Reply to How does most of America pay for these elite schools?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I get that most people on DCUM have $80k saved per year of college and much of America (HHI under $125k) gets aid but do these two realities really cover these gigantic pools of applicants to all the top 50 schools?  has the rest of America also saved $80k/year/kid?  am I missing something? thinking about this tonight as friends of ours just had their daughter (one of 6 kids, first in college) commit to Carnegie Mellon. I know for a fact that they make more than $150k but I had no idea that $&0k/year was in their budget. [/quote]

Responsible parents save for their kids' education.  [/quote]

I’m a responsible parent but I don’t make enough to save much. I’m a single parent and a teacher. I have about $5K saved with two years left before college. I make around $70K. Plenty of parents don’t make enough to save for retirement and college. I took out loans and paid them back and so will my kid. That doesn’t make me an irresponsible parent. [/quote]

PP, if your kid gets into a top private school, they will have a full ride / no loans.  [/quote]

It would be nice if University of Richmond does what UChicago does with admitted kids of CPS teachers:  full-tuition scholarships.  They also have some scholarship monies set aside for children of the city’s first responders.[/quote]

Please. People who choose to be teachers know what the salary will be, it isn't like it decreases every year. Plus, get a summer job to make some tuition money.[/quote]

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