Reply to FA in BMS and Gillman

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Wow, thanks for the wake-up call.

My kids go to a Baltimore private and we are generous donors to the school. After reading this thread I’ll be decreasing my donation significantly and will designate where the funds go. Why should we work so hard so that a family making a high income can send multiple children to private school?[/quote]

I am skeptical. Because anyone paying 40k+ tuition especially for multiple kids know how much of a burden it is unless you are genuinely wealthy. Even on a 400k HHI in Baltimore, which is really good for Baltimore, you would absolutely feel the financial bite if you were paying 80-82k a year out of your take home for two kids. That money doesn't exist in a void, it competes with things like college savings, mortgages, retirement. And now you're attacking someone with a 275k HHI getting 15k for one kid because they're paying for college for the other? She's still paying 25k plus the tuition for her college kid, which means she's spending a lot of money.

I don't think the Baltimore schools want to go the route of the DC schools, 90% rich kids and 10% massive financial aid. There are just not that many families in Baltimore who can afford the full tuition (which we see with some student body numbers declining compared to 25 years ago).

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You can comfortably pay.  Stop acting like you cannot. [/quote]

With hhi 275k, comfortably pay? No way. With that income, you take home 180k. You need put 88k into kids tuition. You need use the remaining for mortgage, daily life expense, and retirement. It is hard. But frankly speaking with that income I will not sacrifice my life for kids tuition which I will let my kids stay in public.[/quote]

So you want to take financial aid from private school so you can use that money to pay for the second kid’s college expenses instead?  Why is the private school for kid one essentially funding college expenses for kid two?  This is beyond absurd.

I don’t understand the mindset of grabbing all the handouts possible instead of earning the lifestyle you want.  If you want two kids in private school, or to fund your kid’s college expenses while having another one in private school, you should have been planning for this over a decade ago and adjusted your savings and income.  What exactly was your plan?  Just to lean on financial aid wherever you can get it? [/quote]

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