Home > Tuition Assistance Part 2

Tuition Assistance Part 2

February 27th, 2015 at 09:15 pm

I spoke to the Director of Finance up at school about tuition assistance. He asked me to come in, which I guess is a good sign. It meant that event though we ended up getting no assistance, there was at least some hope.

What he told me was that we didn't get anything because of the large amount of equity of our houses. We have one house that we live in, but the other one (in Ireland) is our retirement savings. We have IRAs but no 401k's or pensions.

He said that if he were me, he'd write an appeal (he said it could be just an email; that it didn't have to be a formal letter). He said we needed to explain a few things:
- the Irish house is retirement savings (not a second home) and that it's rented year-round.
- the tax situation (Irish capital gains is 33% - so the value of the house is not what our equity actually is); plus the exchange rate is lower than when we did our tuition assistance paperwork
- Expenses mean we don't make anything on the rental of the home (we'd really like to sell, but the exchange rate is not great right now but we are hoping to sell the house and buy something somewhere else where we'll make money from the rent)

He said that we may get something if we do this, and we need to get the info back to him by Monday morning.

I already drafted the email!

7 Responses to “Tuition Assistance Part 2”

  1. doingitallwrong Says:

    Good luck!

  2. VS_ozgirl Says:

    All the best!

  3. FrugalTexan75 Says:

    Hope it works out!

  4. chloe Says:

    Fingers crossed!

  5. Looking Forward Says:

    *Fingers Crossed*

  6. TD Says:

    Also crossing my fingers!

  7. Buendia Says:

    Thank you, everyone! We'll see how it goes...

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