<p>My son had tears in his eyes when he learn he was admitted, then we received the financial aid awarded and we were both in tears. The formula they use to determine need-aid does not match the FAFSA. Resulting in a much lower aid award then any other school. So the question is, is UPenn really worth 57,000 year?</p>
<p>Like most questions, “it depends”. It depends on what your other options are. It depends how much money you make. It depends how much you value education.</p>
<p>My family is several times past the “no need-based aid” threshold. However, I am seriously considering going to state flagship, in part because I feel like boycotting/protesting the absurd cost of private schools - in particular, I don’t feel that it’s morally acceptable that the main reason private schools cost so much is that for every person like me who pays full freight there are people who get to go for free or close to it (on my dime). Okay, to some degree I support giving the less fortunate a leg-up, but how the heck is anyone entitled to a $250k education? </p>
<p>Finally, just because you CAN afford it doesn’t mean it’s WORTH IT.</p>
<p>I personally don’t think any undergrad education is worth over 50,000. If you are planning on attending grad school, save the money for that. After all, grad school matters more than undergrad anyways</p>
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<p>No one is entitled to it. No more entitled to it than you are for being born into a family that can afford a $250k education.</p>
<p>I’m stuck in the middle, I don’t earn enough to retire and pay for my sons college but too much receive any aid. It’s my dime too and I get nothing for it. But this is not a class war fare! I’m just asking is a degree from UPenn worth 57,000 and I personally think it’s not.</p>
<p>^Many others share you opinion, and will be sending their kids to the state flagship or other great, cheaper options. It depends on your kid (I personally don’t think I’d thrive at a big, sports-oriented school, and I’m lucky enough that finances aren’t an issue), but many will do well at their state school or at privates that offered merit aid by finding a group of like-minded peers. After all, if you’re not the only one who doesn’t think $57k/yr is worth it, their kids are also going to be at the state schools, etc.</p>
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You seem to misunderstand need-blind/full-need policies. Endowment is the primary reason that people get to go on large financial aid packages, and it’s ultimately what makes the system sustainable. Successful students will go on, make money, and then donate–in some cases, more than they and their peers saved with financial aid. By admitting people regardless of need, elite institutions can ignore parents’ current socioeconomic situations to profit off of their students’ futures. Harvard’s $1.6 billion in aid this year was hardly the “dime” of full-pay students.</p>
<p>Thank you! Well said.</p>
<p>@notanengineer</p>
<p>ok, that’s a fair point. I totally see it as the schools’ rights to award need-based aid. </p>
<p>By the way, I’m curious how much money the government contributes to grants for need-based aid? Does almost all of ivy need-based aid come from the endowments? If that’s the case, I can’t say I have any moral objection to that</p>
<p>I don’t think any school is worth that amount of money, but obviously there are people out there who do.</p>
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<p>The maximum Pell grant is $5,550.</p>
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<p>Pretty sure you’re off by a factor of 10 there.</p>
<p>Do you think your son is worth it?</p>
<p>“people who get to go for free or close to it (on my dime)”</p>
<p>None of you tuition dimes support any other students. Like those on financial aid, your tuition is supplemented by endowment earnings. E.g., the Reed tuition list price covers 72% of the cost of education.</p>
<p>“Do you think your son is worth it?”</p>
<p>Totally unfair question, we all think our kids are worth it but to what expense!
As a parent who has given up many things to support my child’s education and activities, I can not and will not sacrifice my future on the bases that an education from an one school is superior any other. Some parents have to ask them selves am I worth it. We as parents have to think about our future, with the economy the way it is we need to secure our own retirement. For those of you who have money, good for you then your kid is worth it!</p>
<p>@dd1993: Yeah, I don’t know why I was thinking $1.6 billion. In any case, $160 million is more than what the full-pay students (40% of the ~1,600) are paying. Full-pay students pay for the cost of their education, which goes up each year. Their money isn’t significantly going toward financial aid for their peers.</p>
<p>I can’t claim for every school, but full-pay students generally DON’T pay the full cost of their education, as in post #14, so NONE of their money goes to financial aid of their peers. If there’s an exception I’d like to know about it so that I stop posting in error! :)</p>
<p>To the OP, </p>
<p>If you want help running the numbers, here is a nifty calculator from our friends at FinAid.org
[FinAid</a> | Calculators | Advanced Award Letter Comparison Tool](<a href=“Your Guide for College Financial Aid - Finaid”>Your Guide for College Financial Aid - Finaid)</p>
<p>And no, I don’t think it is worth it for us or our children to get ourselves up past our eyeballs in debt for a college education. Happykid is at our local community college because it is what we can afford out of pocket. With that amount each year, plus Stafford loans for her and some parent loans for us we can cover the costs of two years for her to finish her degree at one of our in-state public Us. If we keep paying down the loans at the equivalent of a year’s worth of CC tuition and fees each year, we can have all of her loans (and ours) paid off about six years after she graduates. None of us will have to strangle ourselves to make her education possible.</p>
<p>Education is one of the most valuable things anyone can obtain. As important as your retirement and quality of living are, NYgella–and I’m not trying to correct your parenting viewpoint in the least–I believe that parents should make their kids their #1 priority. The sheer amount of time and money my parents sacrificed for me has made me realize this. </p>
<p>“For those of you who have money, good for you then your kid is worth it!” Your financial situation shouldn’t determine your child’s worth. </p>
<p>But believe me, I understand your situation. It’s not easy either way you go. As a solution, you could try to obtain some scholarships. A simple Google search will provide you with countless opportunities solely based on your son’s high school GPA and test scores. On top of that, universities aren’t as stubborn as they seem. After a year at UPenn, your son could apply for financial aid again.</p>
<p>“Do you think your son is worth it?”</p>
<p>Well, that’s the wrong question. I could think that my child is worth billions, but that doesn’t mean I should spend $100 on his lollipop when I can get an excellent lollipop for 50 cents. If you think that a seller is overcharging for his product, that is a problem regardless of who’s getting the product.</p>