<p>I agree with most of what the other posters are saying, especially hmom5. There were just one or two things I wanted to point out:</p>
<p><quote>As a corollary to 1)., if you get accepted to two colleges, one more elite and the other less elite, only go to the less elite one if you have a real, strong reason to (eg., the less elite one is giving you a free ride).</quote></p>
<p>Would “I’d be much happier there” be a “strong” enough reason? I will be the first to admit that some of the contacts you make at top-tier schools can help you, but it’s not like you’re going to end up living in a ditch if you go to a school you love over, say, Yale. My personal feeling is that you’ll do best in a school that you like the most. Excelling in a slightly lower school is still going to give you success as long as you work hard for it.</p>
<p>Also - you also said that a top-tier college is cheaper - I know you quoted Harvard, but I’d just like to point out that your example was HARVARD. They have a $50 billion endowment. With the exception of Princeton and Yale, financial aid policies like theirs are highly unusual, even for other top colleges (like the Ivies). Generally, a good student is going to get more money at a lower-tier school because they are applicable for merit money as well as aid.</p>