to well reputed (non-religious) privates for 6th grade. Tuition was in the 50s on average. We got a few paltry offers of $10k but mostly nothing. The one school that waitlisted our kid (who got into the rest) said they’d be admitted if willing to full pay.

We stayed in public.

On that income yuo can afford full pay. That's crazy you expect that much help.

That’s not true. That’s $300k before taxes. See my very basic breakdown above.

You are free to feel that way. But $10k is generally the amount that we donate every year. If I found out (and I wouldn't, but if I did) that the school offered $10k to a family with an HHI of $300k, my contributions would come to a screeching halt.

We’re that family. We live in a small rowhouse in DC. We have two kids. After taxes and the mortgage etc., we don’t have a shit ton left. And we’re saving for college and retirement. This is DC. $300k pre-tax for a family of 4 isn’t all that much.

Families with more than two kids maybe shouldn’t be asking for financial aid in the first place. Having a large family is a choice. No different from purchasing a $6M house or a $300k vehicle.

Someone should have chosen to not have you.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just under $300k when we applied to well reputed (non-religious) privates for 6th grade. Tuition was in the 50s on average. We got a few paltry offers of $10k but mostly nothing. The one school that waitlisted our kid (who got into the rest) said they’d be admitted if willing to full pay.

We stayed in public.

On that income yuo can afford full pay. That's crazy you expect that much help.

That’s not true. That’s $300k before taxes. See my very basic breakdown above.

You are free to feel that way. But $10k is generally the amount that we donate every year. If I found out (and I wouldn't, but if I did) that the school offered $10k to a family with an HHI of $300k, my contributions would come to a screeching halt.

We’re that family. We live in a small rowhouse in DC. We have two kids. After taxes and the mortgage etc., we don’t have a shit ton left. And we’re saving for college and retirement. This is DC. $300k pre-tax for a family of 4 isn’t all that much.

Families with more than two kids maybe shouldn’t be asking for financial aid in the first place. Having a large family is a choice. No different from purchasing a $6M house or a $300k vehicle.

I donMt understand this. Having 1 kid is a choice too… nobody should ask for aid then

[Anonymous]

We are at a well resourced large K-12 and receive aid. Our HHI is around 300K. We have multiple children. We bought our house in 2020 for about 500K, had to put some work into it, drive two beat up cars, pay a lot in grad school student loans. We feel grateful to get aid and certainly feel like we are in the bottom 10% of families based on household wealth...this may or may not be true.

[Anonymous]

Like clockwork the financial aid posts devolve to the "you shouldn't have had more than 1 kid" troupe.

[Anonymous]

Anonymous wrote:We are at a well resourced large K-12 and receive aid. Our HHI is around 300K. We have multiple children. We bought our house in 2020 for about 500K, had to put some work into it, drive two beat up cars, pay a lot in grad school student loans. We feel grateful to get aid and certainly feel like we are in the bottom 10% of families based on household wealth...this may or may not be true.

We have three kids so we do have a pipeline effect for our school. I hope we are good members of the community - we try and volunteer whenever possible and always donate at fundraisers to help the school meet participation targets.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just under $300k when we applied to well reputed (non-religious) privates for 6th grade. Tuition was in the 50s on average. We got a few paltry offers of $10k but mostly nothing. The one school that waitlisted our kid (who got into the rest) said they’d be admitted if willing to full pay.

We stayed in public.

On that income yuo can afford full pay. That's crazy you expect that much help.

That’s not true. That’s $300k before taxes. See my very basic breakdown above.

You are free to feel that way. But $10k is generally the amount that we donate every year. If I found out (and I wouldn't, but if I did) that the school offered $10k to a family with an HHI of $300k, my contributions would come to a screeching halt.

We’re that family. We live in a small rowhouse in DC. We have two kids. After taxes and the mortgage etc., we don’t have a shit ton left. And we’re saving for college and retirement. This is DC. $300k pre-tax for a family of 4 isn’t all that much.

Of course it is, you just made a choice to buy a crazy expensive rowhouse instead of something cheaper. We make far less and live comfortably.

[Anonymous]

Anonymous wrote:We are at a well resourced large K-12 and receive aid. Our HHI is around 300K. We have multiple children. We bought our house in 2020 for about 500K, had to put some work into it, drive two beat up cars, pay a lot in grad school student loans. We feel grateful to get aid and certainly feel like we are in the bottom 10% of families based on household wealth...this may or may not be true.

They should not be giving aid on that income.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We are at a well resourced large K-12 and receive aid. Our HHI is around 300K. We have multiple children. We bought our house in 2020 for about 500K, had to put some work into it, drive two beat up cars, pay a lot in grad school student loans. We feel grateful to get aid and certainly feel like we are in the bottom 10% of families based on household wealth...this may or may not be true.

They should not be giving aid on that income.

We got aid - and basically the same package - from multiple schools when we applied. I suspect it happens more than you realize. If you do the math with three kids starting at 300K before taxes, private school at 40K per child isn't happening without aid.

[Anonymous]

Anyone with a HHI of less than $500k should get some aid in this area.