| The formula for determining your EFC (expected family contribution) was developed by the federal government (Dept. of Ed.) and not by Duke, so you can't blame Duke for its results. And, while Duke does charge the big bucks tuition, it is only charging what the market will bear and what its competition charges, so, again, it is the system we have in place and not Duke. Could Duke use more of its endowment in aid to students? Maybe, I don't know how much it uses now, but the top privates, who have never had to give a lot of discount aid will likely have to follow the lead of the Ivies, who have stepped it up in that area. Even in that case, families making $120K will still be expected to pay quite a bit -- there are a lot of families out there not so fortunate.
What we really need is a system that rewards saving for college while not also cutting out any possibility of going to college for those who couldn't or didn't save. Perhaps some way of giving matching grants for every dollar saved in a special education savings plan such as a 529, while still offering loans so that those without savings aren't totally cut out? Lots of details to work out, though.
For now, though, you'll just have to do the best with the system we have. Good luck! |