FA - real life

[Anonymous]

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Anonymous wrote:I think 300k with middle class and up parents is one thing, but a dual income 300k HHI family who climbed their way up from the working class is just in a different boat, too. I’d be mad at the people getting an inheritance later, not mad at the family who has to financially support their parents in old age or who themselves attended shitty public schools and made every sacrifice to land a job making 150k.

You are not middle class at $300K.

It’s 85th percentile in DC proper. Likely lower when considering the suburbs.

I posted the original comment. I meant a 300k HHI family where the parents’ parents come from working class backgrounds are a different type of family than one where kid’s grandparents are doctors and investment bankers, etc. Feel free to disagree and none of this is reflected in financial aid forms but I think these are different types of people.

300k is not middle class.

I say this with respect, but please reread the comment. I didn’t say 300k is middle class. I’m talking about people who worked their way up from nothing now making 300k combined. This is fundamentally different than people from privileged backgrounds deciding on careers that make them less affluent than their parents. One category will need up support the previous generation, the other category will receive an inheritance.

Tell me you don’t know about elder care costs without telling me you don’t know about elder care costs. No one except the extraordinarily rich can bank on an inheritance. My grandparents drained almost everything on the skilled nursing care they required.

So you’re telling me there’s not a fundamental difference between these two categories of people? If you grew up upper middle class and stayed that way, your experience is equivalent to someone who grew up with next to nothing?

I’m just saying that a number doesn’t reflect what it took to get there and I don’t begrudge people who worked their ass off for what they have and aren’t getting any breaks anywhere else in life. But that’s me. You do you. Enjoy your Christmas check from your parents.

[Anonymous]

Anonymous wrote:

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Anonymous wrote:

Anonymous wrote:I think 300k with middle class and up parents is one thing, but a dual income 300k HHI family who climbed their way up from the working class is just in a different boat, too. I’d be mad at the people getting an inheritance later, not mad at the family who has to financially support their parents in old age or who themselves attended shitty public schools and made every sacrifice to land a job making 150k.

You are not middle class at $300K.

It’s 85th percentile in DC proper. Likely lower when considering the suburbs.

I posted the original comment. I meant a 300k HHI family where the parents’ parents come from working class backgrounds are a different type of family than one where kid’s grandparents are doctors and investment bankers, etc. Feel free to disagree and none of this is reflected in financial aid forms but I think these are different types of people.

300k is not middle class.

I say this with respect, but please reread the comment. I didn’t say 300k is middle class. I’m talking about people who worked their way up from nothing now making 300k combined. This is fundamentally different than people from privileged backgrounds deciding on careers that make them less affluent than their parents. One category will need up support the previous generation, the other category will receive an inheritance.

Tell me you don’t know about elder care costs without telling me you don’t know about elder care costs. No one except the extraordinarily rich can bank on an inheritance. My grandparents drained almost everything on the skilled nursing care they required.

So you’re telling me there’s not a fundamental difference between these two categories of people? If you grew up upper middle class and stayed that way, your experience is equivalent to someone who grew up with next to nothing?

I’m just saying that a number doesn’t reflect what it took to get there and I don’t begrudge people who worked their ass off for what they have and aren’t getting any breaks anywhere else in life. But that’s me. You do you. Enjoy your Christmas check from your parents.

Their experiences aren’t similar at all. But there’s also zero reasonable assumption that people with middle class or white collar parents will receive an inheritance or are getting any financial support from their parents (and financial support from parents has to be reported for FA anyhow).

If your point is that people from lower SES histories should be prioritized for financial aid, that’s fine. But if your rationale is that these people have more money to work with or will have more money to work with, I’m telling you that’s a false assumption.

[Anonymous]

Anonymous wrote:

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Anonymous wrote:I think 300k with middle class and up parents is one thing, but a dual income 300k HHI family who climbed their way up from the working class is just in a different boat, too. I’d be mad at the people getting an inheritance later, not mad at the family who has to financially support their parents in old age or who themselves attended shitty public schools and made every sacrifice to land a job making 150k.

You are not middle class at $300K.

It’s 85th percentile in DC proper. Likely lower when considering the suburbs.

I posted the original comment. I meant a 300k HHI family where the parents’ parents come from working class backgrounds are a different type of family than one where kid’s grandparents are doctors and investment bankers, etc. Feel free to disagree and none of this is reflected in financial aid forms but I think these are different types of people.

300k is not middle class.

I say this with respect, but please reread the comment. I didn’t say 300k is middle class. I’m talking about people who worked their way up from nothing now making 300k combined. This is fundamentally different than people from privileged backgrounds deciding on careers that make them less affluent than their parents. One category will need up support the previous generation, the other category will receive an inheritance.

Tell me you don’t know about elder care costs without telling me you don’t know about elder care costs. No one except the extraordinarily rich can bank on an inheritance. My grandparents drained almost everything on the skilled nursing care they required.

So you’re telling me there’s not a fundamental difference between these two categories of people? If you grew up upper middle class and stayed that way, your experience is equivalent to someone who grew up with next to nothing?

I’m just saying that a number doesn’t reflect what it took to get there and I don’t begrudge people who worked their ass off for what they have and aren’t getting any breaks anywhere else in life. But that’s me. You do you. Enjoy your Christmas check from your parents.

Curious what you think about a family where one parent came from poverty and another was raise middle class. Are they deserving of aid?

[Anonymous]

lol a”Christmas checks” from your parents actually a thing?

[Anonymous]

Anonymous wrote:lol a”Christmas checks” from your parents actually a thing?

It’s absolutely a thing.

So is getting money for a wedding, to put toward a down payment on a house, to pay for kid’s daycare or nanny…and it goes on and on.

[Anonymous]

Anonymous wrote:

Anonymous wrote:lol a”Christmas checks” from your parents actually a thing?

It’s absolutely a thing.

So is getting money for a wedding, to put toward a down payment on a house, to pay for kid’s daycare or nanny…and it goes on and on.

I come from an upper middle class family and haven’t gotten any of those things. My parents are firmly in the camp that they are absolved of financial responsibility following graduation from undergrad. My dad did give me an interest-free loan for a mattress when I was 23, though.

[Anonymous]

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Anonymous wrote:I think 300k with middle class and up parents is one thing, but a dual income 300k HHI family who climbed their way up from the working class is just in a different boat, too. I’d be mad at the people getting an inheritance later, not mad at the family who has to financially support their parents in old age or who themselves attended shitty public schools and made every sacrifice to land a job making 150k.

You are not middle class at $300K.

It’s 85th percentile in DC proper. Likely lower when considering the suburbs.

I posted the original comment. I meant a 300k HHI family where the parents’ parents come from working class backgrounds are a different type of family than one where kid’s grandparents are doctors and investment bankers, etc. Feel free to disagree and none of this is reflected in financial aid forms but I think these are different types of people.

300k is not middle class.

I say this with respect, but please reread the comment. I didn’t say 300k is middle class. I’m talking about people who worked their way up from nothing now making 300k combined. This is fundamentally different than people from privileged backgrounds deciding on careers that make them less affluent than their parents. One category will need up support the previous generation, the other category will receive an inheritance.

Tell me you don’t know about elder care costs without telling me you don’t know about elder care costs. No one except the extraordinarily rich can bank on an inheritance. My grandparents drained almost everything on the skilled nursing care they required.

So you’re telling me there’s not a fundamental difference between these two categories of people? If you grew up upper middle class and stayed that way, your experience is equivalent to someone who grew up with next to nothing?

I’m just saying that a number doesn’t reflect what it took to get there and I don’t begrudge people who worked their ass off for what they have and aren’t getting any breaks anywhere else in life. But that’s me. You do you. Enjoy your Christmas check from your parents.

Curious what you think about a family where one parent came from poverty and another was raise middle class. Are they deserving of aid?

I think aid is dependent on the FA office and what they choose to do. It’s none of my business.

My comments are in regards to the 300k income and how that could look different for different families depending on their backgrounds, emergencies we don’t know about, and other factors that may or may not be accounted for in the FA application.

The HHI might be the same but the full picture isn’t.

[Anonymous]

I'm sorry, let me fix this for you....
You three kids, which is a luxury
Your HHI IS $300k,
AND send them to private school.

I don't know why I'm the one to break this to you, but you are living large.

[Anonymous]

Anonymous wrote:lol a”Christmas checks” from your parents actually a thing?

My kids and I don’t get anything and they are very comfortable.

[Anonymous]

Just look on markets website for example.
34% of aid recipients have a HHI of above 250K. And that could be for just one child.

[Anonymous]

Marets website


https://www.maret.org/admission/tuition-financial-aid

[Anonymous]

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Anonymous wrote:You would be a wealthy family in public school. However you want financial aid to put a total of 3 kids in private school instead. How does any of this make sense?

This, what do you consider a modest home. You made life choices, as in house cost and number of children and want a lifestyle above what you can afford. At 300K you should not get aid.

I disagree. We qualify for aid and we get aid. We got aid at every school we applied to and were very forthright with our documents. We selected a modest house to help free up cash for private school. The thing we value the most for our children is their education.

I think there are a lot of sour people on here who are mad that either they didn’t have another child or that they did apply for aid themselves. I don’t know how else to explain all of the bitterness.

Some of us consider you to be a swindler, living beyond your means and asking the school community to pay your bills. You man not realize it, but if you are accepting financial aid you have a responsibility to improve your financial situation and try to get off aid as soon as possible. You shouldn’t expect to be on aid year after year. You should try hard to pay your own bills.

Thank goodness financial aid is kept private. However, you should know that there are people like me at all schools. We walk among you.

We were not planning on applying for our younger two children until the admissions office encouraged us to apply and to apply for aid. Our jobs are in DC and both of us are far enough along in our careers that we’re not going to get massive bumps in pay. We put earnings into college and we do expect to use aid until our children graduate. I spoke very directly about this with the aid office and they said that we would expect to receive the same aid every year. Of course if something did change, we would certainly be direct in our aid forms and at some point not apply.

If you have that kind of wealth to fully save for college and retirement you should not get aid.

+1 OP should really be ashamed. What a disgrace.

+100

[Anonymous]

No self respecting human with over $300k in income would apply for financial aid.

[Anonymous]

Anonymous wrote:Just look on markets website for example.
34% of aid recipients have a HHI of above 250K. And that could be for just one child.

Yes, this is common and it’s why all of the shocked responses on here are so telling about who these posters actually are. They aren’t full-pay local parents.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Just look on markets website for example.
34% of aid recipients have a HHI of above 250K. And that could be for just one child.

Yes, this is common and it’s why all of the shocked responses on here are so telling about who these posters actually are. They aren’t full-pay local parents.

We are locals. Above $250k is one thing. But $300k - $400k on financial aid just seems criminal.