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07.11.08, 17:41 PM General Topics
36 replies
Any chance of financial aid at private schools? one-income family; $225K annual salary. Rent, don't own. No other assets except college savings and retirement accounts. Zip. Three kids. White parents, children are adopted from Ethiopia. (Some debt stemming from the last two adoptions, actually.) Preschools or ongoing... [ Reply | Watch | Flag ]
General Topics 07.11.08, 05:41 PM Flag
 

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There is plebty of financial aid to be had at private schools signed mother of three dc whose dh was Board Pres at our private school [ Reply | More
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General Topics 07.11.08, 05:42 PM Flag
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I doubt it we got no financial aid and we make $100,000, ironically a friend who is about $70,000 in debt, hasn't paid rent in about 5 months and hubby is "self employed" got a free ride at one of teh best NYC schools so I guess if you pay your bills and rent but don't quite make enough to afford private school you SOL [ Reply | More
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General Topics 07.11.08, 05:43 PM Flag
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$100k should get you 90% of aid. You just applied to wrong schools or they didn't want to accept your dc, so no money was given. [ Reply | More
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General Topics 07.11.08, 05:45 PM Flag
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I guess wrong schools but just out of curriosity do have to reapply every year for financial aid, so one yer you could get a full ride and another year have to pay like $15,000, do people ever have to leave a school because they are not given enough fiancial aid? [ Reply | More
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General Topics 07.11.08, 05:55 PM Flag
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No, schools know they're committing to 13 years. Unless your financial situation changes significantly, FA won't change. If you get $10k in raise, they know you pay tax first, then some living expenses. Your FA amount might be reduced by $500 to $1000. [ Reply | More
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General Topics 07.11.08, 06:06 PM Flag
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interesting... [ Reply | More
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General Topics 07.11.08, 06:07 PM Flag
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np--Yes, you apply annually for aid. School aid generally matches the previous year if there are no changes in a family's situation. Our aid has increased to match increases in tuition. Financial aid is not awarded on the basis of diversity. [ Reply | More
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General Topics 07.11.08, 06:09 PM Flag
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Right, if a sib is born, that will affect FA, too. (more FA for more kids). If they raise the tuition by $3k, you'll be expected to pay additional $ but they will apply the same % of discount. [ Reply | More
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General Topics 07.11.08, 06:13 PM Flag
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yep. have more kids, and you might get an even bigger handout! yeeha! [ Reply | More
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General Topics 07.11.08, 09:19 PM Flag
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BS. Plenty of schools w/dcs that are very welcome and families well liked but they don't get FA when they apply because most schools don't believe families earning 200k need FA if there's just one kid. [ Reply | More
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General Topics 07.12.08, 02:33 PM Flag
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They applied to wrong schools or they have situations you don't know about. I agree that $200k should be able to afford 1 tuition, BUT that is my opinion and not the school's opinion. I agree most schools - it'll be tough but OP has 3 kids. If the kid is smart and they really want them, they will find a way. [ Reply | More
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General Topics 07.13.08, 09:08 AM Flag
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Yes, FA at $$$$ schools cap at $250k. You got 3 kids. Plus, they are adopted from Ethiopia to boot. Not sure how much you can qualify, but definitely, you could apply for it. [ Reply | More
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General Topics 07.11.08, 05:44 PM Flag
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Actually, it is 250K for one kid, for three it is a lot higher & her kids have diversity that the schools want. She definitely could get a lot of aid, especially if this is a dual income. [ Reply | More
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General Topics 07.12.08, 04:46 AM Flag
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^^^^ I didn't see that it was a one-income family. You'll still get aid, but not nearly as much if that was two incomes. [ Reply | More
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General Topics 07.12.08, 04:52 AM Flag
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OP: So how does it work? You apply for admission and FA concurrently? Does one affect the other in terms of admissions? It would never have occurred to me to look into this with DH's salary, but a df pointed out my kids bring some diversity to the table. (It also hadn't occurred to me to push their race, either...) [ Reply | More
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General Topics 07.11.08, 05:46 PM Flag
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You have to indicate on the application that you want FA. You can't apply after dc is admitted. I don't think it'll affect admission no matter what these people say here. Because vast majority of families who apply to privates do not ask for FA. Those who do ask are a minority (small one) and matches % of dc's accepted in K. There may be several factors. But if dc is very bright and no issues, normal parents, then FA won't work against you. You should go through Early Steps, so you can be a bona fide diversity family - schools will make a special note. Of course, during playdate, they can visually see the race of the child. [ Reply | More
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General Topics 07.11.08, 05:53 PM Flag
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Applying for aid will definitely limit your child's chances of acceptance. [ Reply | More
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General Topics 07.11.08, 06:26 PM Flag
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Keep believing that. [ Reply | More
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General Topics 07.11.08, 06:41 PM Flag
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My child receives financial aid (and has for 8 years)and I am familiar with the process. I think you are posting incorrect information about financial aid on UB. There are a few needs-blind boarding schools--St. Paul's and Exeter are examples-- but there is no school in New York City that can accept a child without taking into consideration the family's financial needs. [ Reply | More
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General Topics 07.11.08, 06:59 PM Flag
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That is absolutely true, but op should still apply & make sure to do so broadly. [ Reply | More
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General Topics 07.12.08, 04:50 AM Flag
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so you are involved in one school and have only your view of things. How would you know what really is going on? [ Reply | More
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General Topics 07.12.08, 11:07 AM Flag
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That is true & Early Steps will tell you that. We were told point blank that it did. We still got in, but had fewer choices than if we had not asked for aid. [ Reply | More
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General Topics 07.12.08, 04:48 AM Flag
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If you need FA, don't bother applying to schools that are not very generous. Apply to schools with lots of money. Find out what % of kids get FA and what is average/median amount. Some schools give little like 10% to many families while some give 80% to few families. [ Reply | More
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General Topics 07.11.08, 06:08 PM Flag
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how do you find out this information? [ Reply | More
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General Topics 07.11.08, 06:26 PM Flag
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at Grace, about 20% of students receive aid--average grant is over 19K. [ Reply | More
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General Topics 07.11.08, 06:31 PM Flag
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Some info is in the Goldman book, some in school's website/brochures. Helps to know someone inside. Ask here also with specific school names. [ Reply | More
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General Topics 07.11.08, 06:38 PM Flag
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What if you're in a school but your financial situation changes after 2 or 3 years there and you need aid to stay at the school? And what about applying into later grades? Is it possible at all needing FA? [ Reply | More
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General Topics 07.11.08, 06:47 PM Flag
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Its actually easier to ask for FA once you are in the school a few years, assuming you & your dc have made a good impression on the school & are not PITAs. Any good school thinks of its students as a committed community & they will invest in your dcs as a known entity that they want to keep. It is also easier to get FA in middle or high school since the k-12 schools don't like committing to 12 yrs of FA right off the bat. [ Reply | More
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General Topics 07.11.08, 10:35 PM Flag
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I have found out that if you make a good impression, and they want you, they will work with you.(I'm not talking about your kids either.) I got my dd into a program for free (make less than 100K), while a friend in a similar financial bracket did not. [ Reply | More
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General Topics 07.11.08, 06:50 PM Flag
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Are you talking about an elementary school? I think all schools require some contribution from families at that level. [ Reply | More
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General Topics 07.11.08, 07:01 PM Flag
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Probably not. Unless you have very young children, schools will either expect both parents to work or add a projected income for the non-working parent to the household total. [ Reply | More
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General Topics 07.11.08, 10:23 PM Flag
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OP: This seems strange to me. What is very young? I have a 3 and 5 year old, also a 9 year old. I've stayed at home with them and will continue to do so in large part because they are adopted (2 at an older than baby age) and feel they really NEED a mommy more than the family needs $$ mommy can make. [ Reply | More
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General Topics 07.12.08, 05:46 AM Flag
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I think your family income is way too high for financial aid at the preschool level. I also think you've made choices (stay-at-home, number of children adopted) that make it harder for your family to receive aid from ongoing schools. Your family sounds interesting, and you can certainly apply for financial aid, but I would have a good backup. [ Reply | More
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General Topics 07.12.08, 06:16 AM Flag
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When the three year old hits five they will add an income for you if you still choose to SAH that is the way it is. You will still get aid at that income, even if it is only one income, because you have three children it may be substantial. [ Reply | More
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General Topics 07.12.08, 06:50 AM Flag
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Not OP, putting aside all the other factors, why would the choice of having adopted 3 dcs from Ethiopia cut against her family in the FA application? I don't understand. [ Reply | More
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General Topics 07.12.08, 08:16 AM Flag
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FA is tricky. There is not formula really since all schools are different. I think you lower your chances of getting in significantly if you apply. Even if you don't apply, the schools can take a gander at who may decide to apply in a year or two after admittance and will not take the chance on you. All this being said, we did manage to luck out and get FA at a school that was not where we thought we would end up. But, still we are happy since we did not get any g&t spots. [ Reply | More
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General Topics 07.13.08, 05:33 PM Flag
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