Families Earning $300K+ Get Financial Aid. And It's Happening More and More. - Polidicks

[quote=CNNMoney] Private schools are getting flooded with [URL="http://money.cnn.com/2012/03/27/pf/college/financial-aid.moneymag/index.htm?iid=EL"]financial aid applications[/URL], and a growing number of the parents seeking help are earning $150,000 or more a year. [TABLE="width: 900"] [TR] [TD][IMG]http://i2.cdn.turner.com/money/2012/05/09/pf/private-school-financial-aid/private-school.ju.top.jpg[/IMG][/TD] [TD]Overall, the average cost of tuition at private schools across all grades is nearly $22,000 a year, up 4% from a year ago and 26% higher than it was in the 2006-07 academic year, according to the National Association of Independent Schools. And more students than ever are asking for need-based financial aid. In the 2010-11 academic year, about 20% of families that filed for financial aid for private school earned $150,000 or more a year, up from just 6% in 2002-03. Many parents have been hit hard by the recession and [URL="http://money.cnn.com/2012/04/24/real_estate/home-prices/index.htm?iid=EL"]declining home values[/URL] and can no longer afford an expensive private school education. But it's one expense they aren't willing to give up. "There's this pressure to give your kids what you think is the best," said Robin Aronow, a school admissions consultant in New York. At Tabor Academy, a private high school in Marion, Mass., there's been a spike in families with household incomes as high as $350,000 applying for assistance. "Five years ago, they were full-pay families and they're not anymore. They just don't have the liquid assets," said Eric Long, Tabor's director of financial aid. Annual tuition at Tabor is just shy of $50,000 for boarding students and $35,400 for day students -- and it keeps on rising.[/TD] [/TR] [/TABLE] [TABLE="width: 900"] [TR] [TD]"We're going up 5% a year and they're making 3% more each year, the difference keeps compounding," said Long. The same holds true at Sewickley Academy in Pittsburgh, where tuition averages about $20,000 a year for grades kindergarten through 12. As a result of the recession, "we saw some families take a serious hit to their income and we were committed to keeping those families here at school," said Brendan Schneider, Sewickley's director of admission and financial aid. As a growing number of wealthy families seek financial assistance, there is less aid available for lower-income families who most need the aid. "A greater part of the school's community is demonstrating need and that makes us less able to afford a very significant financial aid package for low-income students," said Todd Ormiston, assistant head of enrollment management at Gould Academy in Maine. "Every year we see families with more means outpacing the families with less means," said Chantal Stevens, national director of programs at A Better Chance, a nonprofit that helps minority children get access to private school. "It's not a pretty trend." Unlike the protocol for colleges, need-based awards are almost entirely up to the school, said Victoria Goldman, author of Manhattan Guide to Private Schools, and "private schools can do whatever they want. "Depending on the school's endowment and financial aid budgets, awards can vary wildly from school to school, explained Brian Fisher, partner at AdmissionsQuest, a private school consulting firm. And while household income, net worth and disposable income still play a role in determining aid eligibility, schools are increasingly looking at a family's ability to pay a portion of the cost themselves. "The more you can pay, the better your chances are of being funded," Long said. "We're still looking for socio-economic diversity but our budget can absorb far fewer of those families that can only pay $500 to $1,000 a year." Those making between $150,000 and $350,000 a year who can pay at least 50% of the bill have become ideal candidates for aid. At Gould, tuition is close to $50,000 a year and about 40% of the student body receives financial aid. But who gets what is something few people talk about -- particularly those in the highest income bracket. "They don't want to advertise that they are applying for financial aid. Most are very discrete and they give up this kind of information very reluctantly," said Fisher. "It's almost like they are whispering into the phone," said Long of the more affluent families from towns like Newton, Mass. and Greenwich, Conn. who request aid to attend Tabor Academy. But, "I don't know how anyone can be embarrassed to ask for help when high school costs over $200,000." [URL="http://money.cnn.com/2012/05/09/pf/private-school-financial-aid/index.htm?source=cnn_bin"]SOURCE[/URL][/TD] [/TR] [/TABLE] [/quote] One one hand, I hate it when people that are employees making over 100K say they can't afford things. Sell the fucking BMW, sell the house with 20 rooms you never use and downsize. On the other hand, It's understandable when people that are employ[I]ers [/I]need a bit of help. My father makes six figures in the poorest part of the United States. Here, 50K is considered a decent income. The problem is, he's a small business owner. After he gets done paying for materials, payroll, fuel, and after he gets done being eaten alive by the IRS (No, dad, no!) he may have an effective yearly income of like 20-30K. He's gotten to the point to where he can't really get out of doing what he does even though he's hemorrhaging money because nothing else will pay like what he does now. So what I'm saying is just don't judge a book by a cover. Someone can make a gross 100K in a year, but only net 30K or so. However, if you're not an employer, you have [I][B]NO[/B][/I] god damn excuse.

FUCK THEM. I [I]actually[/I] need this stuff, and THEY get it. Fuck this system. [editline]9th May 2012[/editline] [quote]Those making between $150,000 and $350,000 a year who can pay at least 50% of the bill have become ideal candidates for aid.[/quote] This killed me. They dont deserve it.

While I don't like Private Schooling, this is fucking dispicable.

I survive on $40 a week why isnt anyone kissing my ass

If these parents can no longer afford private school then their kids shouldn't be in it anymore. Asking for aid to keep them in a school which really might not have much higher quality standards than public education seems rather pointless IMO.

Man, ~$32k per year is considered too much for any financial aid where I live, and this is in public school.

[QUOTE=Irkalla;35896635][B]One one hand, I hate it when people that are employees making over 100K say they can't afford things. Sell the fucking BMW, sell the house with 20 rooms you never use and downsize.[/B] [/QUOTE] I come from one of those families, and I have to disagree with the idea that we're either pampered or disillusioned with the needs of others. I guess it's just as anecdotal as your statement, but we look to live within our means and not spend frivolously, along with the rest of the people in our neighborhood.

If you go to private school / university you should be automatically disqualified for financial aid offered by the government. Plain and simple, just my point of view.

From experience, private school really isn't that much different from public school. Just a bit shinier and a couple extra things.

[QUOTE=W00tbeer1;35896733]If you go to private school / university you should be automatically disqualified for financial aid offered by the government. Plain and simple, just my point of view.[/QUOTE] Reasonable.

[QUOTE=Jaks0;35896711]I survive on $40 a week why isnt anyone kissing my ass[/QUOTE] [media][URL]http://www.youtube.com/watch?v=95SYdjRVCR0[/URL][/media] [B]THATS SOME CHEAP FUCKING INTERNET![/B]

[QUOTE=Canuhearme?;35896732]I come from one of those families, and I have to disagree with the idea that we're either pampered or disillusioned with the needs of others. I guess it's just as anecdotal as your statement, but we look to live within our means and not spend frivolously, along with the rest of the people in our neighborhood.[/QUOTE] My dad makes 112k a year and my mom gets a good amount of social security because she's disabled With 2 kids in college and 3 cars to gas up/insure/repair, and a whole bunch of other shit it's hard for us to make ends meet and still budget for emergencies. So when cars break down for example, it's devastating

It's good to see aid finally going to those who deserve it. I mean, otherwise they might have to go to a *[i]shudder[/i]* [b][i]public school.[/i][/b]

[QUOTE=Protocol7;35896766]My dad makes 112k a year and my mom gets a good amount of social security because she's disabled With 2 kids in college and 3 cars to gas up/insure/repair, and a whole bunch of other shit it's hard for us to make ends meet and still budget for emergencies. So when cars break down for example, it's devastating[/QUOTE] That's a good bit of money. Is your father a small business owner? I figure if he just goes to work and doesn't pay for materials or anything then he has to be just sticking the money up his own ass or something to not live comfortably.

[QUOTE=Protocol7;35896766]My dad makes 112k a year and my mom gets a good amount of social security because she's disabled With 2 kids in college and 3 cars to gas up/insure/repair, and a whole bunch of other shit it's hard for us to make ends meet and still budget for emergencies. So when cars break down for example, it's devastating[/QUOTE] Not so sound like a dick here but, that sounds pretty easy. My situation is as follows: parents combined income is less then 70k a year, has to put 3 kids through college, and has to insure 5 cars. We are literally living paycheck to paycheck. However, we dont complain about it we just know that this is our life, and we have to deal with it.

I make less then 22k a year and can't get any type of financial aid for school. System is broken. I was told I make to much....

[QUOTE=areolop;35896812]Not so sound like a dick here but, that sounds pretty easy. My situation is as follows: parents combined income is less then 70k a year, has to put 3 kids through college, and has to insure 5 cars. We are literally living paycheck to paycheck. However, we dont complain about it we just know that this is our life, and we have to deal with it.[/QUOTE] Have 20 kids, wonder why we're broke. But hey, look, I'm done grilling you guys. I can understand how 5 cars gets expensive really quick. Hopefully once you guys fall out of the nest it will be a little better for them, though. I wish my father could have put me through college. I also wish I never had to go through the public education system. I was a brilliant child. My family tells me I could read at 18 months. As a toddler, when most children were entertaining themselves with their own shit and stupid TV, I was trying to figure out how electricity works, and taking things apart and assembling them. Throughout elementary school I was driven. Hell, in 4th grade I had a 102 average. It's pretty funny how I was so brilliant with facts, yet when it came to socializing I had to have been (and still am) the most retarded at it. Then I proceeded to go through a public school system in which 65% is a passing grade, has a 7 hour schedule, and is constantly downsizing. Instead of holding people back to properly educate them, they just lowered the bar and lowered it and lowered it. School got to where it was rehashing the same old shit again, and eventually school stopped stimulating my gifted mind. So, the public school system basically turned me off. I got to where I didn't care why or how. I just learned what and that was enough. Not that they would ever teach me the finer points of anything, anyway. Private schooling needs to be merit based. The schools should strive to fill their halls with gifted students like I once was. Before you ask why I didn't excel... Year after year we essentially rehashed the same shit and learned very little. Eventually I just got to where I didn't care anymore.

- Snip -

It's just one of those weird aspects of capitalism: You have kids going to public school in the ghetto- people ask why they can't work hard, apply themselves, and fix their own goddamn lives and stop asking for public assistance. Then you can have kids who live in $200k homes, going to PRIVATE school, and their parents are saying we need to get some financial aid.

[QUOTE=Irkalla;35896635]One one hand, I hate it when people that are employees making over 100K say they can't afford things. Sell the fucking BMW, sell the house with 20 rooms you never use and downsize. On the other hand, It's understandable when people that are employ[I]ers [/I]need a bit of help. My father makes six figures in the poorest part of the United States. Here, 50K is considered a decent income. The problem is, he's a small business owner. After he gets done paying for materials, payroll, fuel, and after he gets done being eaten alive by the IRS (No, dad, no!) he may have an effective yearly income of like 20-30K. He's gotten to the point to where he can't really get out of doing what he does even though he's hemorrhaging money because nothing else will pay like what he does now. So what I'm saying is just don't judge a book by a cover. Someone can make a gross 100K in a year, but only net 30K or so. However, if you're not an employer, you have [I][B]NO[/B][/I] god damn excuse.[/QUOTE] Or if your employment makes you live in an expensive area. A 100k familial income is considered lower-middle class to middle class around where I live (Ann Arbor, MI) due to the fact that the area, despite being well-developed, has one of the highest living costs (if not the highest) in the region] I personally have not too much basis to complain since my parent has given me the opportunity to borrow money from them as long as I eventually pay them back during their retirement but where you live is a big factor in how much usable income you have as well

Unfortunately for me, my family doesn't make nearly enough money to even consider paying for my college, but they aren't poor enough for the government to pay for it. Such is life.

[QUOTE=I_Forgot;35897230]Unfortunately for me, my family doesn't make nearly enough money to even consider paying for my college, but they aren't poor enough for the government to pay for it. Such is life.[/QUOTE] Just need to... slightly make yourself more "poor" when you fill out the FAFSA

[QUOTE=areolop;35897245]Just need to... slightly make yourself more "poor" when you fill out the FAFSA[/QUOTE] Or you know, just file as independant Seriously, if you're not getting college money or support from your parents theres no reason why you need to file as depedant (which means their income is considered YOUR income). If you are independant, then it is YOUR income that is taken into account on the FAFSA, not your parents. AKA you'll probably get a large chunk of your school paid for so you have to take out smaller loans, or you will be able to pay for yourself. Of course they could also do what I do. I file as dependant, because my dad saves about $3k a year in taxes if I do (and in a way, I am dependant on him - he helps pay for my car insurance and has always been there for us when we get in bad situations... even though we can generally handle ourselves). Then my dad makes the difference up to me, and gives me what I would have gotten tax return wise if I was independent. I'd get more from FAFSA if I was, but eh... my dad helps me out a lot, and I can easily afford my education with what I get from FAFSA already. So its the least I can do for him.

[QUOTE=KorJax;35897329]Or you know, just file as independant Seriously, if you're not getting college money or support from your parents theres no reason why you need to file as depedant (which means their income is considered YOUR income). If you are independant, then it is YOUR income that is taken into account on the FAFSA, not your parents. AKA you'll probably get a large chunk of your school paid for so you have to take out smaller loans, or you will be able to pay for yourself. Of course they could also do what I do. I file as dependant, because my dad saves about $3k a year in taxes if I do (and in a way, I am dependant on him - he helps pay for my car insurance and has always been there for us when we get in bad situations... even though we can generally handle ourselves). Then my dad makes the difference up to me, and gives me what I would have gotten tax return wise if I was independent. I'd get more from FAFSA if I was, but eh... my dad helps me out a lot, and I can easily afford my education with what I get from FAFSA already. So its the least I can do for him.[/QUOTE] Oh shit! That means that I can file that I make Less then 5k a year, working at subway, and still get some great FSA?

[QUOTE=W00tbeer1;35896733]If you go to private school / university you should be automatically disqualified for financial aid offered by the government. Plain and simple, just my point of view.[/QUOTE] Holy shit what is wrong with you... a tonne of people come from disadvantaged families and their only chance to go to uni is financial aid. A few of my friends are in that situation, they came from a really poor family and thanks to government aid for schooling they're now successful.

I sympathize with the kids in this situation. The article mentions that these families often lack liquid assets. I'm sure a good deal of these kids (not all though) think in the same ballpark as some of us. They're probably wondering why mommy and daddy won't sell the vacation home they don't use, but we all know parents (rich conservative ones at that), can often be stubborn. If a kid wants to go to college, and their parents don't have any actual money to help, I can somewhat understand this. Many wealthy families have actually gone into debt and do lack money.... It's not the kids fault the parents are stupid. Although, I agree, it is hard to sympathize in these situations, and not every situation is how I outlined, some are just greedy assholes. I'm going to play devil's advocate and say I can understand how this situation can occur, and I'm sure that it is more likely than we suspect in economic times like these.

That's the issue. People with lots of money aren't necessarily clever spenders. And that doesn't excuse them, but I can't fault the need for private schooling - The public education system in the USA is among the worst in the First World, from what I understand.

private schools are cesspools of sheltering and ignorance shoving a bunch of rich white kids with other rich white kids is a recipe for a bunch of rich white self-entitled racist assholes and it shows among their students I say this living right in the middle of an area with half a dozen private schools (I go to a public school in another part of town)

[QUOTE=Elspin;35897578]Holy shit what is wrong with you... a tonne of people come from disadvantaged families and their only chance to go to uni is financial aid. A few of my friends are in that situation, they came from a really poor family and thanks to government aid for schooling they're now successful.[/QUOTE]I thought he was referring to universities akin to private schooling, but realised that essentially all unis in the US are private in that you have to pay out the arse to get in :/

Fucking bullshit, My father makes almost 100k and my mother is jobless. My father just gives us enough to pay rent and buy food and barely pay bills for the month nothing more. If it wasn't for my grandparents i wouldn't have the money for college at all. Finacial aid declined me for making 30k with my job and fathers income