Reply to As tuition continues to climb in price = easier to get into?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The thread on the easiest prestigious schools to get into made me think about this, especially for American students. The most expensive private schools are now around $ 60-65k all in. Let's assume this trend continues over the next 15 years with schools topping out around $85-90k a year, maybe even closer to $100k, how many Americans will be able to afford that? Do you think schools will have fewer students competing for admittance simply because they can't afford to pay even 50%?

I know rich international students will always be in the background. But American schools can't afford to fill ~ 50% or more of their freshman classes with foreigners just in terms of the optics. Simply put, it'll look bad.

Just curious if you think elite private education will [b]go back to being a luxury for the wealthy[/b] in the way it was before WWII.[/quote]

An elite education is already a luxury for the wealthy, but it's also available to the poor and talented, who qualify for FA.

Before WWII, smart kids who were poor got scholarships. That's how my grandfather ended up at Yale. Middle class kids went to public schools or didn't go to college.
[b]
An elite education is not available today to middle class kids. [/b]

[/quote]

Not true whatsoever. Elite institutions are extremely affordable for the middle class. We make $150K (which is hardly even middle class) and my child goes to an elite school for LESS than what we would have paid at UMD.

It is time to do some research and see what aid is really out there before you go spouting lies. [/quote]

This is true. From Harvard's website:

20% of our parents have total incomes less than $65,000 and are not expected to contribute.
Families with incomes between $65,000 and $150,000 will contribute from 0-10% of their income, and those with incomes above $150,000 will be asked to pay proportionately more than 10%, based on their individual circumstances. Families at all income levels who have significant assets will continue to pay more than those in less fortunate circumstances.
Home equity and retirement assets are not considered in our assessment of financial need.

Although this won't apply to you if you're one of those loons who thinks making $250K is middle class.[/quote]

+1. There is a lot of misinformation out there about the cost of elite colleges. 60% of students there receive aid and the average package is $44000.[/quote]

If the average package is $44000, then what they owe is 4*60-44 = 196k.  If this average package goes to the average HHI of 90k, then (ignoring taxes), they would owe two full years of income per child.  Most people no way can do that, so they are priced out.[/quote]

OMG. Package per YEAR. Not $44,000 for all four years. *facepalm*[/quote]

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