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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Often 2/3 of students at top ranked schools are getting need based aid that covers the vast majority of costs, on average.

200k is the typical cut off for need based aid (about the income level of a couple of school teachers at the peak of their careers aka “the wealthy”)

It just seems these schools must be populated primarily with lower income kids and then 1/3 rich kids.

I guess middle class kids end up at state school. 
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Poverty line is $35k per year.  Median American income is $69k. $200 k annual warning is top 10% nationally.  [/quote]
$220K in DC area is considered MC. It depends on where you live.[/quote]

Choosing to live in an expensive zip code doesn’t change what socioeconomic class you’re in.[/quote]
Once again, people don't necessarily "choose" to live in a hcol; they go where the jobs are.  Notice how during the pandemic when people could wfh, a lot of people moved out of higher col areas.  But, now many are returning because companies are requiring RTO.
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220k will get you a 900k house in Silver Spring, IB for perfectly good schools, close enough to the metro to commute that way but also not an insane driving commute, meals out a few times a week, a few nice vacations a year, two cars, and once you've saved up for that first down payment and gotten through the childcare years, you'll be able to max out your retirement and put a ton away towards college (unless you choose to have more than 2 kids, but that is on you friend).

The issue is that those of you in this income bracket don't want to live in a 1950s split level in Silver Spring because you think it's beneath you. You think you are middle class because you are living in a house built for a middle class person in 1955. But this is what happens in high COL areas. It doesn't magically make you middle class. You are living in a house worth close to a million dollars. Middle class peopel can't afford that.[/quote]
OK, but even in Silver Spring, median income is much higher than somewhere like WV.  Like I said, it depends on where you live.[/quote]

Your argument is that the high cost of living magically makes someone making over 200k middle class, but if that income provides you with plenty of very nice options in the region without an obscenely long commute, then no, it doesn't. You're UMC. But none of this matters because (1) your kid isn't getting into Harvard anyway, and (2) if they do, you could absolutely afford to pay the sticker price, it would just take some sacrifice on your part. Whereas an actual middle class family, making under 150k/yr, simply could not afford it no matter how much they sacrifice because they can't afford any kind of home PLUS 70k/yr in tuition. Thus they get money and you don't. Get over it, and maybe focus your attention on making public colleges and universities very high quality and affordable to anyone. Harvard gets to decide how they handle their endowment themselves. They disagree with you.[/quote]
? my kid is going to a state university, but you are side stepping the point because you can't argue with the point:   it's ridiculous that these colleges expect a family that is making $280K to pay the same amount as a family making $800K.

Harvard gets federal money for research. Why on earth should they get all that money if their endowment is so large that they could let in every freshmen come in for free for 10 years or more.  Those schools are greedy, and the rich are keeping it that way for a reason.  It makes such schools unreachable for the majority simply due to finances.[/quote]

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