Reply to Would you take Tufts, Emory, Wash U over UVA?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I know a few families that chose Wake Forest over UVA, so wouldn’t be hard to believe UVA loses in these cross-admit hypotheticals. Private school families generally prefer private school college. If you’re a public school family you’re oblivious to what you’re missing, so your standards are quite low. You’re used to being invisible.[/quote]

Wake is one of those schools that has gone to the rich.  Median family income is $221K according to NYT, 8th highest, compared to $155.5K at UVA.  Wash U is 2nd highest at $272K.  Tufts is $225K.

https://www.nytimes.com/interactive/projects/college-mobility/wake-forest-university [/quote]

Yes the only reason Wake is highly ranked to begin with. It's for wealthy above average students. Not elite... NYU and UNC are better. [/quote]

I just don't understand how families afford a price tag like for Wake. We exceed that income level and have very little debt b/c we live relatively modestly. We have a nice 529 for our DC. And WF is a gorgeous campus. But, we could not afford $70,000+ a year. [/quote]

Not sure how WF works, but the thing to keep in mind with the wealthier schools is how much grant aid they give.  They charge tuition far above cost of attendance (they may argue cost of attendance is way above that by throwing in research expenses, etc.) then offer some of the surplus as grant aid up to relatively large income levels.  It may be unfair to compare to Princeton, but here is how their model works:  https://admission.princeton.edu/cost-aid/how-princetons-aid-program-works  Rice has a similar model.

We exceed the median at Wake as well, but it makes me choke when I see that amount.  It is simply too much money for college.  Something is wrong in the system.  I don't live in Virginia at the moment, but if we did, I am pretty sure my son couldn't be accepted at UVA or W&M.  He has too many spotty grades.  He does well on standardized tests, though.  There may be some reputable privates that would take him because he helps some reported metrics (i.e. SAT) and doesn't hurt others because they don't report them.  But $70K+ per year is ridiculous.

I think many privates are having trouble collecting anything close to list price.  But those are the less prestigious ones.  The top ones can be ridiculously wealthy due to tax free endowment accumulation.  Princeton's endowment is in the $26B range for 8,200 students.  Their average cost after aid is less than half of UVA, but they could pay all expenses for all students with that endowment.

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