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Reply to "Princeton spared from endowment tax"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]It’s very clever, but when my child was looking at Princeton, I did think about what it would be like to pay full tuition at a place where the majority of classmates are paying little or nothing. I’m glad for them but schools with less generous policies (Yale) do feel fairer to payers like me who aren’t rich. Which is not something I’d thought about before.[/quote] This is an interesting and weird take. Princeton is still a quarter full pay students. That is a lot. How is it not fair if you can afford the full pay and others who can’t receive aid? (We are a full pay family) [/quote] A quarter isn’t that many! Especially considering how rich the richest are. My family income is under 200,000 a year and we live modestly. We have retirement savings and an inheritance that are not inside a retirement vehicle and therefore are not excluded from calculations. We would pay $95,000 a year and someone in a similar financial situation with their money in retirement funds would pay much less. Obviously we are lucky we can pay at all. When we toured Princeton, our tour guide made a point of saying that people with income under $300,000 will get financial aid and that only extremely wealthy families have to pay full tuition. I understand she was making a general point but wondered whether that was what students think.[/quote] You would NOT be full pay at Princeton. Princeton is far and away the most generous school in the country with aid.[/quote] PP said, "We have retirement savings and an inheritance that are not inside a retirement vehicle . . . " She conveniently left out the amount of both the savings and the inheritance. Just another case of a rich person trying to plead that is isn't "fair" that others get aid that they don't. [/quote]
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