<p>receive financial aid, and nearly 1400 whose parents make over $100,000</p>
<p>Thus belying the lament of so many that the "middle class" are shut out of Ivy educations.</p>
<p>"This year at Harvard College there were 1,299 students on scholarship whose annual family income exceeds $100,000, and 369 students with family incomes in excess of $150,000. More than 3,200 students from all classes received need-based scholarship assistance." </p>
<p>So what this means is that slightly less than 50% of Harvard students receive need-based scholarship assistance. (figuring a total enrollment of 6,650).</p>
<p>Of the 6,650, roughly:
- 3,400 (52%) had family incomes above $150,000 and received no need-based scholarship aid.
- 369 (6%) had family incomes above $150k and received need-based aid
- 1,269 (19%) had family incomes between $100k-$150 and received needbased assistance;
- About 1,600 (24%) had family incomes below $100k and received needbased assistance. </p>
<p>In 2002, the U.S. Census figured that household incomes higher than $84,017 put one in the top fifth of American families. So some four out of five Harvard students come from the top quintile, and 58% come from the top 5% (household incomes of $150,002/year or more.)</p>
<p>Make of it what you will. It's just numbers.</p>
<p>What I make of it is that private education is so incredibly expensive that not even people in the top 5% can afford the fees for more than one child without financial aid.</p>
<p>and the good thing is that it is available at the best schools</p>
<p>I am finding this information very mind boggling. hmmm we have to revise the whole school list for next year. Thanks for the link.</p>
<p>Just remember that Harvard accepts just 42% of its student population from the bottom 95% of American families economically speaking.</p>
<p>Best thing you can do to increase the admissions odds is choose your family well. (It gives new meaning to the word "reach".)</p>
<p>From Harvard website: "Beginning with the 2004-05 year, parents in families with incomes of less than $40,000 will no longer be expected to contribute to the cost of attending Harvard for their children." </p>
<p>Based on Mini's numbers, a high percentage of students (could be as high as 24% in absence of a better breakdown) could actually be attending Harvard at no cost to the parents. It's just numbers.... :)</p>
<p>nearly 400 students with parent income over $150,000</p>
<p>My high school had way more families than that which made >$150,000 (hell, there were probably about that many with incomes in excess of $1 million)
But it is true that even those with six-figure incomes can only sustain so much of a private school (university) tuition, and if they have multiple kids in college, scholarships are definitely justified.</p>
<p>or those high income types that (oops) forgot to save for their children's education because they went on expensive vacations and bought fancy cars. Now they are without the requisite savings. I actually prefer NOT knowing some of these statistics because I think the financial aid should be there for those who really need it.</p>
<p>I don't know how Harvard calculates need, but it's also possible that those high income recipients live in areas in which their "high incomes" do not go very far.</p>
<p>There are places in the country in which the cost of living has soared over the past 20 years. Middle aged parents may not be able to move to jobs elswhere nor may they wish to take their kids out of high quality public schools to move to a place that would be more affordable.</p>
<p>I do know, however, that Harvard financial aid officers do not have sympathy of high income parents who ran up huge credit card debt taking expensive vacations, buying luxury cars, etc. Such parents call each year demanding financial aid and are turned down.</p>
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<p>those high income recipients live in areas in which their "high incomes" do not go very far.</p>
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<p>Yes, and that they may have more than one child in college.</p>
<p>Bear in mind that of those families too well off to qualify for need-based scholarships, about a third (~15% of the class) still qualify for other forms of aid, such as subsidized loans and work study. So only a third of the families are actually paying the sticker price.</p>
<p>Is this need based aid in the form of grants or loans? If loans, it really doesn't qualify as "aid" as far as I'm concerend. It's like going to a car dealer and him saying that he has good news for you - he will give you a $5,000 break in the price of the car ... as long as you pay him back later. These percentages of students getting aid that the colleges tout are a bunch of hooey if they include loan "aid".</p>
<p>fundingfather, when we talk about "need-based SCHOLARSHIP aid," that means grants -- money that never needs to be paid back. That's the category that includes around 50% of Harvard students. Need-based aid which includes no grant (consisting solely of work-study and loans) is given to an additional group of roughly 15% of students.</p>
<p>The average amount of loans that Harvard students now take out over 4 years is about $9,000, which is not very much at all.</p>
<p>Nationally, most college students take out close to $20,000 in loans to pay for 4 years of college, including at third tier colleges, so paying $9,000 for a Harvard education is no big deal.</p>
<p>It is also important to remember that some of these families with incomes >$100K may have more than one child in these elite colleges. A family making $100K doesn't have much left to live on if there are 3 kids in schools costing $42K/year to attend.</p>
<p>"I don't know how Harvard calculates need, but it's also possible that those high income recipients live in areas in which their "high incomes" do not go very far."</p>
<p>If they live in most of the high cost areas that I know of, much of their income is going into mortgages at a fixed interest rate, while the values of homes are going up at 2-3X the rate of the mortgage, and that's the total value, not just that being paid out in mortgage. I should be so lucky!</p>
<p>The median household income in San Francisco is just below $50k. Half make less. I don't shed any tears for high income parents owning homes in the Bay area.</p>
<p>But what's most interesting to me about the data is not so much how much folks are paying, but who gets in.</p>
<p>It truly surprises me that kids from families with income above $150,000 would be entitled to significant need-based aid. Is there any data on how much need-based aid was given to the 369 students whose family incomes exceed $150,000? Could it be a token amount?</p>
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<p>Is there any data on how much need-based aid was given to the 369 students whose family incomes exceed $150,000? Could it be a token amount?</p>
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<p>Yes, it could be just a few thousand dollars, at least for some of the families. Unless they have quintuplets all going to college at once, or a special situation like a sibling with enormous medical costs, parents who make that much probably aren't getting a $30,000 grant.</p>
<p>I put this on a thread in the financial section but thought you might be interested in this re: Ivy League scholarship issues</p>
<p>
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This year at Harvard College there were 1,299 students on scholarship whose annual family income exceeds $100,000, and 369 students with family incomes in excess of $150,000.
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</p>
<p>This is not necessarily all need based. At my son's college, if a student receives, say, $500 from the local Elks Club for a scholarship contest, that counts as "receiving financial aid".</p>