Reply to If college is so expensive ... why don't more families get need-based aid?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We do okay (at around $200K HHI until a 50% jump three years ago) but are not RICH.

We planned.  Used the Vanguard college calculator and saved $400-$600 per month in the 529 since birth.

Limited vacations.  Public school.  Not a lot of meals out.  DIY home improvements.  No family support.

Both children will graduate with no student loans.  [/quote]

That's wonderful, but isn't it crazy that we have created a system where college without loans even for the well to do requires 22 years of significant monthly savings to pay for 4 years of education. [/quote]

That is why there is a public school system as an alternative. Private education at "Elite" schools is a luxury good, not a basic need.[/quote]

How many elite schools do you think would agree with you that they are nothing but frivolous luxury brands?[/quote]

Not agreeing with me doesn't change reality. And, they know exactly what they are because they have no interest in reducing the scarcity of their product. While it might be challenging in some cases all of the "elite" schools could scale up, but they choose not too because Harvard isn't Harvard at the scale of UMich.

[/quote]

If the ivies/elites scaled up, opened more seats, they would not be able to provide what they do best: small classes, professor to student ratio that allows every student who wants to be able to get involved in research (humanities profs do research too, thus this is not merely a stem-kid need), and funds funds funds to provide many paid opportunities for the students, as well as multiple advisors at all levels which is quite helpful for grad/prof apps. I have had one at an ivy and one at a T30 state school: it is night and day as far as opportunities and education. 
In that sense ivies are most definitely a "luxury" good: however it is one that is easier to attain if you are Questbridge level poor(admissions much easier through QB) all the way up into the 200s-k income range (ivies give need aid to a much larger range of incomes, and they give better need-aid to the 100-200k range than private schools in the T20-40)[/quote]

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