<p>KY, the 6% is of all American families, of which there are about 100 million, meaning 6 million could pay full tuition. There are that many households that have at least a $1 million of investable assets. So, it’s not surprising that many highly qualified applicants to the most selective schools, who could be FP and a legacy/hook, get rejected. Read the other threads; the competition for 14% admit rate schools is absolutely brutal. So, it boils down to the mantra everybody says on CC: cast the wide net (to less selective schools), and love the school that loves you – OR – go big or go home, meaning you have an acceptable back-up locally. Getting hopes wrapped around BS is not wrong so long as it’s done with foreknowledge and the ability to acquire perspective, both for parent and child. Sometimes, it’s a matter of applying for tenth or eleventh grades. The NY Times article from 2008 I’ve taken stats from quotes Exeter DOA Michael Gary as saying that boarding school is a “luxury”. Well, yes, very wealthy families are over-represented at these schools. I like SAS in part because Mr. Roach addresses this head on with the kids and they really seem to respond to the school’s messaging. Many posters have expressed gratitude for the journey of their FA applications; knowing the long odds, they still thought it was worth trying, if only for the lessons learned along the way. Taking the time to read these threads, expressing so many varied experiences, is just something these couple years, for me, have to be about, another chapter in my life. Good luck with your decisions on how to proceed!</p>