<p>This statistic is scewed like crazy. "Average" college goer? Let us not forget that likely 50-70% of people go to Community College, so that instantly ****'s up that statistic. Only the top 10% of applicants even go to a noteworthy top 300 college, so obviously then its scewed.</p>
<p>I read that Swarthmore spends $60,000 per student every year. So tuition definitely doesn't cover it. What gives? (actually, who gives?)</p>
<p><a href="actually,%20who%20gives?">quote</a>
[/quote]
</p>
<p>My sentiments too! I just don't know how they manage.</p>
<p>Danalynne: Have you misread the quote?
[quote]
Fewer than 10 percent even attend colleges with tuition and fees higher than $30,000...
[/quote]
I take that to mean Regardless of financial/merit aid fewer than 10% attend schools where the LIST price is higher than $30K.</p>
<p>
[quote]
If you look at the statistics from the top 30 lac's approx 46 to 55% of the entering class of 2010 and 2011 get some financial aid. That leaves approximately 50% of us paying $50,000 in room,board,tuition,books, travel, computers and other incidentals. Only 10% paying full coverage my patoooty.
[/quote]
I think it's 10% of the total college population - not of the kids at the expensive schools.</p>
<p>Running some Very quick and dirty numbers, I think there might be about 722,964 kids ages 18-24 in the top 2% of the population (the very wealthy). I wonder how that compares to the capacity of the "expensive" schools.</p>
<p>
[quote]
That increase in private school tuition isn't affecting very many people. No wonder it just keeps going and going up.
[/quote]
</p>
<p>Exactly. It's mind-boggling to think that, despite the astronomical increases in tuition, you have some schools turning away anywhere from 50 to around 90% of their applicants. Most kids just figure that they'll take out loans to pay for it, and don't give much thought that in four years they'll emerge from school at age 21 with the equivalent of a home mortgage.</p>
<p>and this deck of cards will also collapse! It is so sad.</p>
<p>^ I don't know about that. With the enormous redistribution of wealth going on in this country the richest have more money than ever to spend on college.</p>
<p>My S is at a top college that charges top dollar. We are paying this ourselves, no help from FA.</p>
<p>I'm thrilled that he is attending this school, and in my mind the education and the experiences he is getting are definitely worth the "retail" price.</p>
<p>Nevertheless -- I sure wish I didn't have to pay full freight. I keep thinking there's some scheme somewhere that I don't know about.</p>
<p>Weenie,</p>
<p>Many of the richest people in the town I live in have elected to send their kids to state publics. Included in that list is an heir to the Wal-Mart fortune; state U gave him a spot on the basketball team! Others are the children of very affluent orthopedic surgeons with an eye on medical school; the parents know that going to flagship public will not keep junior out of medical school, and they would prefer to spend their money on medical school tuition. </p>
<p>As for the outstanding students, most of those I know whose families are not eligible for need-based aid (but are not "wealthy" in any realistic sense) have gone looking for merit-based scholarships at good schools. Many have been very successful, landing full and half tuition scholarships to top non-Ivy schools. In addition, one went to West Point, one joined ROTC. (I'm speaking of my son's friends, last year's hs graduates.)</p>
<p>At least here in one spot in the midwest, top schools are coming close to the point of holding little appeal to the upper middle-class without inherited money in the bank, and even the really well-to-do in some cases.</p>
<p>weenie, I mean that the middle class and poor kids taking out all of these loans, will find that they cannot pay them back, and they have to. I guess they won't be able to buy a home, etc. Many of these kids will be too stretched, and won't be able to keep up with their debts.</p>
<p>There will absolutely always be plenty of wealthy students to fill seats at 50k, 70k, whatever.</p>
<p>My son attends UCLA and we paid $24K per year. Most of his friends do not qualify for aid either in UCB or UCSD besides loan. His HS is one of the top school in IUSD and if you look at the graduation information stat you will realize only a hand full receive merit aid with "walk on water" stat. What make me mad is we give assistance to illegal immigrant and foreign students instead helping the taxpayer first. Sometime those U administrator needs to wake up to help this country first before being so generous to others. We have 2nd son next year luckily he is National Merit Semifinalist. Hopefully he will make Finalist, or else we will have to start borrow. We watch our budget; set money aside for their educations with decent return on UTMA accounts and bonds years ago. However those funds are only enough for 2 years in the UC system. So, PLEASE nobody lecture us the middle class, we are being squeeze constantly. The article is faked, so many posted like this and none mention the citation source. Just like the credit industry want us to believe, majority of US consumer have more then $10K credit card debt which many financial advisor web site and morning star dispute the claim. Many student aid so call expert web site say majority of the FAFSA were filed in error were equally un-truth. DONT believe this so call expert, do your own research.</p>
<p>I have seen stats where schools note that some percentage such as 85% of students are receiving financial aid. etc. I keep thinking of an old saying among accountants: "Liars figure, and figures lie."</p>
<p>I wonder if this includes all of the grad students who pay nothing or are given fellowships for teaching. I wonder if this figure includes loans, work study etc. Thus, if you discount all grad students, all loans, all athletic scholarships, a small, relatively immaterial scholarship etc.I wonder what percentage of parents are paying full tuition or close to it? I would bet it is closer to 50% or more!</p>
<p>In addition, we see some stats that it costs a school more to educate a student than in tuition. Again, I wonder if this total cost includes research costs, research scholarships and other scholarships, building additions,which should be depreciated or amortized etc. Again, Liars figure, and figures lie.</p>
<p>Yep. If we only knew what the bottom line was before applying....At least that school's financial aid officer leveled with me when I called. It saved me a trip, a hotel bill, and getting my son excited about a school that I could not send him to. It probably also saved us an unneccessary application. I appreciate the frankness, but I had to call to find out what I can expect financially.</p>
<p>There was another thread that pointed out that if you look at the College Results website about federal statistics on various colleges, </p>
<p><a href="http://www.collegeresults.org/search_basic.aspx%5B/url%5D">http://www.collegeresults.org/search_basic.aspx</a> </p>
<p>you'll find that some colleges have spending per student that EXCEEDS list price--meaning every student is getting more value than what the student is paying for-- </p>
<p>(scroll horizontally to the right to see the spending figures, and please let me know if the link displays correctly) </p>
<p>while some other colleges spend less per student than list price for tuition. </p>
<p>Strong endowments empower a college to offer exceptional value.</p>
<p>Our part of D's projected college costs, she started a couple of years ago, are more than what we have spent in our lifetime on all of our cars, vacations, and house.</p>
<p>taxguy wrote:
"In addition, we see some stats that it costs a school more to educate a student than in tuition. Again, I wonder if this total cost includes research costs, research scholarships and other scholarships, building additions,which should be depreciated or amortized etc. Again, Liars figure, and figures lie."</p>
<p>I am a researcher at an ivy league medical school and I can tell you that the cost of doing research does not affect tuition. We are all grant based employees. When the grants dry up our jobs vanish. Every year when I get my appointment letter it clearly states that the position is contingent on the availability of grant funds. Luckily I have funding for the next two years before I have to panic.</p>
<p>I have friends that work at other colleges and their kids receive a tuition reduction. When I called the human resources office to ask about this benefit I was told "Ivies don't do that". I have colleagues willing to pay the full price for the children to attend. My kids know this school is not a possiblity because of the cost.</p>
<p>Tokenadult--</p>
<p>That site is a real eye-opener. Look at some lower Tier 2 LAC's, and your same $45,000 is being spent a LOT differently.</p>
<p>I asked on the same thread you referenced about the accuracy/composition of these figures. Anyone out there have any input?</p>
<p>
[quote]
I asked on the same thread you referenced about the accuracy/composition of these figures. Anyone out there have any input?
[/quote]
</p>
<p>Those are figures gathered under a federal statutory mandate, so any serious fudging of the figures is probably some kind of criminal offense. There is doubtless some definitional play in the joints as to what spending category a college's spending goes into, but some of the differences in degree of spending between colleges are very real. Precisely because these figures are available to the public, colleges have incentive to squawk and point out errors if other colleges are fudging the figures.</p>