Looking for some realistic FA information. A good friend has expressed her wish to send her own child to boarding school and she has been asking about FA of which I know little. (We did the preliminary calculator which showed no eligibility for us so we didn’t even apply for it.). She and her husband make about 250,000 but due to school loans and now a mortgage for a house in a major east coast city suburb, They have no savings at all and a house with very little equity. Two kids , one with special needs. The one child would benefit from the challenge of an elite BS and some space away from the stress of the focus on the special needs child. Thoughts?
No savings, little equity, loans, a special needs child - apply!! We found the FA packages more generous than expected. PM me for details.
Send your friend SPS’ FA estimator: http://www.sps.edu/Page/Admission/Affording/Financial-Aid-Estimator. They will be encouraged. With their special circumstances, they should expect more than the general estimate of their income level.
Always apply. The great thing about most boarding schools is they consider all the circumstances of a family. This is very different then our experience with colleges.