Anonymous
11/05/2019 14:08
Subject: Maximum HHI for obtaining financial aid?
Anonymous wrote:My ex husband will not financially contribute to tuition and doesn't even pay his court ordered child support. Am I required to include him in the FA application? I am hesitant because I doubt he would even give me his tax filings should any FA come our way.
Your FA application should leave room to explain this. You will put what your child support order is, but can explain that he is in arrears and what your actual expected family contribution will be. The school takes all of that into consideration. I too have a deadbeat ex and the school does not penalize us because I picked the wrong jerk once upon a time.
Anonymous
11/05/2019 09:57
Subject: Maximum HHI for obtaining financial aid?
My ex husband will not financially contribute to tuition and doesn't even pay his court ordered child support. Am I required to include him in the FA application? I am hesitant because I doubt he would even give me his tax filings should any FA come our way.
Anonymous
11/05/2019 08:37
Subject: Re:Maximum HHI for obtaining financial aid?
I've heard of people receiving it up to 300/400k HHI.
Anonymous
11/05/2019 08:32
Subject: Re:Maximum HHI for obtaining financial aid?
Anonymous wrote:Anonymous wrote:I think it depends heavily on the endowment for the school and the financial aid applicant pool. That said, it will probably be an uphill battle given what you say about your finances. We thought we'd qualify for FA and we were essentially laughed at - the amount they said we could pay, according to the FA calculators was absurd unless we sold our house and spent all of our assets. One of the issues is that your house, your 401K, your savings, all come into play when it comes to estimating what you can afford. It's all considered accessible income. So if you have little debt and the HHI you described, I'd find it hard to imagine you would get FA. But yes, do apply! That was our approach. If they want you, but they don't want to give you FA, they will just say that.
Typically, your savings would absolutely be in play, but your 401(k) and your home equity would not. I think that’s reasonable.
I mostly agree that home equity would not be a factor, but what about people who have relatively lower disposable income because they bought an incredibly expensive house? There seem to be plenty of people around here who make a lot of money but live much closer to paycheck to paycheck than you would imagine because they bought huge houses and/or drive fancy cars/and or take nice (or frequent) vacations. Does that factor in to the FA decisions (and should it)?
Anonymous
11/05/2019 06:44
Subject: Re:Maximum HHI for obtaining financial aid?
Anonymous wrote:I think it depends heavily on the endowment for the school and the financial aid applicant pool. That said, it will probably be an uphill battle given what you say about your finances. We thought we'd qualify for FA and we were essentially laughed at - the amount they said we could pay, according to the FA calculators was absurd unless we sold our house and spent all of our assets. One of the issues is that your house, your 401K, your savings, all come into play when it comes to estimating what you can afford. It's all considered accessible income. So if you have little debt and the HHI you described, I'd find it hard to imagine you would get FA. But yes, do apply! That was our approach. If they want you, but they don't want to give you FA, they will just say that.
Typically, your savings would absolutely be in play, but your 401(k) and your home equity would not. I think that’s reasonable.
Anonymous
11/04/2019 21:43
Subject: Maximum HHI for obtaining financial aid?
Anonymous wrote:If you do get awarded FA what documents are required to turn in (ie W2s)?
Annual tax filings
Anonymous
11/04/2019 20:39
Subject: Maximum HHI for obtaining financial aid?
If you do get awarded FA what documents are required to turn in (ie W2s)?
Anonymous
11/04/2019 20:34
Subject: Maximum HHI for obtaining financial aid?
Depends 100% on the school. They have incredibly different finances.
Anonymous
11/04/2019 17:56
Subject: Re:Maximum HHI for obtaining financial aid?
Anonymous wrote:I think it depends heavily on the endowment for the school and the financial aid applicant pool. That said, it will probably be an uphill battle given what you say about your finances. We thought we'd qualify for FA and we were essentially laughed at - the amount they said we could pay, according to the FA calculators was absurd unless we sold our house and spent all of our assets. One of the issues is that your house, your 401K, your savings, all come into play when it comes to estimating what you can afford. It's all considered accessible income. So if you have little debt and the HHI you described, I'd find it hard to imagine you would get FA. But yes, do apply! That was our approach. If they want you, but they don't want to give you FA, they will just say that.
401k is disclosed however not factored because you are heavily taxed/penalized for withdrawals before a certain age. 529 is fair game
Anonymous
11/04/2019 09:27
Subject: Re:Maximum HHI for obtaining financial aid?
I think it depends heavily on the endowment for the school and the financial aid applicant pool. That said, it will probably be an uphill battle given what you say about your finances. We thought we'd qualify for FA and we were essentially laughed at - the amount they said we could pay, according to the FA calculators was absurd unless we sold our house and spent all of our assets. One of the issues is that your house, your 401K, your savings, all come into play when it comes to estimating what you can afford. It's all considered accessible income. So if you have little debt and the HHI you described, I'd find it hard to imagine you would get FA. But yes, do apply! That was our approach. If they want you, but they don't want to give you FA, they will just say that.
Anonymous
11/04/2019 08:55
Subject: Re:Maximum HHI for obtaining financial aid?
Anonymous wrote:24% of families receiving FA at Maret have HHI > $225k.
Wow. We did not even consider applying for it. Granted, we are looking at $15-25k schools--not $40k+ and only for HS.
Anonymous
11/04/2019 05:51
Subject: Maximum HHI for obtaining financial aid?
Say you qualify for FA, what documentation is required.
Anonymous
11/04/2019 05:48
Subject: Maximum HHI for obtaining financial aid?
I thought the rule was under 175k, no FA could be awarded.
Anonymous
11/04/2019 00:19
Subject: Re:Maximum HHI for obtaining financial aid?
Anonymous wrote:24% of families receiving FA at Maret have HHI > $225k.
I would suspect that those above $225 have multiple kids in private school.
Anonymous
11/03/2019 23:59
Subject: Re:Maximum HHI for obtaining financial aid?
24% of families receiving FA at Maret have HHI > $225k.