Reply to "free tuition for people making under $x" is problematic

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Reply to ""free tuition for people making under $x" is problematic"

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[quote=Anonymous][quote=Anonymous]Lots of hiding assets going on. I know someone who runs a fairly successful college counseling/tutoring biz, and posted openly on a forum that her HHI is below $70k. Yeah no, that's your REPORTED income...[/quote]

It honestly wouldn't surprise me if that was her real income. People with businesses like that are often working a lot less than full time. Often they are parents who started the business as a side gig while being the primary parent. Even it the business is successful and their rates are high, they may only be working 10-20 hours a week. If there's a tutoring side to it, mostly likely the are subcontracting out a lot of the tutoring work and just taking a cut for setting up and arranging clients -- the tutoring side may not be much of a revenue driver but can help get clients in the door for counseling and allows her to offer a more well rounded product.

I don't do college counseling but I'm a small business owner in a similar field who works part time so that I can parent the rest of the time, and I make anywhere from 30-60k annually. I make more in years where I am willing to work during family vacations and holidays (because you can't always choose when a client comes in or what their timeline is, and sometimes you sacrifice in order to get an extra payday). I've also had years where one of my kids needed a lot more of me and I just could not take on as many clients as I would have liked. I don't get any paid leave, including sick leave, I don't have a retirement plan, I have to pay quarterly taxes, and I have to keep my own books. Not complaining -- I am very fortunate to have a job like this because it allows me to be the parent I want to be while still bringing money into our household. But I'm not raking it in at all.

People always assume I make a ton of money because I'm well educated and some of my clients sound impressive. But even for one of my top clients with a big name, my payday is rarely more than 20k before overhead. And that's for like 9 months of work. I'm running a one-woman shop doing very specific work that people like to have but is not essential. It's not a cash cow.[/quote]

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