Reply to ok, don't crucify me.. question about financial aid.

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Our HHI is $220K, two kids with tuition at $22K per kid and we get zero aid. However, we do know people who are not honest on their FA application forms and who get significant FA aid even though they make more than we do. [/quote]

Don't they have to submit tax returns?[/quote]

Yes, at every school we looked at, you did. I'm guessing there may be some guesswork on PP's part there, because really, who is out there saying "I make $300K but we lied about it on our FA forms, and woohoo! Full ride!" ?!?

More likely, PP is probably making some assumptions about people's income, and possibly about how much aid they get, and almost certainly about what they actually wrote on the form. Because I really, really doubt that the few people out there who are lying on the FA forms are advertising it (but maybe I'm just not at the right school...)

In general, I have a vague sense of how much people make, in that I know what their professions are (so I assume two lawyers are north, and maybe well north, of $300K; I assume two public sector employees are south of it; I make some broad generalizations about doctors based on their specializations). I have a general sense of who gets aid among families I know well, and none at all among families I don't. I know where people live, although not necessarily when they bought their homes (if they own), which makes a difference in how much they cost. And for families I know well, I know where and how often they vacation.

Beyond that, I know very, very little about finances. Some of the high income families might also have very high debt that the school is considering; some of the vacationing families may have parents who pay for that (or for school, or for houses). I really have no idea, and I doubt PP has much more inside info about the families at her school who she believes are cheating.[/quote]

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