What is the income cut off for finacial aid in private school?
I want to go to a private high school, but that might not be possible if we can’t get aid. What is the tuittion assistance income cut off probably going to be with most schools, my dad makes enough for us to live comfortably (around 100,000) without my mom working, but it seems like ppl who go to private school are RICH so maybe we WOULD qualify. Do U think so?
It depends on the school, but my son’s friend couldn’t get financial aid at a top school in L.A. (tuition $25,000+) and her family makes just under 100,000. She was accepted, and the school wanted her to attend, but she ended up at a Catholic school half the tuition. While they have a small mortgage and some savings, they are far from well off and her father was on the verge of being laid off. Other families who I know make more than that do receive a bit of financial aid. They may have big debt, or be taking care of elderly family members. Schools prefer to give less aid to more students.
In this economy, if it’s a school you really want to attend and your parents can find a way to afford it, I wouldn’t apply for financial aid with an income over $100,000, maybe $150,000, depending on the school and tuition. It might hurt your chances of being admitted, it matters now more than the school will say. Private schools lost an enormous amount of their funds in the stock market.
While you might think that most families who attend private school are wealthy, they aren’t. In LA, $100,000 income is far from wealthy, but I know that many of the families of students who attend top private schools make around that amount, especially if mom stays home with the kids. Sure, there are very wealthy families, but there are also parents who are teachers and firefighters.
The schools expect the families to sacrifice if they receive financial aid, because the families who are providing the financial aid are sacrificing to do so. Especially now, they must be very careful. Someone who is making $100,000 doesn’t want their donation going to someone else with the same income. Current school families who have never applied for financial aid before are doing so, and they will have priority since they’ve already paid into the school. Lots of middle class families send their kids to private schools because it’s important to them, even if they have to take out loans.
The school likely can’t even tell you what their cut off is because it doesn’t work that way. They usually send the parents’ financial info out to a clearing house that does the figuring. They will look at how many other kids are in private school and you usually must apply for aid to those schools too, debt, unusual expenses, like medical, etc. It’s a complicated formula. They may give aid to a kid who scores in the top 90 percentiles across the board for the ISEEs and has straight As from a private K – 8 with a rigorous curriculum, than to an average student who they are willing to admit, even if the families’ financial situation is exactly the same. So while it isn’t exactly merit-based aid….
Good luck!
October 27th, 2009 at 7:33 am
I don’t think we would be able to know.
I mean, we don’t have to pay for public school.
Well, actually we do pay, but it’s through our parents’ taxes.
References :
October 27th, 2009 at 7:49 am
You would have to ask the school because it varies from school to school. Have you talked to your parents about wanting to go to private school? They would work something out if they thought it was in your best interest.
References :
October 27th, 2009 at 8:09 am
It depends on the school, but my son’s friend couldn’t get financial aid at a top school in L.A. (tuition $25,000+) and her family makes just under 100,000. She was accepted, and the school wanted her to attend, but she ended up at a Catholic school half the tuition. While they have a small mortgage and some savings, they are far from well off and her father was on the verge of being laid off. Other families who I know make more than that do receive a bit of financial aid. They may have big debt, or be taking care of elderly family members. Schools prefer to give less aid to more students.
In this economy, if it’s a school you really want to attend and your parents can find a way to afford it, I wouldn’t apply for financial aid with an income over $100,000, maybe $150,000, depending on the school and tuition. It might hurt your chances of being admitted, it matters now more than the school will say. Private schools lost an enormous amount of their funds in the stock market.
While you might think that most families who attend private school are wealthy, they aren’t. In LA, $100,000 income is far from wealthy, but I know that many of the families of students who attend top private schools make around that amount, especially if mom stays home with the kids. Sure, there are very wealthy families, but there are also parents who are teachers and firefighters.
The schools expect the families to sacrifice if they receive financial aid, because the families who are providing the financial aid are sacrificing to do so. Especially now, they must be very careful. Someone who is making $100,000 doesn’t want their donation going to someone else with the same income. Current school families who have never applied for financial aid before are doing so, and they will have priority since they’ve already paid into the school. Lots of middle class families send their kids to private schools because it’s important to them, even if they have to take out loans.
The school likely can’t even tell you what their cut off is because it doesn’t work that way. They usually send the parents’ financial info out to a clearing house that does the figuring. They will look at how many other kids are in private school and you usually must apply for aid to those schools too, debt, unusual expenses, like medical, etc. It’s a complicated formula. They may give aid to a kid who scores in the top 90 percentiles across the board for the ISEEs and has straight As from a private K – 8 with a rigorous curriculum, than to an average student who they are willing to admit, even if the families’ financial situation is exactly the same. So while it isn’t exactly merit-based aid….
Good luck!
References :
private school parent and trustee