Reply to How Princeton is Getting Around the Endowment Tax

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I've never attended one of these private schools with the massive need-based aid programs. Is it a weird dichotomy with basically only poor kids and rich kids and no real middle class?

I attended a state school so there were basically all types of kids, but lots of middle class. [/quote]

Yup. It is the barbell. Low income (which includes a number of middle income people in this case) go for free so don't care about sticker price. Super rich people don't care about sticker price. Those who are just above the threshold get squeezed - $100k a year is still meaningful to them when there is a much cheaper option. No one cries for the families in high cost of living areas making $400k a year, but going to Princeton will not be easy. Ironically, many legacies fit in this bucket - contrary to popular opinion, most Ivy alums are UMC, not rich.

I was an UMC full pay at an Ivy+ 30 years ago. I was far from ostentatious, but I had a car (a hand-me-down Toyota Camry from my grandparents) and would occasionally go out for dinner, to concerts, etc. on weekends (nowhere fancy). But I had friends who had to think twice about coming to dinner and doing other things that many took for granted. There were plenty of people who advertised their wealth much more, and it was a challenge. And this has likely just gotten worse.[/quote]
Affording Princeton should be pretty damn easy on a 400k/year salary.[/quote]

Ha. At a different Ivy - 2 kids $180k/year is not easy on that salary in this area.  It’s kind of ridiculous people with half that go free when we literally give 50% of our income. [/quote]

And the difference is you have a 2 parent working household (both making $200k) where the households with a parent that never worked are the $200k getting the aid. It’s fkkkd up. They should assign a salary to the non-worker like they do in divorce proceedings. [/quote]

And the families that have inherited wealth but low salaries…sigh. [/quote]
There are certain investment vehicles that aren't often looked at as a potential payment source, like your retirement fund. You could also buy your family a house with the understanding that it's temporary.[/quote]

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