Tuition Scholarship Question re Stocks

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Forum -> Chinuch, Education & Schooling

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amother

Mon, May 27 2024, 1:05 am

This is not about me. This is about someone I'm close to and I'm uncomfortable with what they did.
But this person is close to me... so please go easy with your responses.

Let's say a person put 10,000 into stocks and now their stocks are worth 50,000. They haven't sold, so the stocks can go up and down all the time.

Their kids' school has a questionnaire to see if they qualify for a tuition break.
There are categories to fill in about how much money you have.

One category is stocks.

What do you think the school expects?

For them to write 10,000 or 50,000?

And why?

amother

Almond

Mon, May 27 2024, 1:06 am

You put what it’s worth at the time of the application

amother

Lightgreen

Mon, May 27 2024, 1:07 am

Obviously the school expects the $50,000 number, because they expect you to liquidate your assets to pay tuition.

If this money is invested for a simcha or retirement, you may be able to put a note to that effect.

amother

Mon, May 27 2024, 1:08 am

Right.
This person is insistent that they will write down how much is actually "theirs"...

I know that they have major insecurities with finances..

But isn't that straight up lying/cheating?

amother

Mon, May 27 2024, 1:09 am

This person has money in IRA too, but left that section on the form blank, because they felt it's not the school's business to know how much is saved for retirement, and because the money can't even be pulled anyway, without penalties, until a certain age.

amother

Lightgreen

Mon, May 27 2024, 1:16 am

amother OP wrote:

Right.
This person is insistent that they will write down how much is actually "theirs"...

I know that they have major insecurities with finances..

But isn't that straight up lying/cheating?

That $10k isn't "theirs" either, stocks can lose their entire value.

I sympathize with them, those stocks are probably their emergency fund and the thought of having the school take them is terrifying.

Can they ask a Rav if they can leave that section blank as well?

In the majority of cases I don't believe that schools should be looking at anything beyond income to decide tuition discounts... those who tried to save beforehand get unfairly penalized for being responsible.

amother

DarkGray

Mon, May 27 2024, 1:22 am

Honestly, that’s really tricky because stocks can change so quickly. Something can go up or down and until you actually pull it out you really don’t know what it’s worth. Must be a very difficult place to be in. I’m not an American. I’m in Israel, but tuition is so Expensive in America. Probably shouldn’t have commented, but we have a lot of stock so I really understand her feeling.

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