Reply to How does most of America pay for these elite schools?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]In our case - both sets of grandparents are also paying, we only have two kids, and we can live comfortably from the lowest salary, so we also pay as he goes for DC1's med school. We make almost 500K/year and we moved to a lower COL area, so our mortgage is low.   [/quote]

so basically you didn't need to save anything and you could still fund your kids' college and beyond. the vast majority of parents whose kids go to elite colleges have big homes AND fancy vacations AND nice purses AND fancy clothing. you can't save your way to 80k/year tuition, and even if you can, you shouldn't. it's like private k-12. if you need to eat $1 ramen noodles to pay tuition, it's not for you.[/quote]

You sound bitter. Smile more,talk less....[/quote]

no, not really. we moved to europe and kids will go to college here.[/quote]

I'm the first PP, I'm very aware, as I went to an Ivy decades ago. I remember the sociology professor telling us that the average family at my college had an income of $250K, which is over $400K in today's money. It's changing tremendously now, as the tuition is zero for those making under $125K/year. So yes, if you have a brilliant child and you are not wealthy, an elite college is a better bargain than UVA or UMD. 
I'm European by birth and we looked into that option too. However, for med school, is not great, as the medical students from foreign universities have a much harder time getting a residency here in the US. [/quote]

It's changing in that they've replaced the middle and barely upper middle class kids whose parents used to be able to stretch to afford those schools out and replaced them with poorer kids. The rich kids are still there, it's just more of a barbell than ever [/quote]

Exactly. I think the high income / low income divide is fueling divisiveness at these schools. [/quote]

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