<p>i don't think it's REALLY illogical, it's more like a two-sided razor.. like, on one hand, he might be able to go to the school of his dreams (or her, sorry) but the school's quality in PEOPLE might be lowered at the same time due to the fact that some amazing people were turned away just because they couldn't afford it.. :(</p>
<p>You are correct. I was badgering and I apologize for it. You are empathetic toward those whose prospects are compromised by their need for FA and that is highly laudable. Do you think that if this is the case at E then it must be even more so at other schools?</p>
<p>Thanks for the apology, I hope I did not come of as too catty. </p>
<p>I think if this is the case for Exeter it is even more so the case for others.</p>
<p>If this deep freeze that the economy finds itself in is prolonged, we are gonna hear the same news from the Ivies in the next few years. This is the beginning of the end of American egalitarianism. A liberal education will be only for those who can afford it, like it was a hundred years ago. Others will unfortunately gravitate to occupational and trade schools.</p>
<p>That sucks.</p>
<p>Pan, 1/3 of the student body on financial aid is still a huge amount. It's too early to become a doomsayer.</p>
<p>but it's a 16% cut. 16% fewer perfectly qualified, good-to-go applicants, just because they couldn't pay.</p>
<p>Exeter has said before that it has always rejected perfectly qualified applicants, that's nothing new... they just don't have enough spaces for everyone. Let's remember guys, this is one of the few times in life where you can be surprised because money makes a difference; more or less everything else in life is not equal opportunity. Let's not take that for granted. These schools have to stay afloat and if that means selected more EQUALLY qualified applicants who can go full pay; so be it. </p>
<p>I feel the same as viola on this despite what I've previously said. I still think everyone should have an equal chance, and I kindof feel cheated as a full pay because it feels as though I haven't done it all on my own merit. That really feels awful since I have worked so hard, but now I'll never know if they would accept me on merit alone or if my parent's money played a role.
I hate this. I hate this because it's unfair to people in lower income families. I hate this because it will make an acceptance feel unearned. and I hate this because it's hurting everyone.</p>
<p>1/3 now, but what about when the endowment fails to show growth for several years and when giving dries up? The point is, we are moving not forward but backward. If the crown jewel of American secondary education, PEA, makes an announcement like that, it tells you that things are changing big time. The financial industry, from which much of charitable giving has originated, has been remade for good; new tax laws will not treat charity as favorably; the world economy is actually gonna contract in 09! What more do you want to see?</p>
<p>C'est la vie, unfortunately. It happens everywhere, from boarding school to college. But there is always another place, another school, another whatever, and life goes on.</p>
<p>How about we all remember basic capitalist economy. It will go back up. When? We don't know. Will it? Yes. </p>
<p>God has not cast an apocalypse on us, yet. :P</p>
<p>These schools will still be giving generous aid.</p>
<p>But kids, the world just changed dramatically!!</p>
<p>Yeah we know! We know the world has changed, hmom!</p>
<p>But none of that warrants such ridiculous pessimistic, fear-based posts--AHEM pan! All things must pass. This too shall pass. It will pass! This is when we need to stimulate the economy, not go on lock-down mode and eat ramen noodles for dinner. </p>
<p>The collective conciousness on this thread must be raised, and we all need to stay rational. The economy fluxuates, it changes--this happens! Just as there are downfalls, there are upturns.</p>
<p>Yes, the schools will continue to give aid, but I cannot blame everyone for being hit hard by the announcement from Exeter--especially with only days until M10. I understand it, I get it, I don't blame the schools... it makes sense! But that doesn't discount the hard moment. </p>
<p>It feels like some are trying to ''enlighten'' the poor, ignorant folk with their logical reasoning. We get it, we understand it, we aren't stupid--but that doesn't change the fact of the matter: this is hard news to hear, and this will affect my chances of acceptance.</p>
<p>I agree. In these times, though, the stimulus must come from those able to stimulate. The Billionaires are not willing to put money into the economy because they do not know when it will go up and not investing does not warrant any lifestyle changes.</p>
<p>The average American (this term has been used a lot, eh) cannot put a lot of money into the economy. </p>
<p>BTW many people will be glad to eat Ramen for dinner (AMEN I had ramen today :))</p>
<p>Haha! I actually had ramen today too! I think thats what made me think of it, haha.</p>
<p>I'm not saying we should all go buy our groceries from pricy Whole Foods, or go buy a big screen tv, or bring home a fresh bouquet of flowers for the dining room table. I'm saying that we should continue to spend our money, and not hoard it all to be ''safe'', because in fact being ''safe'' may be counter productive, screwing yourself in the end.</p>
<p>Viola,
That's kindof just speculation (it's very vague). I mean I'm sure some billionaires are investing, either way we don't know so lets not blame a particular income bracket. </p>
<p>Mmoyan,
Sorry if I came off as condescending, I didn't mean to "enlighten the poor" I was just trying to convey my thoughts about the whole thing- sometimes I'm not talking to anyone in particular, I was just throwing things out there. Kindof like ( OK weird comparison, but bear with me) when you have had a rough time and are complaining to Mom/friend and you repeat whatever bad thing has happened even though the other person obviously already understands. I suppose the correct word for what I was doing would be "lamenting"</p>
<p>Not sure if that made any sense >.<</p>
<p>Sorry. </p>
<p>The reason I used that was because my father works for a particularly successful startup and him and his colleagues cannot get any money. Their (ex) investors are not willing to invest at all during this time, many of them. The CEO of the startup made it big in Bain Capital and still can't convince the billionaires he knew to invest. </p>
<p>The only entity that can spend in this economy is the government and possibly some really rich people. </p>
<p>It's like a forest fire in a jungle where natural selection is ripe. All the old crud in the bottom (bad companies, un sustainable ideas) burns out while new, innovative things get planted.</p>
<p>Right now it is all about survival (not in a ritualistic sense) and being prepared to earn enough money (whilst being happy).</p>
<p>I have made a great effort to enlighten my own affluent children who live in their college bubbles. This is not just another recession. Everything will not be OK next year. Global realities have changed. This is not someone being pessimistic, just someone pointing to a new set of realities.</p>
<p>You will all still have fine educations if you are tenacious about it, no matter where you attend high school!</p>
<p>Oh I'm sorry istoleyournose, I wasn't saying it was you specifically, and I didn't mean poor in the financial sense, but more ''poor you''. But the former I suppose applies as well, haha.</p>
<p>Viola, I'm gonna have to disagree. It isn't about ''being able to spend'', because that's a given... it's about not going into lock-down mode, and like I said, eating ramen noodles everyday for diner. </p>
<p>What I'm saying is that this is the MOST important time to spend. Yes, the billionaires aren't willing to spend, but that's because at this point they aren't affected (to the extent of lifestyle change, like middle-class families) and don't feel the need. The ''average American'' is the one who is the MOST affected, and in a sense it's to save their own ass. </p>
<p>Anyways... I'm gonna start speaking beyond my means, but I think I've gotten my point across! And P.S., this is just my opinion, I'm sure there are other, just as credible ones! :D</p>
<p>Agreed hmom, about fine educations everywhere and stuff... it's all attainable withOUT prep school high school years! :D</p>
<p>I still think though, that only one ''pointing to'' is needed, and afterwards it's just an ad nauseum.</p>