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Reply to "The New America: Elite Privates forever out of reach for UMC?"
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[quote=Anonymous]The generous policies that the top schools (the ones with no merit aid) brag about all assume “typical assets.” I don’t know what that means exactly, but it can eliminate aid for people who save. Yes, some schools ignore houses and most only take a small percent (each year, for each child) of the parents’ assets, but don’t those same schools expect the parent to magically divert about a third of their annual income to college, requiring loans or spending down other assets if one continues to live while the kid is at college? It’s been a while since I read all the formulae. Anyway, maybe a typical school needs lots of full pay kids to offset the kids with need, but I don’t think Harvard, etc, really needs the money of the older parents in this conversation. [/quote]
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