Reply to FA shouldn't go to people with 1 million dollar houses

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[quote=Anonymous][quote=Anonymous]12:32 I knew what I was signing up for, absolutely, but I didn't know that people abused the FA process and I didn't know that so many people, including apparently you, seem just fine with that. For the record, my child would probably get $6,000 - $8,000 in aid if we applied. You're telling me that's peanuts? I know tuition doesn't cover the full cost (duh). That's besides the point. This is $6,000 - $8,000 less the school has to raise each year. That's basic math. If a few more families did that, we'd be able to give a full scholarship. And you think that's not problematic? I mean, people with second homes on FA? Yes! And children's trust funds don't get counted. Amazing! The system is WACKED.

I clicked around for information on FA and Bullis' (my child does not attend, we know several children who do) covers many of the very things we've discussed here. So obviously the FA folks are thinking this through.

Who qualifies for financial aid at Bullis?
All financial aid at Bullis is need based. Aid amounts are based exclusively on demonstrated financial need. We try to accommodate as many families as possible within the financial aid budget the Board approves each year.
Bullis expects that a family will have researched all of its own resources before coming to the school for financial aid. Since the school wants to give financial aid to the families that need it the most, we have to be able to assess the financial strength of each family applying for aid. To do this, many factors need to be considered. Some of these include: (1) income, both taxable and nontaxable; (2) assets (home equity, other real estate, savings, stocks, etc.); (3) number of dependents; (4) age of parent(s); and (5) number of children attending tuition-charging schools. We also consider a number of variables when making tuition aid awards: consumer debt, earning potential for spouse not employed outside the home, automobiles (fair market and/or lease value), recreational vehicles, second homes, vacation expenses and student travel/enrichment activities.
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All the schools have the same requirements that you listed above (from Bullis). This is nothing new. This has been the case for many years.[/quote]

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