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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Thanks for your observations OP. I have a junior in HS. Hoping I can manage expectations. It seems incredibly tough out there.[/quote]

And never apply anywhere ED.  That just telegraphs a willingness to pay more than you would otherwise have to pay.

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If your family income is such that there's no way in hell you'll get financial aid, this advice does not apply.[/quote]

Or if you have run the NPC and filled out the forms honestly, which is something every family should do, it also does not apply.[/quote]

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You need to understand the difference between financial aid (which need-based and requires applicants' families to fill out intrusive FASFA forms) and merit scholarships, which are awarded without reference to family income.  Merit scholarships are tuition discounts, and all but the top 25 or so private schools award them as a matter of routine.  You don't even have to ask.

At the supposedly elite schools, there aren't as a rule any "merit scholarships" but there are discounts.  Here's how it works:  There are basically two types of students attending these "elite" schools.  One type comes from families wealthy enough, and willing, to pay full sticker price.  The other type is the kid who needs financial aid.  The money for that kid's financial aid comes from the families that pay full-price.

At all private residential colleges, the TRUE cost of attendance is roughly 1/2 of the published sticker price.  So, the schools awarding merit scholarships simply discount their costs so that, on average, all students are paying the true cost.

At the "elite" residential colleges, the TRUE cost is roughly 1/2 the published sticker price.  And, on average, the revenue per student is 1/2 the published sticker price.  But the average revenue per student is attained, in effect, via a redistribution of income.  Rich parents pay for their own kids to attend, and they also pay for kids from families who can't afford to pay.[/quote]

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