Reply to Top Colleges Are Cheaper Than You Think (Unless You’re Rich)

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[quote=Anonymous]This forum repeats this discussion weekly. No one disagrees that college is too expensive. Practically, some of us think the tuition panic makes many greatly qualified students avoid applying to elite colleges because they can't imagine paying the sticker price. Most of the elites do not include student loans in the aid packages and many limit/ignore home equity in their financial aid calculations.  There are very few truly low-income students in the elite colleges (far too many very wealthy full-pay). But the self-pity of very successful people earning in the top 10% of incomes is simply beyond me!

Why do families earning $150-250k (in the top 2-10% of incomes) deserve financial aid ahead of others? While I sympathize, I am too dense to understand why you think a family making $75-125k should get less financial aid than yours. Theoretically, we could all live on less than we earn and save more for long-term predictable things like sending kids to college.  Someone dollar-cost averaging $500/month since 2000 would have about $250k after taxes and fees - enough to pay for four years of tuition at all the Ivies -- leaving just $200-250/month to pay out of current income for room, board, books, and fees.

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