Anonymous wrote:Thanks for this information. Yes, our net income after taxes only is about $200K. Other deductions like retirement contributions, health insurance, etc. account for about $50,000, so our net take-home income is about $150,000.

Do schools adjust the parent contribution amount differently than what is shown on the Family Contribution Report that we see to account for cost of living in high-cost areas, etc.?

Anonymous wrote:Thanks for this information. Yes, our net income after taxes only is about $200K. Other deductions like retirement contributions, health insurance, etc. account for about $50,000, so our net take-home income is about $150,000.

Do schools adjust the parent contribution amount differently than what is shown on the Family Contribution Report that we see to account for cost of living in high-cost areas, etc.?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:At $150 HHI we had an estimated family contribution of about $20K for one child. When we had a job change and bumped up to $200 HHI we decided that we would not apply for aid anymore, and are paying a little over $30K. It’s fine and we’re happy to do it, but if it were more than 30k I don’t think we could swing it very well. I would guess that your EFC would be somewhere in that neighborhood.

Lol. Hang on, I just realized that you’re talking “net”. FA officers don’t care about net, they care about gross, because what you choose to contribute to retirement etc is your personal choice, not your actual financial circumstance.

So if your net is 150, my guess is that your EFC’s probably closer to 30k, and if your net is 200, you ain’t getting aid.

Not true. I know kids who got aid this past season with incomes over $400K. I do not say this to stir the pot but to encourage everyone to apply. If they want your kid badly enough they will find the aid.
The morale is: APPLY!!

If indeed that is true — and you don’t know the whole story unless you’ve personally seen the paperwork — there is some extremely unusual circumstance going on there. It is true that it does not hurt to apply, but OP certainly shouldn’t get her hopes up, because that is way, way over the threshold for most schools.

It is 100% true and I was surprised by it. However, I think schools are trying to create a middle ground: they don't want all kids from HHI over $750K (which seems to be increasingly what the average full pay family makes) and under $150K (the traditional aid bar).
People making $200-450K are effectively shut out from being able to afford school (at $50K/kid) if they have more than one kid but the schools want these families as they're the children of professionals in lower paying careers. So they're giving them aid. No school wants a balance of only law partners/CEOS and "poor" kids but this is what they'll get with tuition of $50K+ they raise the financial aid bar.

I’m afraid you have an incorrect view of the school’s reason for giving FA. They are just like the airlines trying to fill the plane before take off. They exhaust the supply of full pay applicants that want. And then offer discount the price to others to reach capacity.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:At $150 HHI we had an estimated family contribution of about $20K for one child. When we had a job change and bumped up to $200 HHI we decided that we would not apply for aid anymore, and are paying a little over $30K. It’s fine and we’re happy to do it, but if it were more than 30k I don’t think we could swing it very well. I would guess that your EFC would be somewhere in that neighborhood.

Lol. Hang on, I just realized that you’re talking “net”. FA officers don’t care about net, they care about gross, because what you choose to contribute to retirement etc is your personal choice, not your actual financial circumstance.

So if your net is 150, my guess is that your EFC’s probably closer to 30k, and if your net is 200, you ain’t getting aid.

Not true. I know kids who got aid this past season with incomes over $400K. I do not say this to stir the pot but to encourage everyone to apply. If they want your kid badly enough they will find the aid.
The morale is: APPLY!!

If indeed that is true — and you don’t know the whole story unless you’ve personally seen the paperwork — there is some extremely unusual circumstance going on there. It is true that it does not hurt to apply, but OP certainly shouldn’t get her hopes up, because that is way, way over the threshold for most schools.

It is 100% true and I was surprised by it. However, I think schools are trying to create a middle ground: they don't want all kids from HHI over $750K (which seems to be increasingly what the average full pay family makes) and under $150K (the traditional aid bar).
People making $200-450K are effectively shut out from being able to afford school (at $50K/kid) if they have more than one kid but the schools want these families as they're the children of professionals in lower paying careers. So they're giving them aid. No school wants a balance of only law partners/CEOS and "poor" kids but this is what they'll get with tuition of $50K+ they raise the financial aid bar.

I’m afraid you have an incorrect view of the school’s reason for giving FA. They are just like the airlines trying to fill the plane before take off. They exhaust the supply of full pay applicants that want. And then offer discount the price to others to reach capacity.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:At $150 HHI we had an estimated family contribution of about $20K for one child. When we had a job change and bumped up to $200 HHI we decided that we would not apply for aid anymore, and are paying a little over $30K. It’s fine and we’re happy to do it, but if it were more than 30k I don’t think we could swing it very well. I would guess that your EFC would be somewhere in that neighborhood.

Lol. Hang on, I just realized that you’re talking “net”. FA officers don’t care about net, they care about gross, because what you choose to contribute to retirement etc is your personal choice, not your actual financial circumstance.

So if your net is 150, my guess is that your EFC’s probably closer to 30k, and if your net is 200, you ain’t getting aid.

Not true. I know kids who got aid this past season with incomes over $400K. I do not say this to stir the pot but to encourage everyone to apply. If they want your kid badly enough they will find the aid.
The morale is: APPLY!!

If indeed that is true — and you don’t know the whole story unless you’ve personally seen the paperwork — there is some extremely unusual circumstance going on there. It is true that it does not hurt to apply, but OP certainly shouldn’t get her hopes up, because that is way, way over the threshold for most schools.

It is 100% true and I was surprised by it. However, I think schools are trying to create a middle ground: they don't want all kids from HHI over $750K (which seems to be increasingly what the average full pay family makes) and under $150K (the traditional aid bar).
People making $200-450K are effectively shut out from being able to afford school (at $50K/kid) if they have more than one kid but the schools want these families as they're the children of professionals in lower paying careers. So they're giving them aid. No school wants a balance of only law partners/CEOS and "poor" kids but this is what they'll get with tuition of $50K+ they raise the financial aid bar.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:At $150 HHI we had an estimated family contribution of about $20K for one child. When we had a job change and bumped up to $200 HHI we decided that we would not apply for aid anymore, and are paying a little over $30K. It’s fine and we’re happy to do it, but if it were more than 30k I don’t think we could swing it very well. I would guess that your EFC would be somewhere in that neighborhood.

Lol. Hang on, I just realized that you’re talking “net”. FA officers don’t care about net, they care about gross, because what you choose to contribute to retirement etc is your personal choice, not your actual financial circumstance.

So if your net is 150, my guess is that your EFC’s probably closer to 30k, and if your net is 200, you ain’t getting aid.

Not true. I know kids who got aid this past season with incomes over $400K. I do not say this to stir the pot but to encourage everyone to apply. If they want your kid badly enough they will find the aid.
The morale is: APPLY!!

If indeed that is true — and you don’t know the whole story unless you’ve personally seen the paperwork — there is some extremely unusual circumstance going on there. It is true that it does not hurt to apply, but OP certainly shouldn’t get her hopes up, because that is way, way over the threshold for most schools.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:At $150 HHI we had an estimated family contribution of about $20K for one child. When we had a job change and bumped up to $200 HHI we decided that we would not apply for aid anymore, and are paying a little over $30K. It’s fine and we’re happy to do it, but if it were more than 30k I don’t think we could swing it very well. I would guess that your EFC would be somewhere in that neighborhood.

Lol. Hang on, I just realized that you’re talking “net”. FA officers don’t care about net, they care about gross, because what you choose to contribute to retirement etc is your personal choice, not your actual financial circumstance.

So if your net is 150, my guess is that your EFC’s probably closer to 30k, and if your net is 200, you ain’t getting aid.

Not true. I know kids who got aid this past season with incomes over $400K. I do not say this to stir the pot but to encourage everyone to apply. If they want your kid badly enough they will find the aid.
The morale is: APPLY!!

Anonymous wrote:

Anonymous wrote:At $150 HHI we had an estimated family contribution of about $20K for one child. When we had a job change and bumped up to $200 HHI we decided that we would not apply for aid anymore, and are paying a little over $30K. It’s fine and we’re happy to do it, but if it were more than 30k I don’t think we could swing it very well. I would guess that your EFC would be somewhere in that neighborhood.

Lol. Hang on, I just realized that you’re talking “net”. FA officers don’t care about net, they care about gross, because what you choose to contribute to retirement etc is your personal choice, not your actual financial circumstance.

So if your net is 150, my guess is that your EFC’s probably closer to 30k, and if your net is 200, you ain’t getting aid.

Anonymous wrote:At $150 HHI we had an estimated family contribution of about $20K for one child. When we had a job change and bumped up to $200 HHI we decided that we would not apply for aid anymore, and are paying a little over $30K. It’s fine and we’re happy to do it, but if it were more than 30k I don’t think we could swing it very well. I would guess that your EFC would be somewhere in that neighborhood.

Anonymous wrote:Does anyone with a net household income of $150K - $200K receive financial aid at a private/independent elementary or middle school? How many kids are you paying tuition for and what kind of financial aid package have you received?