If they are giving 100% tuition to all families making under $180k a year, how do they justify charging ANYONE full price?
Sorry, it is more than redistribution of wealth, it is price-gouging. The richest institutions pay more in management fees for their endowments than they do in direct aid. The richest institutions should lower their tuition rates. Period. It is unconscionable.
In that scenario, where Princeton at full price costs LESS than say, Colgate or Bucknell or Norte Dame or any of hundreds of small, private schools of decent status, they would be forced to think twice before building a rock wall or aquatic center. And don’t even start with the “where is that?” Schools, which also charge roughly the same. College tuition at ALL privates is WAY too high. Someone should try competing on PRICE, not amenities. I’m not paying the same for a Toyota as I would for a BMW. Why should college be any different?
In fact, in what other situation does a “kid” say “I’d like to purchase this product. How much does it cost?” And the answer is “That depends, how much does your Daddy make? Did he put any money into a retirement account last year? Because you know, saving for retirement is a CHOICE, and you wouldn’t expect us to pick up the cost of that, would you?” (An actual conversation with the FA officer at Cornell)… I am revolted, and we revolted. Chose a great state school. One small middle finger to the Ivies.