Reply to Making $300K and getting financial aid for a first grader

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]HHI=120K in DC
Offer was 4k off 23K, starting at 6th grade
Answer to school was no thank you.

I think we have too little debt, too much home equity and a SAHM. None of which we are willing to change as it would negative impact on the other members of the family.

It was difficult, but, in the end, probably the best decision for all concerned.[/quote]

4K off 23K tuition sounds like a very good offer.  What was your expectations of FA amount?[/quote]

Thanks for asking. I did a LOT of number crunching. We could have done it, but it would be hard to save anything after tuition. We, unfortunately, don't have a ton cushion (emergency funds, college, retirement, etc). I'm not whining. I just know what kind of sacrifice it would be to pay $19k plus. If the SAHM returned to work, there would be increased expenses and no guarantee of enough after tax income that would compensate for the benefit of having someone at home.

I was hoping for $9K. That might have sealed the deal. That's just how tight it is here. So we'll re-visit this situation when it's time for HS. There are a lot more options for HS both public and private. Meanwhile, we'll work to get our financial house in better shape. It was definitely worth trying. We met some very nice folks during the process. I only posted to help people get a realistic idea of what could happen. I only wish that I could have known earlier in the process so as not to get too emotionally attached to any school. Because, at the end of the day, you have choose what's best for the entire family - not just one member.[/quote]

Wait, SAHM is doing what during the day while 5th grader is at school? Can't she work part time and help defray some of the costs? If tuition is $19k, that's easily covered by a part-time salary. I'm just not getting what you mean when you say the benefit of her being home is worth more than your kid going to a good school, if we're talking about a 11-year-old. A 2-year-old, sure, but 11? I guess, as a working mom, I just am not computing the value of having someone at home full-time when the kids are that old, when you don't have a financial cushion.[/quote]

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