My kids are not even going to apply to Pepperdine. They are high stat students and we are higher income, so we don’t get financial aid. We need a lot of merit or in-state public schools. Pepperdine is one of the worst schools for merit relative to their overall cost. A $20k or $30k merit scholarship is their absolute top amount, and that is so little when the overall cost to attend Pepperdine is right around $100k. They are no longer going to get top students from upper income families who don’t find the value in paying so much out of pocket or simply can’t afford it. I think their rankings will probably start to fall.