Reply to FA Question: Inherited house, now worth $1M, now what?

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[quote=Anonymous][quote=Anonymous]23:22 Your points are not persuasive. If they'd invested in private schools, then their net worth would not be over $1 million and yes they should be eligible for FA. Of course OP should not have turned down the house.

People's reactions are strong here because of perceived inequities and a distorted sense of entitlement. As for loopholes, what examples can you give on this magnitude?

Questions from folks with [b]high HHI[/b] and large mortgages and graduate school loans who expect FA at private school get a strong reaction over on the private school forum. This is not new..[/quote]

Not PP, but this family does not have a high HHI, so the comparison is not very apt.

And as for loopholes, hasn't PP given the example of retirement accounts over and over again? If OP had a million in a retirement account, none of it would be counted towards financial aid, and the expected family contribution would be even lower (since a portion of the home equity *does* count).[/quote]

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