For a given “top” student, it is unlikely that all 60 of those “top” schools will be good fits (even just considering academic fit, although other factors like school environment, fraternities/sororities, etc. can matter). Also, schools which claim to “meet full need” can vary widely in how much financial aid they offer to a given family financial situation, and such a school may not necessarily be lower cost than all schools which do not make such a claim.
In addition, a “top” student by the SAT CR may not be a “top” student in other aspect (courses, grades, SAT M, essays, extracurriculars, recommendations, “level of applicant’s interest”, etc.).