Reply to need-based aid vs. merit aid

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]It's not outrageous. Schools can engineer their costs and financial aid  and the demographics of their student body any way they see fit.  They clearly see some advantage in drawing students from a wider variety of SES backgrounds.

Your kid doesn't have a right to go there. It's a privilege. If you don't want to pay the asking price and you don't see an advantage, then go somewhere else. Kids in high SES have a ton of advantages. The absence of financial aid from a handful of schools doesn't even begin to level the playing field. [/quote]

I agree with this, and I say this as someone who has a fairly high HHI (although perhaps not by DCUM standards). We will have an estimated family contribution of about $45k, which means DC will qualify for some financial aid at schools that guarantee to meet need.

But DH and I don't think we can really afford to pay $45k. We view $30k/year as more realistic for us. So we have set our sights on in-state publics for DC. DC is welcome to apply to other schools, but those schools will be not be considered unless they pony up merit aid to bring the cost very near $30k/year. If they don't, no problem--plenty of in-state options available. Our DC has had many advantages, and [b]attending a state school will not do him any noticeable disservice[/b].[/quote]

But what would you do if your DC insists on attending 60k/year school (i.e., "dream school")? [/quote]

We're in this boat now.  Admitted to dream school with no aid and we can't pay full tuition.  Look it sucks but if we can't afford it, we can't afford it.  DD is screaming about taking out loans and I'm teaching her about budgeting for life.  Housing, transportation, insurance, food, clothing, utilities, and entertainment.  We're looking at starting salaries for her field-- taking out taxes and 401k.  You know what-- she doesn't have enough money left over to pay her loans.

She's mopey and pissed off at us.  But we can't afford it.  She knew before applying that without aid she could not attend but she believed aid would come.  It didn't and my heart breaks for her.  But this is the reality of life.[/quote]

So basically, she can't attend dream school because she can't pony up the extra 10k of tuition for another student whose parents didn't plan for college. And that becomes your problem. Charming.[/quote]

I think need-based implies that some students' parents CAN'T afford to pay for college. There is value in making higher education available to everyone, regardless of ability to pay. And yes, that means the full-pay students subsidize the students receiving need-based aid.

Do you actually believe college should be reserved strictly for students whose parents can afford to pay the full rate?

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