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It is disappointing how few people realize the cost of attending college, and most families who make >$150k will never know how much other people pay to attend
by chrisBob 12y ago
It is disappointing how few people realize the cost of attending college, and most families who make >$150k will never know how much other people pay to attend school. The financial aid system is actually very good at most schools. Two examples:
1) I currently attend Boston University (as a grad student), and a good domestic undergrad gets a nice aid package. For families that make $40k-$80k/yr the middle 50% of aid packages ranges up to $56k per year against a $60k room and board cost.
2) The horrible Ivy Leagues are often even better. When my wife attended admission was need blind, and then after filling out your FASA the school gave the students a grant to cover the part of the cost that is supposed to be covered by student loans. Do you have two kids that are within 1-2 years of each other? The additional cost of sending a second kid can be as low as $0/year because the total contribution that the parents can afford doesn't change just because you have two kids.
One key to this article that is easy to glance over is that the target market is mostly foreign students. They do not get the same aid packages and end up paying full price at most schools.