Reply to s/o Sending your child to a small liberal arts college for $50k a year is a rip-off

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Reply to "s/o Sending your child to a small liberal arts college for $50k a year is a rip-off"

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[quote=Anonymous][quote=Anonymous]Speaking as a college administrator, it seems that several posters are misinformed about financial aid, especially at the most prestigious liberal arts colleges (Amherst, Swarthmore, Williams, Wellesley, Pomona, etc.). These schools have tremendous endowments that enable students who qualify for financial aid (using fairly standard financial aid formulas via FAFSA) to attend with minimal, and sometimes, no loans. In other words, if your children are able to get into these highly competitive schools and you qualify for financial aid, you may actually spend less money than sending your child to a state school under severe budget restrictions. It really pains me to see excellent students from poor families who don't even bother to apply to these schools because their parents believe that the price tag is too high. That is simply not the case.[/quote]

This is such an interesting, revealing post. It's just so "painful" that poor kids don't have the good sense to know that college doesn't ACTUALLY cost $50,000 per year -- when that's the price listed on the website, in all the guidebooks, when you google "Swarthmore tuition." No, the poor kids are the ones who don't know better, who go to the less prestigious schools with the skimpy endowments, borrow way too much, don't have hovering alums helping them find prestigious internships. If it's "simply not the case" that you don't charge $50,000, then don't advertise that you do.

That said, as others have pointed out, the crisis in higher ed is in the lower ranks. Kids are borrowing way too much to attend middling schools that can't afford to discount tuition. And many of those schools cost the same $50,000 per year.

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