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

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[quote=Anonymous][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]

You could take out equity from your home to pay tuition. You could sell your current home and buy a cheaper one, using the proceeds to pay tuition. You, specifically, could get a full time job if you wanted to - you’re just choosing not to. FA evaluates/considers everything you own and have access to.

The Annual Fund is not for people like you or me (am in a similar situation - home value has more than doubled since purchase and we make around $400k). [b]We did not even think to apply for financial aid[/b]. [/quote]

The bolded is your issue and IMO is why the angry PPs are so angry. Too proud to apply, but angry other people did apply.

To the point about people who didn't save for private: a lot of people who have expensive houses, have them because they planned on public school. They put their money into living in a good school zone. Then, public school didn't work (variety of reasons) and they are changing course.  It's odd that you find this to be some kind of moral failing. [/quote]

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