I have one who graduated from Yale and one from Pomona. Now when people ask where my kids went, I start with my son and by the time they have figured out where/what Pomona is, and hearing about how happy he was there, etc., etc., they have forgotten all about my Dd.
But now sis has a bigger problem because she went to grad school at H. People sometimes do look at her like an alien if they know she went to both. She does think it hurts her in some social situations, so she's learned how to re-direct the conversation away from herself with a bit of finesse.
Moonchild, I also have a Yale grad and a Pomona grad. My youngest kid got into both and is going to Yale. He really did not want to stay close to home. We went from four years of Yale reaction to four years of "Huh?" about Pomona. Now it'll be another four years of the Yale reaction.
Sorry to reach back in the thread, but as a first timer, slogging through every book on college admissions in our local library, please tell me about how Yale was more affordable than UW-Madison. I am starting to get very discouraged, looking at the costs.
please tell me about how Yale was more affordable than UW-Madison
I'm not aware of UW-Madison's costs, but for me, attending UCLA or UC Berkeley (as an in-state) would cost almost 3 times as much as attending Yale will. I think the main reason (if not the only reason) for this is that Yale has such a large endowment that they can afford to meet all "demonstrated need." Yale's FA office will calculate an expected family contribution (EFC), which is what they believe your family should be able to pay towards your education; the school will cover the rest of the cost.
Most (if not all) public universities are unable to do this, simply because they don't have enough money. So unless you come from a very wealthy family, Ivy League schools like Yale often cost less than in-state public universities, even though the sticker price for Ivy Leagues are higher.
I guess I have the opposite problem of the members here. My circle of friends are so competitive about their kids that I will be really ashamed if my D ended up at Rutgers.
@Mrspepper: @314159265 is exactly right. We live in MN and while we have reciprocity with the state of WI, we would have had to pay full price at UW-Madison. Yale's endowment is so large that the financial aid is pretty incredible if you're in the income bracket that usually doesn't receive much, if any, aid.
So here is an interesting twist I was unaware of -- my daughter and son were discussing this topic last night -- the reaction people have when they ask about their college. My daughter said that it's very common for girls who went to Ivies to say the name of the state when they are first meeting a guy they might be interested in. This is because some guys will lose interest right away when they find out a girl went to an Ivy if they did not and so girls will often break the news more slowly to give the guy a little time. This is kind of sad. She showed me a youtube video (don't think I can post the link) that is pretty funny (and strong in language) where a guy and girl are on a first date and he's droning on about having gone to Wharton and how fabulous it was and being very condescending. He finally says, "Where did you go to college?" She says, "New Jersey" and he assumes Rutgers and says a few patronizing things and then she stands up and breaks into a rap called the Ivy League Hustle about how "I went to Princeton. DD said that the video, while funny, absolutely captures the experience that Ivy League girls sometimes have after graduating when they meet a guy.
Last edited by entomom; 06-18-2012 at 07:31 PM.
Reason: inappropriate language
Regarding net price of Yale vs. UW-Madison. The NCES search site College Navigator (I assume its OK to refer to a non-profit Website) has a feature for doing net-price comparisons at various income levels, thus adjusting for potential financial aid. Here is a comparison for Yale vs. UW OOS.
Net Price for full-time beginning undergraduate students who received Title IV Aid by income
Annual Income ---------UW---------Yale
$0 – $30,000----------$6,363------$6,025
$30,001 – $48,000----- $10,098-----$7,482
$48,001 – $75,000-----$15,286-----$7,818
$75,001 – $110,000----$19,482-----$10,521
$110,001 and more-----$20,442-----$29,858
Note that Yale is considerably cheaper at low-to-middle income ranges (again, for OOS students). I believe what is left at the lowest level are strictly personal expenses (travel and the like) as Yale will cover all tuition and room-board for income levels below $65K. Of course this is based on statistically aggregated data and financial aid is, at bottom, an idiosyncratic process. In other words, your mileage may vary. But well-endowed, full-need schools like Yale can be cheaper than public U's...if admission can be gained.
I believe what is left at the lowest level are strictly personal expenses (travel and the like) as Yale will cover all tuition and room-board for income levels below $65K.
Not entirely correct but close. We are in that income bracket and we did still have a small amount to pay towards tuition/room and board but it wasn't a lot. Last year it was less than $1000 and this year it will be less than $2000. My son was also responsible for all personal expenses and books. Fortunately, he has a term job to earn enough money to cover all those expenses.
"Families whose total gross income is less than $65,000 are not expected to make any financial contribution towards their child’s Yale education. 100% of the student’s total cost of attendance will be financed with a Yale Financial Aid Award.
Families earning between $65,000 and $130,000 (with typical assets) annually contribute on average 10% of their yearly income towards their child’s Yale education, on a sliding scale.
Families earning between $130,000 and $200,000 (with typical assets) annually contribute on average 15% their yearly income towards their child’s Yale education, on a sliding scale".
It's the 15% for incomes between $130,000-$200,000 that makes Yale so generous when it comes to fin aid. That translates to an EFC of $22,500/yr for families making $150,000, for instance.
"Families whose total gross income is less than $65,000 are not expected to make any financial contribution towards their child’s Yale education. 100% of the student’s total cost of attendance will be financed with a Yale Financial Aid Award.
But this statement might be misconstrued. Even though the parent doesn't have a contribution 100% of the total cost of attendance is not covered with a financial aid award. The student is expected to provide a self-help contribution ($2700-$3200) and between $1550 and $2900 summer contribution.
It seems a bit sad that after you worked so hard for 18 years and finally got into a good school, you have to hide it or feel ashamed when proded. Yet I totally understand--there is still a stigma about these schools and a lot of people still cling to those old stereotypes.
Interesting thread. The only family I know with a S at Yale, we just said "Wow" when we found out, knowing how difficult it is to get admitted. But don't you think subconscious statements like the above are part of the reason why people feel awkward? Are all those other schools that people worked hard and got into not "good"? Even community colleges can be good and serve many, many students very well. And other parents may feel that they can't or shouldn't talk about the achievements of their own kid if they will obviously pale in comparison.
