We did set up the kids’ 529s when they were born, and funded them as much as we were able, but they didn’t grow as much as that.
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Same here. Clearly we picked the wrong 529.
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We did this too (started them at birth).
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@socalmom007 - wait. i’m trying to figure out what you said - do you mean your EFC isn’t zero?
I remember the first time our oldest was looking at schools, and the shock of how much it all was. We are definitely that sandwich family like @Gatormama ; make too much for great aid, but can’t afford our EFC because we have 4 kids. If we had one . . maybe so, although we’d still be in shock over that price. anyway - going the merit route here for our #4.
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I said that backwards, will edit. Our EFC is full boat, our need based aide is zero. We do not qualify for a dollar even with multiple kids in college at the same time.
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Sandwich family here also - piecing together 529 savings, “merit” aid, and cashflow. Grateful to this community to helping our D23 still get a great college education and traditional experience even on a smaller budget. Info is power!
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There are definitely plenty of full pay families who do not even apply for financial aid nor care about merit. However, there are also ED families who are on the other end: they know they will have EFC 0 or EFC low enough that they will be able to afford meets full need colleges, so can apply ED without worry. It is definitely the middle group that is hurt most by ED.
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have a sibling who would be full pay if they had kids. we’ve asked my sibling NOT to talk about dream colleges to my kid. in sibling’s neck of the woods - everyone is well off; high house values, and lots of money flowing. it’s common to talk about where a kid wants to go to school, where kid will apply, dream schools, etc. But for our D23 - it can’t happen. we are tapped out. i wish my kid and her aunt could talk about those things, but we’ve asked sibling not to bring it up. my D23 can talk a good talk, but knows it’s all unrealistic. ** not complaining. we are happy with her options.
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I wish I could effectively explain to the older generation of relatives (my aunts and uncles, my husband’s parents) why S23 is not applying to T10 dream schools. They just don’t get it. “Isn’t he a good student?”
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Exactly.
That supports my point that ED is a game if one is wealthy enough to pay in full.
It’s a great fortune to have the opportunity.
We also have to compare merit offers.
I attended a public university, and many of my professors attended Ivy Colleges. My spouse’s mentors in grad school attended Harvard, but Harvard or even Yale would never have hired them.
If numerous former Ivy Leaguers teach at non-Ivy schools, I’m not sure how there can be snobbery against those other schools…
With this college business, we are paying for brands.
And what I’m about to say may really shock the snobs on that other college board:
A kid isn’t special by getting into the Ivy League.
A kid I met got into Stanford, couldn’t afford it even at 50% off and went to a top 100 public instead. So, a wealthy kid most likely took that spot.
Many of my clients attended Ivy League schools and don’t care that I attended a public so it doesn’t matter. Maybe to parents, it does. The bragging rights may be attractive at cocktail parties. 
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Nope. They are not generous with aid.
The top schools give none to anyone but very low income. As in my family would qualify for zero dollars but we also can’t pay in full.
So, the only kids who can go are not the smartest but the ones wealthy enough to pay in full or poor enough to receive aid.
These schools will have few to none from the middle class.
Full pay families are paying for the lower income to attend basically.
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That had not been my experience or observation based on my sons friend group at his Ivy. He lived in a house that was accross the board in terms of socio economic status with kids who were full pay, partial pay and full ride. I would confirm what you are saying with specific schools.
Sorry you feel that way in advance of your kid applying. You should spend time on an Ivy campus it might change your mind.
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We have TE also, but I am not looking at it as if my kid will have her choice of schools. Even with her super high stats. Many TE only offer to less than 10%. So we have struggled with her list. There are several admissions safeties that may not be an option if she doesn’t get a Tuition exchange scholarship that they may give to 3 kids. Also, she isn’t even considering the tiny university my husband teaches at 
.
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Omg. This.
We were at a family event and this woman just kept naming extremely expensive schools and asking 23 about them. We probably won’t see the woman again or I would privately ask her to stop.
Then people started in with the top public option for that state that gives no merit as though we could plunk down $320,000 for that. 
Next time, I will just down more wine.
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I would just suggest that everyone run the NPC at all schools and not base their decisions on generalities. I easily make over the median household income for the US (single income) and we received extremely generous financial aid from my daughter’s college (I don’t know where it exactly ranks, since the USNWR rankings were never very interesting to me, but people go “oh!” when I say where she is going). I ran the NPC on Harvard when someone we know got in and it would have been even less for us (less than I paid for day care back in the day). In no way do I consider our family poor or low income. I get it if you have multiple children and heavy expenses and can’t or don’t want to afford your EFC. However, for anyone who has a clear first choice & runs an NPC and is willing to afford the number ED can be a great thing - not only the boost in acceptance, but the relief of knowing you are all set with your first choice in December. It was a huge relief for my D and took a lot of stress out of her senior year.
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that is my tried and true strategy in such situations 
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When people suggest expensive colleges I thank them in advance for their donation to his education fund. 
I may qualify for the loan forgiveness. I dont make a ton. And my husbands business isnt lucrative either.
I only know of a few colleges my sons friends are applying to because I talk to the moms.
I know the ones first choice is Northwestern. We arent in the same tax bracket.
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This is good advice.
I did and it said we would get zero dollars. This is what happens when a donut hole family.
I see others here are in the same boat.
It’s not the worst thing and the situation will have little impact and then not matter at all in 20 years.
Worth remembering: With the exception of a very few specific fields (e.g., investment banking), the prestigiosity/USNWR-type ranking of an undergraduate degree is utterly unimportant.
A lot of the discussion around high-prestige colleges is, ultimately, sound and fury signifying nothing.
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