Anonymous wrote:At Harvard: 55% of our undergraduates receive need-based Harvard scholarships.

Are people taking out massive loans or is everyone just actually RICH?

Many of the ivies give full aid to families who make up to 175k per year and some need based aid up to around 250k Household income. Full pay is for everyone 250k and above. We only started making 300k a few years ago and made less than 100k when our second kid born. Yet we are fullpay for one at an ivy and about to have a second in college, probably will also be elite and 87k. All with a 4300 per month mortgage in the DMV, and we did parochial school then magnet public for free. We do consider ourselves quite rich! We just dont spend it, we save it and live off less.
It is not that hard for over 250k to find a way, without loans, as long as they planned early and saved even 3-5k a year early on. That’s a small vacation or a less expensive car or no $16 lunch&tip 5 days a week at work when you can pack leftovers or a sandwich for $1 a day

Anonymous wrote:

Anonymous wrote:So called need blind schools rig their acceptances so they know statistically that about half their students will not qualify for aid (by focusing on private schools, affluent zip codes, etc)

links?

DP

You can look at the common data set and draw your own conclusion.

Anonymous wrote:At Harvard: 55% of our undergraduates receive need-based Harvard scholarships.

Are people taking out massive loans or is everyone just actually RICH?

Some people have to decline because they can't afford HYSP after they get accepted. UMD scoops up some of these folks with free tuition.

Anonymous wrote: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.

PP again. Retirement is fully on track.

I don’t understand why a family that has room in their budget does not sit down and make a plan. It’s not complex. You can open a 529 account in 10 mins.

https://vanguardcollege.ssnc.cloud/csp.php

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.

short answer is everybody takes out loans, right? that's how they make us pay so much. they know we have demand at a level that will make us pay more than we want or even have at hand via savings, income, 529, but what we will accept because we can stretch repayment via loans.

A majority of kids who go to college have parents who went to college. If you are a dual-income professional couple working in an urban area like DC, you likely make too much to qualify for aid but not enough to be RICH, especially for the cost of living. So, I imagine a lot of loans, delayed retirement funds, and years of savings are all in play.

Though when it comes to Harvard, I doubt there are too many people in this category. It seems like most are on either end of the socioeconomic spectrum without a lot of kids in the middle.

There are only about 20 private universities that genuinely meet all need. And they are usually very hard to get into. Unless they get merit somewhere, for most middle class families who want to avoid debt the options are T20 or State U. Which is why admissions to State U flagships will continue to become more competitive even with changing demographics. Affordability is increasingly the main driver of where students choose to go to college.

Mostly super rich.

Anonymous wrote:So called need blind schools rig their acceptances so they know statistically that about half their students will not qualify for aid (by focusing on private schools, affluent zip codes, etc)

links?

Did you think that Harvard was for smart kids? Harvard is and has always been for rich kids

So called need blind schools rig their acceptances so they know statistically that about half their students will not qualify for aid (by focusing on private schools, affluent zip codes, etc)

At Harvard etc that "meet need", yes everyone not getting need aid is either really rich or just rich enough to not qualify and so are taking out loans.

Most colleges, however do not "meet need" so lots of people who have need will only get minimal money from the school and then take out loans.

Both

At Harvard: 55% of our undergraduates receive need-based Harvard scholarships.

Are people taking out massive loans or is everyone just actually RICH?