Anonymous wrote:

Anonymous wrote:The term "typical assets" should be explored.

I don't know how that can happen usefully, when different schools often interpret this term in a wide range of ways.

Call the Tufts financial aid office and ask them.

Anonymous wrote:The term "typical assets" should be explored. We are a 150k household. We own our home, have some savings (but not anywhere near enough for retirement) and put some savings in a 529. Got no financial aid from an ivy this year. According to npc, thought we would get a little aid. A good friend with similar income, but with zero savings got almost full aid. They takes frequent vacations whereas we do not. They rent a high price home. Kind of frustrating that we will deplete our savings. Making sacrifices and supporting our child a choice we make, but being responsible kind of feels like punishment...

Just curious: How much in savings and how much in the 529?

Good for Tufts!

That said it will be very competitive and difficult for students that fit this income profile to get a coveted spot. I assume there will be lots of competition!

Is Tufts need aware or need blind now?

I went to grad school at Tufts a million years ago. Back then it had a reputation as being very stingy with undergraduate financial aid, presumably because it was underresourced. I could imagine that this announcement might be intended to boost application numbers (and thus rankings) as much as it is intended to enhance SES or other forms of diversity.

I don't say this out of Tufts resentment - I think it's a very strong school and a great option for kids who want a medium sized student body near a great city.

Anonymous wrote:The term "typical assets" should be explored.

I don't know how that can happen usefully, when different schools often interpret this term in a wide range of ways.

The term "typical assets" should be explored. We are a 150k household. We own our home, have some savings (but not anywhere near enough for retirement) and put some savings in a 529. Got no financial aid from an ivy this year. According to npc, thought we would get a little aid. A good friend with similar income, but with zero savings got almost full aid. They takes frequent vacations whereas we do not. They rent a high price home. Kind of frustrating that we will deplete our savings. Making sacrifices and supporting our child a choice we make, but being responsible kind of feels like punishment...

OP here - was just trying to pass along something nice. I should have realized it was like tossing meat to wolves in this forum.

Anonymous wrote:Take those fancy vacations, buy the nice car and splurge on great dinners - those who are fiscally responsible and save for college are "punished."

So many of these grand proclamations are so performative. I am very supportive of a diverse student population, including socioeconomic diversity. But I feel like these schools are going overboard with these special programs.

And if the endowment tax ends up kicking in, they might want to very quietly reverse some of them.

That's bogus. Typical assets account for some savings. We saved and were not "punished."

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Take those fancy vacations, buy the nice car and splurge on great dinners - those who are fiscally responsible and save for college are "punished."

So many of these grand proclamations are so performative. I am very supportive of a diverse student population, including socioeconomic diversity. But I feel like these schools are going overboard with these special programs.

And if the endowment tax ends up kicking in, they might want to very quietly reverse some of them.

I’m starting to feel ticked off as well as I see more & more schools do this.

If this ticks you off maybe have your kids apply to schools they can afford. They don’t need to go Tufts or schools with the same policies.

They are. Obviously! That is not the point.

It’s a philosophical question. Why should a family that earns $150k get full tuition when a similar student at $200k or $250k or even $300k does not.

And let me tell you, the difference between $150k and 250k is not very much in practical terms.

As you’re thinking about the wealth gap, with an ungodly number of millionaires and now billionaires, families that earn $150k $250k, they’re in a similar boat, and yet the $250k families are treated as if they are just as rich as the millionaires. It’s absurd.

And so I am ticked off at that. My child will not be applying to any of these schools due to the price tag. But it’s an upside down world we live in, that’s for sure.

If you truly believe the $150k family is better off, you should ask your boss for a pay cut. Obviously you won't, because we both know the $250k family is better off even if they do need to pay a bit extra for college in the unusual situation where their kids get into such a college.

NP here. My take on PP is not that the $150K family is better off than the $250K family. Of course, the $250K family is better, even if marginally. It's that the $250K family is grouped together with the $1 million family (e.g., Princeton, Tufts, etc.) while the $250K family is much closer to the $150K family financially than to the $1 million family.

Anonymous wrote:Fair enough. But I guarantee that there is a pretty steep cliff in terms of how much they give if you are above the cliff. Which was my point. I never said that those above got $0. Just that they get a lot less and it doesn't make a lot of sense.

Spend an hour on the financial aid calculators of several schools, and see how wrong you can be.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Take those fancy vacations, buy the nice car and splurge on great dinners - those who are fiscally responsible and save for college are "punished."

So many of these grand proclamations are so performative. I am very supportive of a diverse student population, including socioeconomic diversity. But I feel like these schools are going overboard with these special programs.

And if the endowment tax ends up kicking in, they might want to very quietly reverse some of them.

I’m starting to feel ticked off as well as I see more & more schools do this.

I am too. I completely understand true hardship scenarios but what benefit do people have to save money for college?

We are a middle class family, hhi just under 150k, and quite frankly i'm glad we have some money saved for college. I'd rather have funds set aside rather than have 0. What a terrible position to be in.

Nice policy. Too bad you have to attend Tufts to get it.

Anonymous wrote:

Anonymous wrote:The bottom line is that it is very binary. Below $X, free ride. A few dollars over, little or nothing. How about having more of a continuum.

I'm also not a supporter of free rides.

If your family makes 150k they guaranteed free tuition (not necessarily room and board), but they DO NOT say "a few dollars over, little or nothing" - that's your interpretation that conveniently serves your point rather than being rooted in fact or example.

Private colleges - like Tufts and others mentioned in this thread (Harvard, Princeton) - absolutely give financial aid to families making 155, 160, 170... the number just happens to be at their discretion. As a private entity they have determined a threshold they believe serves their community. You may not be a supporter of free rides, but you aren't giving the ride and they are capable of deciding how to spend their money.

Fair enough. But I guarantee that there is a pretty steep cliff in terms of how much they give if you are above the cliff. Which was my point. I never said that those above got $0. Just that they get a lot less and it doesn't make a lot of sense.

I agree that they can do whatever they want. And life is not fair. But I am allowed to complain about it. And they are going to alienate a lot of alums. They probably don't care much because these are not rich alums, but enough small donations add up, and if those alums badmouth Tufts (or wherever else) enough to their richer friends who can donate a lot, it might resonate.

So many of these pronouncements are for show. And in Tufts case, it is part of their eternal mission of trying to show that they can keep up with the big boys. Good for them that they see to have the money to support this. But it won't change who they are. Tufts is a great school but it won't ever be an Ivy. And there is nothing wrong with that so just be happy with your place in life.

Anonymous wrote:The bottom line is that it is very binary. Below $X, free ride. A few dollars over, little or nothing. How about having more of a continuum.

I'm also not a supporter of free rides.

If your family makes 150k they guaranteed free tuition (not necessarily room and board), but they DO NOT say "a few dollars over, little or nothing" - that's your interpretation that conveniently serves your point rather than being rooted in fact or example.

Private colleges - like Tufts and others mentioned in this thread (Harvard, Princeton) - absolutely give financial aid to families making 155, 160, 170... the number just happens to be at their discretion. As a private entity they have determined a threshold they believe serves their community. You may not be a supporter of free rides, but you aren't giving the ride and they are capable of deciding how to spend their money.

The bottom line is that it is very binary. Below $X, free ride. A few dollars over, little or nothing. How about having more of a continuum.

I'm also not a supporter of free rides. I think huge debt burdens are horrible (though despite being a Democrat, I thought Biden's debt forgiveness plans were awful). But a little skin in the game is not a bad thing. Some loans and work study won't kill someone.

The system was working fine. Schools had plenty of FGLI and URM representation. Putting some more aid towards those groups was a great idea. But this has gone overboard.

Meanwhile the middle class/upper middle class who can theoretically afford it but it involves some major compromises are squeezed. Cut $10k off tuition for them and it would change the math. And guess what - contrary to popular opinion that all Ivy alums are rich, the vast majority fit into this category.

I went to an Ivy and know a ton of classmates who are doing perfectly fine but cannot dream of sending their kids to our school without working until they are ancient or making other cuts. Know one should be throwing a pity party for them but I don't think this is the goal either.