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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]

There is no magic money that does not require trade offs or enough &quot;waste&quot; [b]to eliminate that will cut tuition by more than half[/b].  Should colleges just give less financial aid to those who aren't in the top 10% of incomes. In the old days (before 1970) there might have been a couple dozen students in an Ivy class that were truly middle income or lower. Now, they get financial aid and are the majority of students. [/quote]

I don't think that is true.  In inflation adjusted dollars, a private education used to be about half what it is now.  We need detailed budgets to help us understand why this has changed.  The diversity of our education system is a plus.  To move to big box education for everybody but the ultra rich, the ultra poor, and a few in the 0.01% of academic achievement will depress innovative thinking in our country.[/quote]

60% of Harvard students receive grant aid and pay an average of just [b]$12k including room/board/fees[/b].  A family earning $150k will only be expected to pay 10% of income ($15k). One earning $200k will typically pay 15% of income ($30k).  Its is the middle and upper middle class who get the lions share of financial aid at selective private colleges because there are very few "ultra poor" students -- just 18% receive Pell grants meaning their families have income below $50k.

[/quote]
I'd guess that the previous poster thinks that $ 200k is 'poor', and as such, the $200k income 'poor' are the majority. [/quote]

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