Reply to The New America: Elite Privates forever out of reach for UMC?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]It is insane that costs have soared to such an extent that only the very wealthy and those who qualify for need-based financial aid can attend elite schools.[/quote]

Did you see the links in this very thread showing that elites give generous financial aid to incomes of $200K?

[/quote]

Yes, I did.

One of my children applied to one of those schools, was accepted, and received $5500 in federal loans.  That's it.  We can pay about $50K/year but the gap (total $80K+ over four years) was insurmountable for us.  DC is at a lower-ranked school with a big merit scholarship.

I have a friend whose daughter attends Dartmouth.  The parents are working class and make under $100K together.  The DD will graduate with about $30K in loans.

Not everything plays out as those schools advertise.[/quote]

Sorry, but there must be more to those stories.  [/quote]

There isn't.[/quote]

Well yes there is because you haven't mentioned your income or assets, only what you decided you could afford.  There's more to the financial story. End. Period.[/quote]

I'm years away from paying college bills so I'm not current. But I do remember when I was applying to colleges in the late 1990s that plenty of lower income people did not get generous financial aid packages you'd think they would. We're talking about the son of a secretary getting minimal financial aid at Stanford so he went to a lesser LAC on near free ride. Or middle class kids with two teacher parents still taking out large loans to go to an Ivy.

So I concur you should not make assumptions that the top or rich colleges are always as generous as they seem. [/quote]

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