Reply to The New America: Elite Privates forever out of reach for UMC?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote]Not PP, and I would like a beach house, too - but cannot afford one.

The NPC for Yale (where my DC was admitted) for us said $68K.  Yale offered $5500 in student loans and work-study.  That's it.[/quote]

Among those from families earning $200-250k, 72% in the class of 2021 received financial aid. The median "scholarship" was $27,152 and the median net cost was $45,051.  Yale does not include any student loans in their financial aid packages. [/quote]

Interesting point about loans.  So was the PP lying or misinformed?[/quote]

No, Yale and the other elite colleges have a "student effort" or "student contribution" component of their financial aid package that roughly equals the non-billed expenses (books, personal expenses, and travel expenses) included in the cost of attendance. Some students choose not to earn and save that component and take out loans instead. Yale and the other no-loan schools facilitate student loans in those cases and for those who wish to take out loans instead of paying the entire parent contribution. [/quote]

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