<p>They seem not to realize that the financial aid of these schools make attendance more possible…</p>
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<p>Right…the girl seemed like a real good candidate for need based aid. They needed to have interviewed a kid whose parents make $200,000 a year with three younger siblings…no need based aid but hard to do $50,000+ a year out of pocket. A guy I know was going to pay for his son’s college education with his AIG stock.</p>
<p>I also thought this was a weird story because it appeared as if this girl would qualify for need based aid and that given her situation, and if she got into an Ivy League school, the pricetag would be affordable given the new standards for aid that these schools now have in place for students in her low income situation. In fact, an Ivy school may cost her less money than the alternatives.</p>
<p>It looks like the reporter didn’t do his homework. With a single parent having 0 income, Mia-Sarah would probably go to Columbia for free.</p>
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<p>Of course not. Few reporters want real facts to get in the way of a human interest story of their spin (er, I mean choosing).</p>
<p>Missypie, </p>
<p>you are so right on… everything is for the income levels of $75,000 and under… After my dad pays out $50,000 a year… there was only $48,000 left… & with 3 mouths yet to feed (dad, brother, mom) it isnt much, needless to say, they couldnt do it for me. See…we dont qualify for aid…and dad didnt like the idea of me taking on a lot of debt while paying for other to attend the same university for a lot less…</p>
<p>What a useless report! The reporter is asked something like, “She has very good grades-Don’t these places offer scholarships?” (They’re talking about Columbia-no merit scholarships!) The reporter answers that lots of people might be in the same boat going for those scholarships. How about a little bit of homework, Mr. Reporter. :rolleyes:</p>
<p>wow, that could not have been more off the mark.</p>
<p>I also like how they said, “even an ivy league school!” and zoomed in on an NYU banner. then later he said, “there are so many ivy league schools out there,” even though there are only 8.</p>
<p>Momof3sons…I caught that too…the idea about getting scholarships which are nonexistant at Ivy League schools. </p>
<p>Jarsilver…I also thought it was funny that they zoomed on a pennant from NYU that the girl had in her bedroom but then made the story all about “Ivy League” schools. NYU is expensive (I know, I have a kid who goes there), but obviously this girl liked it enough to hang a pennant and so it doesn’t seem like her only “dream” is of an Ivy. But the Ivies, ironically, give some of the best aid to students like her.</p>
<p>Talk about a reporter making news with thier title (using Ivy): Sarah has always had NYU first on her list:</p>
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<p>The recession will impact many kids’ choices this year. The schools that don’t guarantee meeting full need will most probably meet need for fewer. The full pay kid will have a huge advantage this year at most schools. And even at the ivies, which will probably see yield go down and have to go to wait lists, several do look at need for those they admit via the lists.</p>
<p>In the case of the girl profiled, her mother was in financial services in NYC for 20 odd years. This means she most probably made a good 6 figure income, even if she was support staff. And as schools are looking at her 2008 income, many like her daughter will not afford what they could have last year.</p>
<p>So while CNN didn’t get everything right, their conclusion is correct.</p>
<p>^I think they would take into consideration events such as losing a job. That’s why on the CSS and i think FAFSA there are sections for estimated 2009 income.</p>
<p>The problem is there are only so many dollars to go around. They have kids already enrolled whose needs have increased. They can’t be sympathetic to every individual case, the money just isn’t there.</p>
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<p>I disagree. With an unemployed, widowed mother of three, the girl would recieve a ~full ride at all of the Ivies. Thus, the article is anything but correct. (The mother posts that her salary was less than six figures.)</p>
<p>Not at all true. The family could have considerable assets and savings, not to mention a big life insurance pay out.</p>
<p>ok, let’s make that assumption…take $50k and divide by 5% (efc forumla), and we then assume that mom has ~$1 million in the bank. Moreover, she could move 100% of those assets out of the efc calculation by purchasing an annuity. And we are supposed to feel sorry for her? Puhleeze…</p>
<p>Here’s a question…do you think Harvard would have kicked off the latest financial aid arms race if they knew their finances would go down the tubes a mere 2 years later?</p>
<p>No, I pondered the same question, but it’s also pretty easy for them to manipulate things to keep the budget in check under any economic circumstances. So the big questions are: are they or any school truly need blind and will they or won’t they give out more aid this year?</p>
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<p>mini has posted frequently that they are not, no college is, and I’ve come to concur with his view. The ECs required, not to mention test scores and grades, for highly selective colleges are heavily skewed to the middle to upper middle class. There is a reason that private colleges have 50% full pay students year after year; some are even 70% full pay.</p>
<p>fwiw: Williams College gives an admission tip to low income students (“low ec”). How can that possibly be if they are truly need-blind? Yes, given a help to low income families may be of great societal value, but on its face, it ain’t need blind.</p>