Reply to I predict one top school will be all-scholarship in next 5 years.

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I think there are people here who think all families who are paying full price are doing it by ripping out a check without another thought. "no problem paying" etc.

I live in a 2 bedroom, 1 bath apartment in Brooklyn. The Princeton NPC says we can afford the full boat. LOL, what? Part of it is how we earn money (solo member LLCs with okay income - under 200k - that limits what we can put into retirement), part of it is how we spend money (toggling off HULU every 6 months, staying in the apartment we bought 25 years ago), part of it is how we save money (dollar cost averaging every single month no matter what).

We can't spend 400k for college. We have no inheritance on the way. We have to think about long term care for one of us

A lot of people don't even apply.  Why would Princeton or another school make this move? Because at some point they'll wake up and realize 40 billion is enough money for a medium sized university and they will start to use some of the money it throws off. They could cover tuition for all and their endowment would still grow by a few billion a year.

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While I  understand your argument, something doesn't add up, literally. We make $250 in the DMV, and the Princeton NPC has us getting pretty significant aid, bringing price down to about $30K. Is is that you have significant assets that are counted (i.e., not retirement, not home equity)? [/quote]

No, it's likely bcs you and I may have very similar assets but mine are not sheltered in retirement or home equity. I can only move so much into retirement with no corporate matching and we are too conservative to buy a pricier apartment. And we are taxed pretty high in nyc (fed, state, city) so we take home a lot less on same income.

I wish colleges took all assets and used a percentage. Like you can pay 2% of all assets. It's classist to let people shelter millions in retirement and home equity IMO.  but nobody is asking my opinion[/quote]

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