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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We get aid for 2 kids in HS and our house is worth $1.5M.  I'll tell you why.

Just having our house worth this much goes not mean we're loaded as we brought our house for less than $1M.  Also, are we supposed to sell our house and move where? Our mortgage is low but property tax high.  We could move far far away and pay the same mortgage with current rates and it would not mean anything as our current house is prob less in mortgage.  The fact our house is worth a certain amount does not mean it's liquid assets. We still need a home!

Thankfully, FA takes into consideration logical and practical reality.  It's not like we own 2 homes, drive new cars or go on fancy vacations.  We can't help that our home tripled in value since owning it but it's our big savings and investment. And FA does not mean a free ride to school, it means that we pay what we can per our income. [/quote]

It’s called a home equity loan. Or line of credit. Or tap 10k of your student’s 529. Do these things before asking strangers to pay your way.[/quote]

Or we can take aid.  Given by the private equity dads at our school who work about 20 hours a week (with a SAH wife) and are at every single school and sporting event. While we're working 50 hours a week as high level fed and a non-profit worker. 
I'll take the money with no guilt, thank you.  [/quote]

You should have written, “I’ll take other people’s money with no guilt, thank you.” At least be honest and upfront about what you are doing.[/quote]
It’s the school’s money, actually. You relinquished any say over it when you donated to the school without earmarking for a different purpose. And the school decided to give some of ITS MONEY to pp. The school gets to decide, and there’s no reason for pp to feel guilty about it. [/quote]

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