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Reply to "What HHI for financial aid?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]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. [/quote] On that income yuo can afford full pay. That's crazy you expect that much help.[/quote] That’s not true. That’s $300k before taxes. See my very basic breakdown above.[/quote] 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. [/quote] 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. [/quote] 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.[/quote] 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.[/quote] Giving discounts on tuition has an opportunity cost when you could be charging full price. Families who are full pay tuition are better for the school, from a budget perspective. [/quote] Incorrect. Two kids at 100% tuition is less money than 4 kids at 60%. The schools are using FA in a financially beneficial manner. None if this has to do with "dessert." FA decisions are not made on the basis of who deserves aid. [/quote] Those four spots could go to four full pay kids. What meds are you on?[/quote] But they won't get 4 full pay spots. Most families of 4 will either go public, or go to a different private that offers them FA. In your version of the world, there are sufficient well qualified and well behaved students willing to pay full tuition, yet the school passes them up to offer FA to someone else. Why? It's not charitable impulse, since we agree there are many more needy families. So what's your theory of why this happens? [/quote] The financial aid offices, created a long time ago, exist to do this. It is administrative bloat and these offices have expanded to become an enormous part of their budget. They no longer function like they were intended. [b]They cherry pick some families to give aid to that are already high income while causing tuition to increase for everyone else.[/b] They should just pass on the families who want discounts and dramatically shrink the financial aid offices.[/quote] Why, in your opinion, do they do this? These are multi-million dollar organizations with budgets overseen by a board. Explain to me why you think this is happening if not a business reason. [/quote]
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