Reply to UChicago will offer free tuition for families with incomes below $250,000

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]This is great news but of course you have to read the fine print. Hopefully all other elite schools will follow suit. [/quote]

Actually, Chicago is following other elite schools.

They are not the first with this idea.

And honestly, rather than doing this, why not just lower tuition by $20,000 for everyone?

250,000 is already quite wealthy.  Most of the families will fall below this threshold, which means a very small number of families will be paying their over inflated tuition while others have zero skin in the game
[/quote]

That’s not how the math works out at all.

Most families at Chicago will [b]not[/b] qualify for aid under this policy. The Chicago student body leans very wealthy, even though the school is ostensibly need blind, because they strongly prefer students from expensive private schools and with  other indicia of wealth. Thus, most students at Chicago come from families making over 250k/year.

Also, a substantial number of families making under 250k/year will not qualify for aid under this policy because Chicago will decide that they have more than “typical” assets.

Thus it would cost Chicago a great deal more to lower tuition by 20k for everyone than it does to announce this policy. [/quote]

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