Reply to If college is so expensive ... why don't more families get need-based aid?

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[quote=Anonymous][quote=Anonymous]We are in the $400,000 HHI and saved enough in DC’s 529s that they could go almost anywhere. First DC loves the large, southern publics and with good grades, test scores, and ECs has significant merit (enough to bring down to in-state costs). Will have enough left over to go to grad school.
Why choose a higher cost option for undergrad?  We have friends who are hooked into the prestige of a T20-50 over a T50-100.  Seems like a total waste of money. But, then again, DC was unlikely to get into a T20 and got the merit at his 2nd choice of school T50-100.

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If your kid likes the large public schools, then yes, do not waste your money on $90K privates.  In reality, if you don't have the money saved/cannot easily pay it, do NOT waste your money on $90K privates.  But if you have saved it or can easily cash flow it (we can do both), it's not a waste of money.  it's precisely why we saved that money in the first place.  
But for us it's not about prestige, but more about, where does our kid want to attend college and is it the best fit for them.  My kid is not at at T25, but got multiple offers in the 30-70 range, many with merit.  The best fit for them was the only school without merit, so we are paying.  But my kid knows that 99% of people would be attending one of the others, one of the ones with 50-75% of tuition awarded schools.  [/quote]

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