Anonymous wrote:FYI, many of the top schools no longer include primary home equity when looking at assets.

If you read several of the recent announcements, you will also see that mentioned in the press release.

Also, what others said is correct…it’s 100% free to say $150k…free tuition to $200k…and all aid disappears close to $300k.

Yes, if you have $1MM just in the bank and a $1MM mortgage, you will be better off paying down the mortgage for aid.

Anonymous wrote:I want my kid to go to school with kids whose parents are educators and artists and social workers and work for nonprofits and take pay cuts do to mission-driven work.

Can anyone please direct me thanks

Anonymous wrote:Maybe colleges should take a page from Deerfield Academy boarding school.

Their formula is that nobody pays more than 10% of income (yes, they will take into account significant assets but not home equity).

So, families up to as much as $800k may get something. Now, typically those families have significant assets and don’t receive anything, but they said quite a few $500k families are getting aid.

As they raise tuition, the formula automatically adjusts.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I interpret these PR messages as referring to "income" below 200k, not assets. Are they talking about income or assets? I honestly don't know many people without property ownership at some level, which would keep them below 200k, especially in the NoVA area.

The advertisement is about 200k income with typical assets.

It's a bit misleading for families who are unfamiliar. People should be using the college's Net Price Calculator, period.

Wouldn't "typical assets" include a primary home? And home pricing is all location dependent. A house in NoVA (inside the beltway) is likely way less expensive than homes in other high priced areas, affluent suburbs of NYC, Seattle, Bay Area, LA ... Of course, if you have multiple homes or rental property, I get that difference. But not sure how your primary residence counts as an atypical asset, assuming you're not hoarding cash and just have retirement savings. I would think that a home in NoVA (inside Beltway) for $1.5M and an income under 200k would still qualify for "typical assets" under these programs.

Anonymous wrote:

Anonymous wrote:I’m wondering what the real motivation is for some schools to do this.

Hopkins is doing it, right?

While I know one kid currently at Hopkins, I know a dozen who passed on the school because of its location (read: fear).

So is that why some schools are doing this? To attract smart kids who could go to pretty much any other school on a full ride?

I just wish someone could figure out how to make college more affordable. It’s all become ridiculously expensive.

They are doing it because they recognize that the people who benefit the most from attending a T25 school (and all the connections) tends to be those "without as much in life". The UMC+/wealthy kids will be fine even if they attend a school ranked 40-100 (or higher), they already have a huge advantage on most kids in life. But those who come from "lower income/first gen/etc" you can really make a huge difference in their lives. SO they want to also fill part of their class with highly qualified kids who will make a difference in the world, and otherwise might not go as far.