Reply to If college is so expensive ... why don't more families get need-based aid?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We do okay (at around $200K HHI until a 50% jump three years ago) but are not RICH.

We planned.  Used the Vanguard college calculator and saved $400-$600 per month in the 529 since birth.

Limited vacations.  Public school.  Not a lot of meals out.  DIY home improvements.  No family support.

Both children will graduate with no student loans.  [/quote]

That's wonderful, but isn't it crazy that we have created a system where college without loans even for the well to do requires 22 years of significant monthly savings to pay for 4 years of education. [/quote]

That is why there is a public school system as an alternative. Private education at "Elite" schools is a luxury good, not a basic need.[/quote]

How many elite schools do you think would agree with you that they are nothing but frivolous luxury brands?[/quote]

Not agreeing with me doesn't change reality. And, they know exactly what they are because they have no interest in reducing the scarcity of their product. While it might be challenging in some cases all of the "elite" schools could scale up, but they choose not too because Harvard isn't Harvard at the scale of UMich.

[/quote]

Oh, I absolutely agree with you that elite schools are more about the exclusive brand than anything related to education! And I agree that the schools themselves behave as if they understand this. I just doubt any of them would admit it. Part of being a luxury school is obscuring the fact that you’re more a luxury product than a school. Otherwise the virtuous frugal folks on this thread who won’t buy luxury-brand cars or vacations would also decline to buy luxury-brand diplomas. [/quote]

Nope, those are just people who choose to value education highly and make it a top priority.  Whereas you would rather drive your luxury vehicle and go on multiple vacations rather than save for your kid's college.  Life is about choices. 
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