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Reply to "How does most of America pay for these elite schools?"
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[quote=Anonymous][quote=Anonymous]I get that most people on DCUM have $80k saved per year of college and much of America (HHI under $125k) gets aid but do these two realities really cover these gigantic pools of applicants to all the top 50 schools? has the rest of America also saved $80k/year/kid? am I missing something? thinking about this tonight as friends of ours just had their daughter (one of 6 kids, first in college) commit to Carnegie Mellon. I know for a fact that they make more than $150k but I had no idea that $&0k/year was in their budget. [/quote] You are perhaps asking the wrong question...the reality is that most of the Top 20 private schools (I think at least 15) are all grant / no loan schools. CMU may be an interesting example, because not sure if they made the same pledge. So, a parent with 6 kids and $150k is getting much of college covered by grants, with some minimal parental contribution. It is when you move outside this group that college actually gets more unaffordable. Think OOS for a top state flagship like Berkeley or a Bennington College in VT (as just random examples). [/quote]
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