Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Why give out any FA if the Big 3 schools can fill their Pre-K and K class with qualified applicants (99+ % WPPSI, Full Pay)?
Because they can't , because not enough really smart kids exist, despite the game face on this forum.I know because my DC did score that high an dI know how he compares to his 70 or so classmates after all these years. I have also been shown his stanine scores as compared to rest of school. A 99th% kid is top 5% of his/her class. Now, where do you get the remaining 95% of the class from? Recruit them with FA.
Secondly, first and foremost, Private schools have to raise money because they get no Fed/State funding and many have endowments far below the minimum required amount : 4 X their yearly operating budget.They raise money by admitting the children of the wealthy that may be reasonably intelligent, but by no means brilliant. Their parents are ever so greatful and understand that it is their role to give $$$$$
Thirdly, Private Schools are all fund raising machines and if they did not give away some of what they raise in the form of FA, that money would be taxed and taxed SIGNIFICANTLY. The only shelter Private schools have for their money under non-profit status is : teacher and admin. salaries AND FA. They don't give to be nice, or to level the playing field , they give FA to balance their books. They only give it to smart or athletically talented kids who cannot pay full freight becuase they fully intend to get something out of those kids. There is no "free lunch"
Most schools claim that 18-25% of their student body receives FA. The majority of kids in a pre-k/k class aren't FA recruits.
I know several families who receive substantial FA and their children are of average intelligence and only okay athletes.
Dc receives FA and after all these years I know who the other families are who receive FA : smart kids and minorities( sometimes one and the same child, but some times not) and the school is getting something back from both of these types of kids
Anonymous wrote:Anonymous wrote:Anonymous wrote:Why give out any FA if the Big 3 schools can fill their Pre-K and K class with qualified applicants (99+ % WPPSI, Full Pay)?
Because they can't , because not enough really smart kids exist, despite the game face on this forum.I know because my DC did score that high an dI know how he compares to his 70 or so classmates after all these years. I have also been shown his stanine scores as compared to rest of school. A 99th% kid is top 5% of his/her class. Now, where do you get the remaining 95% of the class from? Recruit them with FA.
Secondly, first and foremost, Private schools have to raise money because they get no Fed/State funding and many have endowments far below the minimum required amount : 4 X their yearly operating budget.They raise money by admitting the children of the wealthy that may be reasonably intelligent, but by no means brilliant. Their parents are ever so greatful and understand that it is their role to give $$$$$
Thirdly, Private Schools are all fund raising machines and if they did not give away some of what they raise in the form of FA, that money would be taxed and taxed SIGNIFICANTLY. The only shelter Private schools have for their money under non-profit status is : teacher and admin. salaries AND FA. They don't give to be nice, or to level the playing field , they give FA to balance their books. They only give it to smart or athletically talented kids who cannot pay full freight becuase they fully intend to get something out of those kids. There is no "free lunch"
Most schools claim that 18-25% of their student body receives FA. The majority of kids in a pre-k/k class aren't FA recruits.
I know several families who receive substantial FA and their children are of average intelligence and only okay athletes.
Dc receives FA and after all these years I know who the other families are who receive FA : smart kids and minorities( sometimes one and the same child, but some times not) and the school is getting something back from both of these types of kids
Anonymous wrote:I'm not arguing that the old money person isn't upper class. And if you want to make a distinction between old money and new money, then fine, make it and call 2 million a year lawyer (whom I believe you just changed into a doctor making 1.8 million, but whatever) nouveau riche. But to call a person who is spending 110K (more than the HHI for over 85% of the US) a year on tuition alone "middle" anything is ludicrous. DC or not. Top 1% of earners has a lower boundary around 400K a year, so your example person is only in the "middle" of the top 1%. Even by the extremely broad definition Gilbert gives to upper middle class your person doesn't fit. For all the complaints about FA recipient entitlement, there sure seems to be a lot of class entitlement from posters in the upper strata of earners that is equally offensive.
Anonymous wrote:Anonymous wrote:Why give out any FA if the Big 3 schools can fill their Pre-K and K class with qualified applicants (99+ % WPPSI, Full Pay)?
Because they can't , because not enough really smart kids exist, despite the game face on this forum.I know because my DC did score that high an dI know how he compares to his 70 or so classmates after all these years. I have also been shown his stanine scores as compared to rest of school. A 99th% kid is top 5% of his/her class. Now, where do you get the remaining 95% of the class from? Recruit them with FA.
Secondly, first and foremost, Private schools have to raise money because they get no Fed/State funding and many have endowments far below the minimum required amount : 4 X their yearly operating budget.They raise money by admitting the children of the wealthy that may be reasonably intelligent, but by no means brilliant. Their parents are ever so greatful and understand that it is their role to give $$$$$
Thirdly, Private Schools are all fund raising machines and if they did not give away some of what they raise in the form of FA, that money would be taxed and taxed SIGNIFICANTLY. The only shelter Private schools have for their money under non-profit status is : teacher and admin. salaries AND FA. They don't give to be nice, or to level the playing field , they give FA to balance their books. They only give it to smart or athletically talented kids who cannot pay full freight becuase they fully intend to get something out of those kids. There is no "free lunch"
Anonymous wrote:Why give out any FA if the Big 3 schools can fill their Pre-K and K class with qualified applicants (99+ % WPPSI, Full Pay)?
Anonymous wrote:Anonymous wrote:fancy way of saying you are buying a more expensive peer groupAnonymous wrote:I pay for private school because I want my child to be with children of like minded parents--emphasis on education, respect, good manners. Placing children of a different SES that do not behave nicely, have the same values can foster resentment in their non FA peers. And like Obama said about bussing kids around...at the end of the day they have to come back to their home and deal with the problems there.
If a school gives FA to children with like-minded families and that are ready for the academic rigor then I have no problem with itt. I only have a problem when they use these minorities as tokens...it's not good for them or for the school.
A peer group where the kids get dunk on shampagne instead of beer
Either way, reminded me of the way the people used to justify segragation in the south
Segregation has it's advantages. Why is it that they have different learning groups in school? Teaching to like minded individuals is easier and less stressful for everyone involved....but if you want your kids to be with average joes then send them to public school. And good to know that you favor using people as tokens. What a way to build up someone's self esteem. Everytime you see a person of color in a high position you'll assume that it was thru affirmitive action.
Anonymous wrote:Anonymous wrote:You're all nuts, especially the lady/gentleman above who doesn't want her kids mixing with lower classes. I can't believe people like they exist anymore in the age group young enough to have school aged kids.
I disagree. I'm sure your DC's child is filled with kids whose parents are 55 and DC is 4 years old in pre-K. Definitely tons of parents born in the 60s when schools weren't fully integrated yet. So I can see why they have this anti-FA attitude. They're of the Civil Rights generation and they're passing the same bias and prejudice down to their kids.
Anonymous wrote:fancy way of saying you are buying a more expensive peer groupAnonymous wrote:I pay for private school because I want my child to be with children of like minded parents--emphasis on education, respect, good manners. Placing children of a different SES that do not behave nicely, have the same values can foster resentment in their non FA peers. And like Obama said about bussing kids around...at the end of the day they have to come back to their home and deal with the problems there.
If a school gives FA to children with like-minded families and that are ready for the academic rigor then I have no problem with itt. I only have a problem when they use these minorities as tokens...it's not good for them or for the school.
A peer group where the kids get dunk on shampagne instead of beer
Either way, reminded me of the way the people used to justify segragation in the south
Anonymous wrote:Financial aid should only be offered to high achieving college and high school tudents who cannot afford the full tuition; offering financial aid to pre-school kids based family income is not only unfair but a wast of school's resources.
Anonymous wrote:You're all nuts, especially the lady/gentleman above who doesn't want her kids mixing with lower classes. I can't believe people like they exist anymore in the age group young enough to have school aged kids.
Anonymous wrote:Anonymous wrote:Nope, he'd be nouveau riche or a parvenu. 2 million a year is not "upper middle class" even in DC.
annual income: 1.8 Million
annual Debt:
mortgage: 150,000
tuition( 3 kids in pre-k, 1st and 3rd grade: 110,000/yearly
student loans debt( self and wife): 600,000 total ( ? yearly)
long term care for parents( both husband and wife's):: 200,000/yearly
taxes: ?? 200,000 / year
malpractice insurance: 300,000/year
2 car payments: 50,000/year
savings for kids college: 75,000/year
Not exactly rich, huh.Get the picture ?