Reply to Are top private colleges mainly for poor people now?

Forum Index » College and University Discussion

Reply to "Are top private colleges mainly for poor people now?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The opposite is true,

according to the new research by Stanford economist Raj Chetty and co-authors.They show that 14.5% of students in America’s elite universities (eight Ivy League colleges, University of Chicago, Stanford, MIT, and Duke) are from families in the top 1% of income distribution, compared with only 3.8% from the bottom quintile. That’s a dramatic overrepresentation of the richest Americans.[/quote]

But think about it. We are talking about a 320k education. Why would the very poor and the very rich be equally represented? Also there are many moor poor people than very rich people so while very rich people are of course over represented they seem to be very much outnumbered by lower income people on campus. [/quote]

What are you talking about?  Op is only referring to "top" colleges.  These places are need blind and have endowments in the billions.   Affluent students are way overrepresented.   Spend a week at a top college and see how many poor kids you can find.  Good luck.[/quote]

Yet the majority are receiving massive need based aid.[/quote]

[b]Massive for the lowest income[/b] ...possibly full ride and then down from there depending on the calculator.   They do not this policy in any way.   Plenty of families want to attend even if they are full pay or only getting awards of 10, 20, 30, 40 percent.  But not all think it is worth it and they go to cheaper schools [/quote]
not the lowest of incomes, or even low income. household incomes up to the 75th, 80th, 85th percentile in the us will receive "massive" aid from the top colleges. Over half of households in the us would qualify for free room, board, and tuition at stanford, for example. 80% of households ($150k) would receive free tuition at stanford. now, of course there is the argument that lower/lower middle/midle class kids are less likely to get into stanford et al. than their higher income peers. fair. still, not remotely accurate to say you need to be low, and certainly not lowEST income for "massive aid."[/quote]

Yes, all of this is right. Which is why, for the tippy top schools, "donut hole" is a complete myth. In reality, schools accurately determine who can afford the schools and who is wealthy enough to pay up, even if those people are themselves in denial. [/quote]

Yes because the schools are the all knowing arbiters of what is a reasonable expectation for a middle class family to pay for their product [/quote]

Not fully "all knowing" but they have a fairly good idea.  Yes, some people hit life events (medical usually), but many choose not to save despite knowing they make decent money.  Make that choice, and you might not afford Harvard. But you will be able to afford right below it.  So focus your efforts on that.   Or make the choice to save more[/quote]

This exemplifies the very snotty attitude of these schools to the petit bourgeoisie- the middlebrow mouthbreathers. [/quote]

I simply do not understand why you feel so entitled to a "luxury product" when you cannot afford it?  Do you do this with everything else in life? Genuinely curious.

Most are focused on complaining "it's not fair, we can't afford T25/elite universities" when the reality is majority of kids, even those with the stats are not going to get admitted anyhow.  Life isn't fair, not everyone who wants to attend school X will get in.  [/quote]

I can totally afford it. That’s not the issue. I just don’t embrace this let them eat cake attitude. And I empathize because when I went to college my parents were not in the position I am now. [/quote]

I can empathize with those who truly cannot afford it.  However, if I put $791/month in a 529 starting when a kid is born (~$9500/year), I would have $322K when they turn 18 (assuming 7% rate of return).  I'd argue that anyone making $200K should be able to do this, if they really desire Harvard for their kid.  And if you couldn't put it in when they were 1 or 2, then catch up by putting in most of your salary increases and continue living with same budget until you are "caught up" But someone bringing in $11K/month after taxes should be able to put $791 towards college savings.  [/quote]

But many of us who are bringing in $10-11 K a month after taxes now were making not much more than half of that when our kids were young and also in day care. [/quote]

And you may be earning nothing a few years later when you turn 55 and get laid off and can’t find a new job because of DEI. [/quote]

So funny that you assume someone making that much money must be white. You’ve justified DEI. [/quote]

Bingo.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics