That last bit is the important part – colleges determine what they feel the student needs, which is not necessarily the same as what the student and family feel that they need.
Encouraging variolation, but not actually saying so?
Yes, but still, most families at “full need/no loan” colleges do not pay full COA.
The net result of this is that tuition increases at those institutions are only passed on to full pay families, unless the institution also adjusts its financial aid formula (which, of course, it would be entirely within its prerogative to do).
The whole football thing has me shaking my head. Anyone really think there is going to be fans in the stadium?? Nah.
I believe Bowdoin meets full need without loans. 50 percent are still full pay. I remember looking at this when S19 was looking at colleges and all of the meets full need without loans schools had a similar percentage of full pay families.
I thought I read Texas governor approved for 50% stadium occupancy. I’m guessing they will do that, I keep thinking they will backtrack but then the numbers keep getting worse and we just open more. Honestly, I think 50% outdoors seems reasonable, but you won’t catch me out there.
Full pay families are also subsidized. You just don’t see it because it’s happening behind the scenes. There’s been lots of talk lately about reviewing need blind and meets need policies. What the revenue stream looks like this fall will have an impact on those discussions.
I’ve not looked at those numbers in detail (I was more interested in NPC output as to what we would pay;), but it’s about 40% full pay at MIT (income >$200K+). And about 30% attend tuition-free (income <$90K) or better (up to full ride for income <$60K).
https://sfs.mit.edu/undergraduate-students/the-cost-of-attendance/making-mit-affordable
If intentional, it would seem inexcusably irresponsible.
Middlebury has announced that they are inviting students back to campus. My son filled me in on some of the details posted on his social media
Testing and quarantine upon arrival
Students must remain on campus
Masks indoors
Yale could safely seat their fans w/o issue. I believe that average game attendance is approximately 5K and the Bowl seats 64K, much to the dismay of the those loyal 5K.
But no, I do not believe we will see fall sports.
Everyone quarantined separately?
That is correct. Most elite private colleges spend more per student than full tuition.
@shuttlebus did he say how the kids will be quarantined? and for how long?
"I’m not an economist, and only know what I read. I’m assuming you’ve seen the following:
https://today.duke.edu/2020/05/president-price-announces-new-steps-secure-dukes-financial-future
I can understand if you disagree with last couple of paragraphs in second link."
Thanks. Note: these are old articles written in April and May. Things have changed a lot in the last 5 - 8 weeks and as I have mentioned all of these colleges are on a fiscal year end (July 1, 2019 - June 30, 2020). I just don’t see how their endowment gains for the fiscal year will be negative, but again I will be the first to admit it once we get the audited financials in October.
Looks like Vermont has a quarantine rule. Guessing that’s why Midd is currently saying students would have to quarantine. I wonder if the students have been told that can change if the state’s rule changes.
https://www.healthvermont.gov/response/coronavirus-covid-19/traveling-vermont
Wow this would be nice. I am being sincere, not sarcastic, to say that is lovely, but unlikely.
Maybe in wealthy schools! In rank and file schools, layoffs, pay cuts, and furloughs are rampant, and class sizes are being increased. I have heard of schools where instructors are told they and students will be responsible for sanitizing before and after class. Workloads are increasing because of running simultaneous f2f and remote classes. I would LOVE to live in a world pay was increased to account for the extra work, but the reality is we are all going to work harder, mostly for less money, and just hope we keep our jobs.
I am just hoping it’s just for this one year. Wish I could afford to retire.
So our family has a whole bunch of plans on the table re next year. One plan is for us pArents to move out into my parents’ place, and my D turn my house into a free mini-dorm with her friends. That would save me about $10k in room fees for the year (have to pay for food regardless). Anyway, her friends aren’t that interested because they receive financial aid, such that it would end up costing them more to stay at my place because they have to buy food. Food is expensive.
(Not sure if I’ve posted this before because I’ve started to type but deleted it a bunch of times, so sorry if it’s redundant!)
@melvin123 That’s such a nice offer! I hope it works out and your D finds someone to move in! I agree that finances are complicating things a bit for some. While some of the full pay parents and students are considering a gap year or, at least, moving off campus as a new plan, kids getting a lot of aid are more likely to go back to campus. I have a friend whose daughter had two planned roommates for fall. One just decided she’s taking a gap year. The other will still want to live on campus because she got big merit. My friend’s D wants to get out of housing and find an apartment. These three were super tight last year but, because they have such different situations, they won’t live together next year. It’s so disappointing. They were SO excited to get a great triple room and, now, who knows if they’ll even stay friends since they may not see each other much next year.
Yes, the headline tuition and cost of attendance get the attention. However, changes in colleges’ financial aid formulae are commonly unannounced (unless it is in the more generous direction in a way that can generate favorable press), because it is hard to compare with the past. At best, some diligent person would be running net price calculators for various scenarios at various colleges every year to see what net prices look like for the same scenarios year after year. There is NCES average net price information, but for income ranges that are probably not specific enough to be that useful to an individual student or family. Policy changes like whether the college requires non-custodial parent finances (and how easily it grants waivers), how it treats business/farm/rental deductions, how much student contribution it expects, etc. can also effectively change its financial aid generosity, even within the “meet full need [without loans]” headline.