Reply to College Acceptances for Washington Latin High School

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[quote=Anonymous]I think many "DC middle class" posters don't understand the reality of college tuition and admissions today.

The first thing to know is that admissions to elite colleges these days is shockingly competitive. It's nice that you think your kid is headed to an elite college, but know that most smart, hard-working, high-GPA/high SAT kids who are active and involved are rejected from elite schools. In fact, most high schools in the country have NO students going to elite schools. None.

The second thing to know is that the elite private colleges offer ONLY financial aid, not merit aid. (There are a few exceptions--Duke, Vanderbilt--but fewer than 5% of students at these schools receive merit-based scholarships.)

The third thing to know is that the cost of attendance for out-of-state students at many flagship publics is as high as elite privates. Michigan, Berkeley--OOS cost of attendance is ~$60k. And neither Michigan nor Berkeley is generous with aid for OOS students. The DC TAG amount hardly makes a dent.

The fourth thing to know is that many DC-area "middle class" families are shocked to learn how little financial aid they qualify for. Please look at the colored chart in this article (scroll down):

http://www.forbes.com/sites/troyonink/2014/11/28/2015-guide-to-fafsa-css-profile-college-financial-aid-and-expected-family-contribution-efc/

Find your AGI and weep. A family with an AGI of $175k and 2 children has an expected family contribution of $40k. And since virtually all of the elite colleges also consider the value of your primary home in determining financial need, people who own real estate in high-COL areas can consider that $40k the *minimum* they might be expected to spend.

The fifth thing to know is that if move down to the tier below the elite, and you find many fine colleges that offer merit scholarships. Instead of spending $40k or $50k a year, with a merit scholarship from these schools you might pay $25k or $30k. That's a big difference.

This list looks just as I would expect for a very small, urban, public, open-enrollment high school. It's quite respectable, IMO. (FWIW, my kids go to a very large, suburban, public, open-enrollment high school that is very highly ranked.)[/quote]

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