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

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

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 [/quote]

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. [/quote]

Middle income still isn't affording 25k. They give discounts to upper middle class kids. [/quote]

We are middle income (150k per year, live in a condo we bought for 500k, have one used Subaru) and this is our experience. We applied widely and DD aced the ISEE but the best we got in terms of aid still left us on the hook for 20k per year. Maybe if she was an athlete? We can't swing that, especially while saving for college.

I think middle income families at these schools often have grandparents who foot the bill, whether full pay or discounted. We don't have that option (grandparents are willing to help but can afford to contribute maybe a few thousand a year and again -- it makes more sense to put that in college funds).

We will try again for HS just to see but the economics just don't seem to make sense for a family at our income level. I think it made more sense a generation or two ago because housing prices and college costs were lower so it was easier for a middle income family to suck it up and come up with half the tuition without putting themselves in dire straights financially. That's actually why we applied in the first place -- a good famiily friend attended GDS for MS and HS even though her parents were middle class -- it was tight but doable. I am not convinced these families exist anymore without help from wealthier extended family. The math doesn't work.[/quote]

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