Reply to How much do you spend on private school and what is your HHI?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]300k HHI- 10k with FA at 59K school. [/quote]

Why so much FA?? [/quote]

Our mortgage/HELOC extremely high. [/quote]

I don’t know of any FA formulas that take mortgage or HELOC into account. Most only look at income and assets and consider living expenses to be part of discretionary spending. If this person is telling the truth, their situation is unusual. [/quote]

Yes. I’m telling the truth. What you’re saying makes absolutely no sense. A mortgage is NOT discretionary. They take into account how much equity one has in their house in considering FA. Ours is a relatively new mortgage so not a lot of equity. People we know that are similarly situated get less because they can take money out of their house and pay for an education.

Bottom line, they have to look at how much income is left after you pay all of your bills and if you have a high mortgage with little equity, your ability to pay tuition is significantly limited. [/quote]

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