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Yes, but most families don't have the luxury of getting a free ride to ivies.
Honestly, why would you want to go to an Ivy for engineering? The only ivy with remotely noteworthy engineering is cornell, and even it is eclipsed by some cheaper publics (uc berkeley, georgia tech, university of illinois)
That's obviously true, but I think it actually illustrates the central point perfectly, for after all, if you're rich, you don't really care how much Harvard costs anyway.
I have to disagree here. A family that makes $200,000 certainly cares about a quarter of their income (more like 35% after taxes) of their income going down the drain, especially when they have a second kid they need to send to college in 3 years. Add that to mortgage payments on 2 houses and you're really cutting into your savings (especially when those houses are in california).