<p>Interesting article in today's WSJ:</p>
<p>April 20, 2006 </p>
<p>Saying 'No' to the Ivy League</p>
<p>Families Face Tough Choice
As Back-Up Schools Boost
Merit Aid for Top Students
By ROBERT TOMSHO
April 20, 2006; Page D1</p>
<p>Lucas Puente has been accepted at Stanford, Dartmouth and the University of Pennsylvania. But to attend any one of the prestigious universities would cost a total of about $48,000 a year, and he wouldn't qualify for need-based aid. </p>
<p>The University of Georgia, meanwhile, has offered him a Foundation Fellowship, which would cover not only his out-of-state tuition of $16,000, but also other costs. Total value of the package over four years: roughly $125,000. </p>
<p>PARENTAL ADVICE</p>
<p>Admissions professionals make these recommendations for parents of college-bound children:
Give your children the bottom line on the total amount that the family is willing to pay long before the first college application is mailed.
When looking at the cost of an undergraduate education, also consider the possible cost of a postgraduate degree.
Think about planning for your child to attend a more selective university for a postgraduate degree. "It's every student's dream to go to a school like Stanford," says Mr. Puente, 17 years old, of Wilmington, N.C. But he's leaning toward going to Georgia. "With everything they offer, no other school can really match that," he says. </p>
<p>More middle- and upper-income families are in a similar bind -- trying to assess the value of a degree from a top-tier school. Even as the price of attending an elite college approaches $50,000 a year, less-prestigious schools are offering more merit aid, making the cost differences starker. Nationwide, $7.3 billion in merit scholarships was awarded in 2003-2004, up from $1.2 billion in 1993-1994, according to the latest data available from the National Association of Student Financial Aid Administrators. And college officials say the trend is growing.</p>