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07.08.08, 19:37 PM Preschool/Kids
20 replies
Do private schools look at income or assets for financial aid? My DH and I have a combined income of about 125K but last year inherited almost 1 mil. from my grandfather. So yes, we could afford to pay the 60K (two kids) but it feels like we should save it for college or living expenses. [ Reply | Watch | Flag ]
Preschool/Kids 07.08.08, 07:37 PM Flag
 

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No financial aid for you. Yes - they look at assets [ Reply | More
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General Topics 07.08.08, 07:38 PM Flag
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Financial aid does not provide for people who have money but would rather not spend it right now. [ Reply | More
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General Topics 07.08.08, 07:39 PM Flag
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they look at everything [ Reply | More
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General Topics 07.08.08, 07:39 PM Flag
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Oh no. not you again. cannot believe you are looking for FA. disgusting, frankly. [ Reply | More
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General Topics 07.08.08, 07:40 PM Flag
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ITA [ Reply | More
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General Topics 07.08.08, 07:43 PM Flag
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Does she keep posting this, hoping for a different answer? [ Reply | More
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General Topics 07.08.08, 07:43 PM Flag
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read a very long thread that was very much the same question not too long ago. they seem to be really hoping for this. [ Reply | More
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General Topics 07.08.08, 07:46 PM Flag
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How selfish can one person be? [ Reply | More
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General Topics 07.08.08, 07:46 PM Flag
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I have about $10mm in assets, but would rather save it for college and retirement. Do you think privates take into account continuing my lifetyle after I retire next year? would really love to get at least some FA. anyone know? [ Reply | More
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General Topics 07.08.08, 07:43 PM Flag
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Yes. You will need to provide a detailed budget, explaining exactly how much you need each year for vacations, interior decorating, household staff, etc. This puts you at a huge advantage over the poor families applying, because they don't know how to pad a budget. GL! [ Reply | More
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General Topics 07.08.08, 07:45 PM Flag
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lol! thanks! [ Reply | More
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General Topics 07.08.08, 07:54 PM Flag
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You have a million dollars and want to take FA that could otherwise go to a child from a truly poor family? You are very selfish. [ Reply | More
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General Topics 07.08.08, 07:42 PM Flag
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They look at both. You should be ashamed of yourself for even considering appying for FA with $1 million in the bank. [ Reply | More
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General Topics 07.08.08, 07:42 PM Flag
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You sound like a greedy jerk. [ Reply | More
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General Topics 07.08.08, 07:42 PM Flag
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you know what? OP will apply for it and likely get it. People like OP often get what they want (and what they shouldn't). [ Reply | More
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General Topics 07.08.08, 08:12 PM Flag
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The schools with which I am familiar do a good job of allocating their financial aid. (np) [ Reply | More
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General Topics 07.08.08, 08:55 PM Flag
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You can hide it offshore we did [ Reply | More
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General Topics 07.09.08, 05:11 AM Flag
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oh yeah -- no problem. just keep the $$ on the dl! gl! [ Reply | More
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General Topics 07.09.08, 05:29 AM Flag
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Buy a home with it bec they don't expect you to move out of your home to afford tuition. They take 3 or some % of assets and apply towards your HHI. Greater % if asset is higher. If they took 5% of $1MM, or $50k, towards your HHI, they will see that as your HHI is really $175k. With 2 kids, you could still qualify for FA, though I'd think FA would be at most 40-50% at a very generous $$$ schools. Many schools have no money to give. If your dc is outstanding and they want your dc/your family, they will make it happen. [ Reply | More
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General Topics 07.09.08, 05:36 AM Flag
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they look at both. they expect you to contribute a certain percentage of your assets to tuition. It is not likely you will qualify for aid. Invest the million and use the interest to pay tuition. Then you will still have the principal to fund retirement. [ Reply | More
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General Topics 07.09.08, 05:37 AM Flag
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