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<p>Depending on how far back you want to go…in the early 70’s, Cal tuition/fees were $600 per year ($636 if you count the athletic fees, which earned your a football pass) and R&B was <$7k. Throw in some books and travel, and COA was well below $10k all-in.</p>
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<p>On what do you base your assumption, unless you believe that low “net worth makes a good student”?</p>
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<p>Perhaps a lot of high “caliber” students don’t even apply because of that number alone. (Just speculation, of course.)</p>