Reply to FA Question: Inherited house, now worth $1M, now what?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]This is stunning. Your net worth is over $1 million, and you want financial aid. What are you doing with your earnings? Just because you could not afford to buy this home does not mean you deserve FA. The sense of entitlement ...[/quote]

Yes, I do want financial aid. I didn't earn $1M. My house increased in value, but that has nothing to do with me. I have saved what I've been able to save on my income. I think FA should take into consideration an individual's situation. I have been living on a fairly low income for a long time. I lucked into the house, but it's where my family lives. Would you sell your only home just to finance your child's education? I don't think that's reasonable. If I'd inherited stocks that increased in value, well, that's different, because I could sell them without jeopardizing my family. But our house? We're not making any income off of it. We live in it.

I'm not going to convince you. I just want to find out if anyone in a similar situation has dealt with this.

On an income of $104K (pre-tax) do you honestly think we could come up with anything close to $60K for college tuition?

That's insane. [/quote]

What's insane is that the median family in America makes half of what you do and with only 65% of Americans owning a house, many of those people rent. How many are sitting on $1m home, even one with unrenovated bathrooms. Have you considered how many children deserve and need scholarships? You are certainly more deserving than others with greater assets, but your attitude is disturbing. You chose to have four kids and you would like to stay in the house, so what gives? [/quote]

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