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]

You are so tone-death.  You can buy a cheaper house, just not where you want to live like the rest of us.  Our house is worth $600K, 900 square feet, and in an area you'd consider bad.  We paid $350K.  You can easily look it up online.  Being house-poor doesn't give you a free pass.  You need a home, but which home you choose should factor into aid.  You select an expensive house.  We choose not to be house poor to pay for things.  And, you can borrow against the house.[/quote]

Just wait until college rolls around, and your kids’ friends living in much nicer homes than your 900 square foot home get aid at schools that don’t include home equity. Your head is going to explode.

This is the problem with busying yourself with everyone else and the choices they make. You will never be satisfied.[/quote]

I fully expect we will get nothing as we saved.  But, we are responsible people. [/quote]

And you’ll still be complaining then because people in much nicer homes get aid while you don’t. But you can pat yourself on your back while sitting in your micro-home for how “responsible” you are, so there’s that.[/quote]

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