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College and University Discussion
Reply to "Question about financial aid at Ivies"
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[quote=Anonymous]Hoping to get some insight from people who have BTDT...and not get flamed. DS, a junior in high school, is a top student and is already being recruited by good D-1 schools for a sport. With his academic and athletic ability, he might be a good fit for an Ivy League school - but I don't think we could afford it. With a HHI of $250K, and 2 kids currently in private plus 1 in college, our expected family contribution is still $80K a year. The gap between what we can afford based on pay-as-you-go plus what we and grandparents have saved for college, and the cost of attending an Ivy, is about $20K/year - and likely to increase over four years. We are willing to go into some some debt for an Ivy, but not $80K+ over four years (we will still have one in college and one who will be starting college as soon as DS is finished and need to provide for them as well, while funding retirement savings etc.). My question: since we don't meet the federal standards for financial aid, and the Ivies provide no money for merit or athletic scholarships, would we be eligible for *any* assistance from an Ivy school? I completely understand and applaud their generosity to truly needy students - and I admit we aren't truly needy, just middle class people with an affordability gap - but do they ever "find" money for athletes? We know several athletes playing at Ivies, but they come from demonstrably wealthy families so I don't think affordability was a factor for them. I'm fine with cutting out consideration of the Ivies entirely - I'm not one of those people who thinks DS "deserves" an Ivy League education, and he will have options at other good schools where he will be eligible for merit money. However, I'd be grateful if anyone who was in a similar situation would share their experience with FA offers from Ivies. Thanks in advance.[/quote]
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