I disagree with the comment that bargain hunting is more acceptable now than it used to be (whenever that mythic “used to be” was).
I had stellar classmates- back in the 1970’s- who had the stats for any or most elite school. Smartest girl in my HS class went to nursing school- not a BS program, but a regular old nursing school. She was the only girl in AP Physics that year, and one of two in AP Chem. Off the charts grades and scores. Parents of modest means. She lived at home and commuted.
This was not uncommon (although some of her friends did wonder why she didn’t want to be a “scholarship student” which was what need-based aid recipients were called back then) at one of the “Seven Sisters” colleges which had admitted her. But dozens of kids from my HS just went to the cheapest option.
Fast forward to my own kids generation- and I also know dozens of kids who did the CUNY route- living at home, taking the subway back and forth. Even well to do parents couldn’t see paying for a kid to dorm when he or she had a bedroom at home and an acceptable four year BA/BS program accessible via public transportation. EVEN in the alleged status obsessed northeast… kids go to Hunter, Queens, Brooklyn, Lehman, Baruch, City College. Many of them can afford full freight (but the parents aren’t interested) and some of them would be likely candidates for high merit aid at privates, or some need based aid at an elite.
But they’re not interested. A public U is fine. And kid can keep their HS job which is also fine.
So we are seeing a very small, tip of the iceberg phenomenon. Parents who wonder if Villanova is “worth it”. Parents who worry that UIUC won’t be as good a stepping stone to a CS career as Berkeley even though B will cost twice as much once flights from Illinois are factored in. Kids who obsess that if they take the maximum loans so they can attend their “dream school” but can’t get into an impacted major, is their life over if they major in Econ and not Electrical Engineering. Kids who don’t know what investment banking is but they know they want to go to Wharton undergrad so they can get a job doing it.
Small, small number of people. A neighbor of mine is deliriously happy- her kid went to the local non-flagship state U branch and lived at home. Got a good job in industrial sales and just finished the training program and is now deciding which location and division he wants for his first posting.
Company is a Fortune 100, solid, profitable, well managed corporation. The kid has a lot of grit and focus- which surely helped him land the job, but it’s not a campus where the company recruits, and its not the kind of job which kids from his college typically get (good place for a teaching degree) but he’s off to the races.
Prestige? Elite? Don’t care, never did.