Financial Aid Assistance Question

[34Defense]

Hey guys, me and some buddies at work were discussing high school football and the big three (BA, MBA, Ensworth) in middle Tennessee.

 

A big question that came up is: How much assistance does a family whose household income > $100,000?

 

This question isn't really football related, but I may get hammered because of the bickering going on between public and privates. It just pertains to an ordinary student.

 

I noticed, between the big three, all three give out financial aid to less than 27% of the student body.

 

Honest question. None of us have kids yet and we were debating whether we would even contemplate the idea of sending our kid(s) to a private institution.

 

Thanks in advance for any knowledgable responses.

Edited July 29, 2015 by 34Defense

[Playerscoach]

Hey guys, me and some buddies at work were discussing high school football and the big three (BA, MBA, Ensworth) in middle Tennessee.

 

A big question that came up is: How much assistance does a family whose household income > $100,000?

 

This question isn't really football related, but I may get hammered because of the bickering going on between public and privates. It just pertains to an ordinary student.

 

I noticed, between the big three, all three give out financial aid to less than 27% of the student body.

 

Honest question. None of us have kids yet and we were debating whether we would even contemplate the idea of sending our kid(s) to a private institution.

 

Thanks in advance for any knowledgable responses.

It's based on need. The paperwork is completed by the family and mailed to a third party organization (most use the same one). It includes tax returns and other information. The third party then determines the amount of need allotted and the school uses that.

 

Regardless of the need it is my understanding no student can attend a school for free. I might be wrong on this though but I believe the absolute lowest amount paid regardless of need is approximately $1,000.

[DougS]

need-based does not necessarily mean low income.  Debt ratio is also part of the consideration.  rent, credit cards, cell phone, cable, etc does not factor in.  if a family makes 45,000 a year and lives in an apartment, car is paid off and does not have any debt other than rent, credit cards, etc. , they may not qualify for any need assistance.  if a family makes 100,000 and has a 2500 month mortgage, 2 car payments = 1000, they may actually qualify for assistance.

 

You do understand that no money is actually received;  no check is written then signed back over to the school. most schools have endowments where the "assistance" comes from.  

 

most schools give out very little need assistance and the vast majority of the assistance goes to non athletes.  The Arts department students get more than football and basketball students.