Anonymous
02/17/2016 11:31
Subject: How much do you make and how much FA do you receive?
Anonymous wrote:Anonymous wrote:We are a family of four and make about $200,000 but we also support my aging mother. Any chance of any FA?
As others have commented, it depends on your total financial picture. We are a family of 4 with HHI of 220k and we are in our second year of receiving $10K in aid. Both of us have student loans in addition to helping my mother out each month with her rent.
In other words, school parents paying full freight are subsidizing your mother. Fascinating.
Anonymous
02/17/2016 11:07
Subject: How much do you make and how much FA do you receive?
Anonymous wrote:We are a family of four and make about $200,000 but we also support my aging mother. Any chance of any FA?
As others have commented, it depends on your total financial picture. We are a family of 4 with HHI of 220k and we are in our second year of receiving $10K in aid. Both of us have student loans in addition to helping my mother out each month with her rent.
Anonymous
02/17/2016 10:02
Subject: Re:How much do you make and how much FA do you receive?
It is my understanding that FACT is far more accurate in their assessments than SSS. So it may largely depend on which system your target school uses. And for those using SSS, you have to hope that the schools recognize SSS's inaccuracy.
Anonymous
02/17/2016 07:32
Subject: How much do you make and how much FA do you receive?
Anonymous wrote:Anonymous wrote:So if we make a total hhi of $130. What can we expect (for lower elementary)
No one can tell you this. Everyone's financial picture is different. Some people with HHI of $130 won't get anything and others will. It depends on the whole picture and not just HHI.
And it varies greatly by school.
Anonymous
02/16/2016 23:05
Subject: How much do you make and how much FA do you receive?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Folks, it's not nearly as hard as you think it is to get FA.
Get up off the couch and apply.
It is hard if you need too much.
Only those with a net worth of upwards of 10 - 15 million pay full tuition.
Absolutely not true. We have a net worth of half of that and have been paying full freight for two kids for years.
As you should.
5 million net work...well hell yeah you should be paying full freight. In fact, I hope you are writing a big check to support the schools annual fund too! Share some of that wealth.
Absolutely on full freight but not really on the annual fund!
Haha
Anonymous
02/16/2016 21:59
Subject: How much do you make and how much FA do you receive?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Folks, it's not nearly as hard as you think it is to get FA.
Get up off the couch and apply.
It is hard if you need too much.
Only those with a net worth of upwards of 10 - 15 million pay full tuition.
Absolutely not true. We have a net worth of half of that and have been paying full freight for two kids for years.
As you should.
5 million net work...well hell yeah you should be paying full freight. In fact, I hope you are writing a big check to support the schools annual fund too! Share some of that wealth.
Absolutely on full freight but not really on the annual fund!
Anonymous
02/16/2016 21:56
Subject: How much do you make and how much FA do you receive?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Folks, it's not nearly as hard as you think it is to get FA.
Get up off the couch and apply.
It is hard if you need too much.
Only those with a net worth of upwards of 10 - 15 million pay full tuition.
Absolutely not true. We have a net worth of half of that and have been paying full freight for two kids for years.
As you should.
5 million net work...well hell yeah you should be paying full freight. In fact, I hope you are writing a big check to support the schools annual fund too! Share some of that wealth.
Anonymous
02/16/2016 21:48
Subject: How much do you make and how much FA do you receive?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Folks, it's not nearly as hard as you think it is to get FA.
Get up off the couch and apply.
It is hard if you need too much.
Only those with a net worth of upwards of 10 - 15 million pay full tuition.
Absolutely not true. We have a net worth of half of that and have been paying full freight for two kids for years.
As you should.
Anonymous
02/16/2016 21:43
Subject: How much do you make and how much FA do you receive?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:^^people are embarrassed? Really?
I would not have thought to apply simply because I thought FA was intended to help families who don't make a lot of money. (Not DCUM version of low HHI).
What exactly is your definition of "not a lot of money?" Perhaps your belief that you make a lot of money is a tad over inflated.
No. I honestly (and naively it seems) thought it was for families who qualify for free lunch or other assistance to live. This thread is helpful as I assumed private schools were out of our reach, it sounds like that might not be the case. I appreciate the examples posters are providing, it is very helpful!!
I am a step above those families you describe and I got nada. I needed appr. 75% FA and I guess the schools just didn't have it to give me for 13 years.
Oh I missed when you said "my area." I thought you were in the DC area.
Was the school known for having FA? I am surprised you did not receive anything, especially with other commenting they are receiving aid making over $250k. Ugh.
This school had the largest endowment of any private school where we live. I can sort of understand where they are coming from. A 4 year old is an unknown. 13 years of 75% tuition is a lot. That is why we have applied again for MS. At least she has a good track record behind her now.
Yes strategically you made a bad call. You should have went after some of the better endowed K-8 schools.
They only K-8 schools in my area are Catholic schools that cost no more than $7500 per year. That is where my DD has been since K. I can afford that price.
Anonymous
02/16/2016 21:42
Subject: How much do you make and how much FA do you receive?
HHI $100k, receive 60% FA.
Anonymous
02/16/2016 21:42
Subject: How much do you make and how much FA do you receive?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Folks, it's not nearly as hard as you think it is to get FA.
Get up off the couch and apply.
It is hard if you need too much.
Only those with a net worth of upwards of 10 - 15 million pay full tuition.
Absolutely not true. We have a net worth of half of that and have been paying full freight for two kids for years.
Anonymous
02/16/2016 21:37
Subject: How much do you make and how much FA do you receive?
Further info on the "whole picture":
The financial aid forms ask detailed questions, such as the types of cars you drive and their estimated value (beat up old Honda or a Tesla?); the vacations you took in the previous year and how much you spent on said vacations; if you own any property beside your primary residence and if you have recreational vehicles like a boat.
You don't have to list the amount contributed to a 529, but you do need to list how much is in your retirement fund, back accounts and any stocks, mutual funds, etc.
The financial aid forms ask detailed questions, such as the types of cars you drive and their estimated value (beat up old Honda or a Tesla?); the vacations you took in the previous year and how much you spent on said vacations; if you own any property beside your primary residence and if you have recreational vehicles like a boat.
You don't have to list the amount contributed to a 529, but you do need to list how much is in your retirement fund, back accounts and any stocks, mutual funds, etc.
Anonymous
02/16/2016 21:32
Subject: How much do you make and how much FA do you receive?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:^^people are embarrassed? Really?
I would not have thought to apply simply because I thought FA was intended to help families who don't make a lot of money. (Not DCUM version of low HHI).
What exactly is your definition of "not a lot of money?" Perhaps your belief that you make a lot of money is a tad over inflated.
No. I honestly (and naively it seems) thought it was for families who qualify for free lunch or other assistance to live. This thread is helpful as I assumed private schools were out of our reach, it sounds like that might not be the case. I appreciate the examples posters are providing, it is very helpful!!
I am a step above those families you describe and I got nada. I needed appr. 75% FA and I guess the schools just didn't have it to give me for 13 years.
Was the school known for having FA? I am surprised you did not receive anything, especially with other commenting they are receiving aid making over $250k. Ugh.
This school had the largest endowment of any private school where we live. I can sort of understand where they are coming from. A 4 year old is an unknown. 13 years of 75% tuition is a lot. That is why we have applied again for MS. At least she has a good track record behind her now.
Yes strategically you made a bad call. You should have went after some of the better endowed K-8 schools.
They only K-8 schools in my area are Catholic schools that cost no more than $7500 per year. That is where my DD has been since K. I can afford that price.
Anonymous
02/16/2016 21:24
Subject: How much do you make and how much FA do you receive?
Anonymous wrote:So if we make a total hhi of $130. What can we expect (for lower elementary)
No one can tell you this. Everyone's financial picture is different. Some people with HHI of $130 won't get anything and others will. It depends on the whole picture and not just HHI.
Anonymous
02/16/2016 21:22
Subject: How much do you make and how much FA do you receive?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:^^people are embarrassed? Really?
I would not have thought to apply simply because I thought FA was intended to help families who don't make a lot of money. (Not DCUM version of low HHI).
What exactly is your definition of "not a lot of money?" Perhaps your belief that you make a lot of money is a tad over inflated.
No. I honestly (and naively it seems) thought it was for families who qualify for free lunch or other assistance to live. This thread is helpful as I assumed private schools were out of our reach, it sounds like that might not be the case. I appreciate the examples posters are providing, it is very helpful!!
I am a step above those families you describe and I got nada. I needed appr. 75% FA and I guess the schools just didn't have it to give me for 13 years.
Was the school known for having FA? I am surprised you did not receive anything, especially with other commenting they are receiving aid making over $250k. Ugh.
This school had the largest endowment of any private school where we live. I can sort of understand where they are coming from. A 4 year old is an unknown. 13 years of 75% tuition is a lot. That is why we have applied again for MS. At least she has a good track record behind her now.
Yes strategically you made a bad call. You should have went after some of the better endowed K-8 schools.