I’m slightly unclear if you’re looking for intel on schools you’re already considering or if this is a last all-call for any possibilities for your family to research. If it’s the latter, I will echo the suggestions of some others in this thread, namely Skidmore (which has $20k/year merit scholarships available which would bring it to the top of your budget, I believe), U. of Rochester, and Ithaca.
@arewethereyet.24 can probably provide some colorful intel on Skidmore.
They make “the 10% promise”, meaning that you will not pay more than 10% of your family’s income toward tuition;
You can run the numbers on the cost calculator on their website and they guarantee that the number it calculates is the number you will pay. In other words, you can find out right now what the real cost will be at Whitman for your daughter. See the link below:
It is probably unlikely that more schools will be added to the list so the most helpful intel is for schools listed. I mainly posted because folks have been so generous with suggestions on this thread and everyone seems to like updates.
Here’s another one - although it’s not on your list. Colgate University, an East Coast LAC, guarantees only 10% of your income for tuition for family incomes up to $300,000. See the Colgate Commitment details linked below:
Yes, Colgate taking into account home equity (vs. Whitman not considering home equity at all) can drive it up. Colgate’s numbers came back about $15k more than Whitman’s for our income when I ran the calculator. Whitman broke it down into academic and needs based amounts, so that could also play into it. I ran the numbers though and it was just 10 percent of our income for tuition costs plus housing, etc. all added in on top for the final number. With the way Colgate handled assets, taking out housing, etc. from the amounts, they were asking for 15 percent of our total income towards tuition.
One caution when counting on any programs like these is to check to see whether admissions for the college are “need-aware”. Both Whitman and Colgate, for example, are need-aware for admissions, meaning that their admissions decisions take into account ability to pay. So, I would assume that each college has a limit on how many of these spots they can afford to fund in each freshman class. After that, they turn to full pay applicants.
This girl has a superb profile, so my guess is that she would be one of the top applicants at Whitman, so she should have no trouble qualifying for this program. Colgate is more selective and therefore normally has more top applicants, so qualifying will be a little harder but I think she still has a good chance for 2 reasons. First, Colgate is bigger (3200 vs 1600), so it has more slots. Second, Colgate gets very few students from Oregon - 4 in the most recent freshman class with data available. That makes her valuable to them and she has top stats.
The thing I am trying to wrap my head around is a full pay family at Whitman means having at least like $690K in AGI. They even put a nice graph on their website showing this:
I believe that sort of AGI would put you comfortably into the top 1% of US households even at age 45-50 (which is getting into the peak AGI period, and also when a lot of parents are sending kids to college). Even in the higher income states like California, I believe you would still be comfortably top 2%.
So I am not sure Whitman even could fill up on true full pay families if it wanted to.
That said, a lot more families would fit within, say, $10-20K of being full pay. Which is sort of how this makes sense to me. Basically, Whitman is cutting its tuition cost for the sorts of families who would be full pay anywhere else. And while that is nice to know, it is sort of similar to what, say, William & Mary has long been doing.
So I guess the point of this rambling is maybe otherwise full pay families looking for too much of a reduction could end up on the wrong end of need aware being used to protect their budget. But my guess is if you are more looking just for William & Mary sorts of costs, give or take, that might work out fine.
As with all things related to admissions, these policies are designed to serve the of the institution. In this case the program is designed to increase applications, to thereby have them become more selective, and then to be viewed as more prestigious. When Colgate implemented its program, that’s exactly how it worked, within a year or two the number of applications doubled and their acceptance rate was cut in half, from 22% to 11%.
Nonetheless,in any individual case, applicants should do whatever best meets their needs. This young woman should definitely take advantage of the program at Whitman and if Colgate looks good to her upon a new look, then apply there too.
For a higher need family these prices sound good, but might not be as financially favorable as regular meets needs colleges. If I’m reading this correctly, a family with an AGI of $70-80k would pay $7-8k in tuition plus room and board plus fees plus possibly a student share. Whereas at most meets needs schools they would pay little to no tuition already (but may still owe room, board, fees, a student share (which can be significant if your kid works all summer as mine did)). So it sounds to me like Colgate or Whitman would actually cost more for a family up to a certain level (assuming the kid has stats to get into a full meets needs schools college) and this program actually is best for those in higher income brackets who normally wouldn’t receive aid at all and now will get a nice savings off tuition. (Eg if tuition is $60k you could get 1/2 off with an income of $300k - essentially a $30k merit scholarship. COA is probably still close to $60k all in, but still nicer than $80-90k.). So basically it’s merit for higher income families under a different name (it might work well for families with AGI of $100-200k - I don’t know what they’d pay at a full meets need college vs say $15k in tuition plus all the other costs).
Whitman meets 100% of need and this new 10% Promise policy does not change that. Low income families can still end up paying much less at Whitman. The 10% promise is just a guarantee that a family will not pay MORE than 10% of income on tuition.
My D would love to be considering Colgate and peers but the “typical assets” disclaimers rule them out for us. Ignoring assets is what makes this Whitman policy so unique.
It takes a lot of pressure off of merit-hunters. No need to shotgun so many applications…
I learned about this from a Ron Lieber article in the NYT. Here is an excerpt:
“Whitman has seen a notable falloff in applications from the upper middle class. Many of those families have high enough incomes to disqualify themselves from much need-based financial aid, but they don’t have enough money to afford the school’s annual list price of close to $90,000.
But even at a significant discount, often in the form of so-called merit aid, those families provide revenue that is above average for the school. Whitman, like a vast majority of colleges and universities, desperately wants its net tuition revenue per student to rise. It hopes to use transparency as a form of competitive advantage.”
Even Harvard, known to have good need based financial aid, gets to full pay at “only” about $340k income (with no assets), according to its net price calculator.
So using that baseline, the range where Whitman is still giving “need” aid and Harvard is not is something like households of relevant age into at least the top 5%, but not too far into the top 1% (understanding again this would set a bit lower in high income states).
We had already been seeing some price competition heating up in the 15-10% range (more or less depending on assets). It will be interesting to see if others get involved in this even higher range.