Reply to What did you pay last year (tuition+living) for DC college?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]You make one really good point: families in the $180-$250ish HHI are truly screwed. You earn too much for financial aid and can't afford the price tag. Yep, you're screwed. 
To your other issue: Statistically speaking, how many families earn between $180-$250k [i]and[/i] get two kids into HYPS (with acceptance rates about 5% for one kid)?  Gotta be really small. Your lottery odds may be better. [/quote]

My child was admitted to one of those schools a few years ago, from the Blair magnet.  Straight As with one B in HS and 2360 SATs.  Our HHI is $230K and we could not pay the full price.

Child is at a well-regarded state flagship school on a full merit scholarship.  We have set that child's college savings aside for graduate school.

We know many families like ours.[/quote]

PP here.  I should add that studies support the fact that anyone *capable* of gaining admission to an elite institution is highly likely to be successful wherever s/he goes.

http://cdn.theatlantic.com/static/mt/assets/business/dalekrueger_More_Selective_College.pdf

http://www.theatlantic.com/business/archive/2015/04/the-3-percent-crisis/389396/

[i]...actually getting into Princeton isn't as critical as being the type of person who could get into Princeton. (They did find, however, that for low-income students, more-prestigious schools yielded higher earnings, which is another issue entirely.)

This finding isn’t just clarifying. It’s inspirational. It says that the college-admissions process, which millions of 18-year-olds consider the singular gateway of their young adulthood, is actually just one of thousands of gateways, the sum of which are far more important than any single one. While hundreds of thousands of 17- and 18-year-olds sit around worrying that a decision by a room of strangers is about to change their lives forever, the truer thing is that their lives have already been shaped decisively by the sum of their own past decisions—the habits developed, the friends made, and the challenges overcome. Where you go to college does matter, because it's often an accurate measure of the person you're becoming.[/i][/quote]
Exactly! This is what HYPS and many others give aid to students who really need it. As you've pointed out, your kids don't need the money to go to Harvard because they'll be successful anywhere they go.  [/quote]

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