I must say I am wary of accepting these calculations. I know too many people at leadings companies who are making far, far less than people are quoting here and they have graduated from MIT, CalTech, Harvard and Columbia. Friends of my father also have kids who landed great jobs, only to lose them during the next recession. This is really true in California/Silicon Valley.
I don’t want to be pessimistic, but as my father and brother are Harvard grads, I can attest to the fact that most of their classmates make far less than $250,000 a year–and they’ve been out 10 years. There simply aren’t that many very high paying jobs out there.
@klingon97, not sure what your point is, but if you’re really feeling that bleak about the future, all the more reason to go where the merit money is, which is the purpose of this thread.
Also, one doesn’t need to make $250,000 a year to live a good life, for crying out loud!
@momofsmartdancer, I hope my DD has some ideas in this area. Basically she doesn’t want to think about which major and what colleges yet. We visited many universities, local ones, CSUs, UCs, Ivies, she has no preferences and not research on tuition and acceptance rates yet. However, I know she will prefer and may only consider schools with a good name recognition because of relatives. Although my husband and I have completed college degrees in this country, she is actually the first generation who was born here. Most of our relatives (here and in other countries) only heard of Ivies and UCs. I hope she tries and considers LAC or religious schools for good merit aides (it will help a lot!), but I don’t know how to help her connect the dots.
@RayznHELL , OU is so generous! Although I might not able to convince my DD’18 to consider Midwest schools, my DD’20 is interested in my school KU (University of Kansas) because of its basketball team. I need to know more schools that offer good merit scholarship, but first, I have to make sure my DD’18 can be qualified for National Merit Finalist. She needs to prepare PSAT this summer if she wants to open doors for merit scholarships…
@jjkmom Actually, the best way to connect the dots re: merit is to have “the money talk” before apps go out, I believe. Let her know what is comfortably affordable. Identify some financial safeties that she likes. Really likes. Then let her, with your help, find other reachier schools with competitive merit.
Thank you @2muchquan and @Booajo… I will remember to talk to my DD’18 next summer when we starting to prepare for college applications… Can’t believe how fast time flies…
@LucieTheLakie Puzzled by your post. Klingon97 wasn’t saying that at all. He also wasn’t bleak but was speaking from experience. Not certain why you decided to take issue with some very legitimate comments.
@RayznHELL A growing number of LACS also have discontinued merit aid, especially LACS that pledge to meet the full demonstrated need of students and that are “need blind”. They are diverting their available resources to meeting the need of these students.
^Not sure these LACs are on the ‘automatic’ merit list. I’ve read of Grinnell doing this, for one. I suspect Kenyon too, from threads this year. Not sure about that one though.
My son has great luck with merit aid in the Midwest. He is from MA, but scored 4 year renewable merit offers from Kenyon, Macalester, and Grinnell. Of those schools, he liked Grinnell the best and he was fortunate enough to land a Trustee academic Scholarship. If all goes well next week at the Accepted Students Program, he will likely join the Class of 2020.
Thanks to all posters, this thread was helpful to our research.
On LACs and merit aid: Franklin & Marshall switched to a financial aid only/no merit model a few years ago. NESCAC does not give merit, and that includes Hamilton, now that it is a member of NESCAC. Vassar is financial aid only, I believe, though someone should confirm. Bard and perhaps Sarah Lawrence seem to require financial need in order to award merit, it is a kind of hybrid model without straight, non-need based merit.
LACs still giving generous merit include: Denison, Dickinson, Kalamazoo, Earlham, Lawrence University, St Lawrence, Knox College, Beloit, College of Wooster.
Kenyon, Grinnell and Oberlin use merit much more sparingly. Skidmore has some competitive merit awards, with essays etc.