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Reply to "People with $1.2M+ homes and getting significant financial aid"
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[quote=Anonymous][quote=Anonymous]I don’t see why this should bother you. We bought our house for $850k and have a 2.5 percent mortgage. It’s now worth close to 2 million. My husband’s income has gone up a little but we are a single income family since I took a step back so he could advance his career and I have a small part-time work from home job. If we ever decide to make the move to private, we would be on the hook for $60,000 plus per kid if we chose the options that suit our families needs (Bullis, Saint Andrew’s). This would be a crippling level of debt when you take into consideration the rest of our expenses and our lives. Why should we be penalized because we made a great decision with our home all those years ago? I don’t see why that’s an issue. [/quote] Financial aid is not an entitlement. Your house is an asset just like a savings account or inheritance. You could use that asset to pay tuition. [/quote]
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