<p>Calmom,</p>
<p>I think you are being unduly harsh on Bruce Poch and Pomona College. Notwithstanding that the ED/EA plans have tangible and intangible benefits to those more affluent families, Pomona is certainly more fair-minded and generous than the many other schools. Having done a considerable amount of research on Pomonas admissions options and financial aid disposition, I happen to agree with Bruce Pochs remarks, and it is certainly far from b.s.</p>
<p>The scenario you pose about California residents/homeowners is a common one. Its true that many here in the state have had the good fortune of seeing their homes appreciate in value, although not all have necessarily seen their income levels rise as precipitously in order to be able to feasibly tap into the built-up equity AND also quality/make payments on equity loans. </p>
<p>Unlike most private schools, Pomona College is a part of the 568 Presidents Group that has adopted a Consensus Methodology that provides some relief from the above scenario. The 568 group is comprised of some of the nations best private colleges, including 6 of the 8 Ivy League Schools. (Notably, Harvard and Princeton are not part of the group, but thats because they have such large endowments that they can actually be even MORE generous with their financial aid than any of the 568 group institutions.) One aspect of the Consensus Methodology places a cap on personal home equity based on income level. Thus a student whose family has resided in a home they have owned for years (and presumably whose equity has increased) but have a limited income will not be harshly penalized for this dilemma. </p>
<p>Though my daughter chose to attend another school (also a 568 group school), we looked carefully at the financial aid packages that were usually offered at Pomona. I was very comfortable that Pomona could be very generous, as they had demonstrated this in creditable fashion. It helps that they have accumulated a relatively large endowment, especially given the size of the student enrollment. </p>
<p>Its unfair to Bruce Poch and Pomona to make generalizations lumping them in with other schools who do not strive to identify and fix inequities where they can. Financial aid is far from a perfect process, much like the situation with admissions, but credit should be given to those schools that recognize and are working toward its improvement. Ultimately, colleges such as Pomona will prove their merit by working individually with students to assure adequate financial aid based on demonstrated financial need. </p>
<p>Reference: The 568 Presidents Group: <a href="http://568group.org/about/index.html%5B/url%5D">http://568group.org/about/index.html</a></p>