<p>“I contemplated life night and day for the full four years with some extremely intelligent friends at the State U.”</p>
<p>Who gave YOU permission? ;)</p>
<p>"I’d say that HYPS are not elite schools anymore in terms of social class since they offer great FA packages. "</p>
<p>The available evidence regarding low-income students says otherwise. The schools are less economically diverse on the bottom end that they were 25 years ago, well BEFORE they offered the great FA packages. Think of the FA packages as discount from the list price, and you quickly come to the conclusion that there has been little change there, but the schools are, for the families struggling with income at home, perhaps even less affordable. More to the point, HYPS have fewer (percentagewise) of such students attending. They simply aren’t being offered admission.</p>
<p>I do think there are changes, however, in the “elite” status of the 50%+ students who receive no need-based aid - but I can’t prove it. I suspect there is a lot more “new money” than there used to be (but I can’t prove it.) I suspect that the percentage of hereditary families has declined at least at some of the schools (but I can’t prove it.) Some of the prestige schools now say they are playing down the legacy advantage (this, at the first time in their history that larger numbers of minorities and women could actually take advantage of it.) The amount of money in donations required to buy a place as a developmental admit has likely increased. At the same time, however, I’d be willing to bet that the median income of those receiving no need-based aid has increased very substantially, far greater than the rate of inflation, or even increases in college tuition.</p>
<p>In other words, in terms of economic class, at least some of these schools are class-based and bifurcated in ways which are more marked than in previous generations. </p>
<p>One example that immediately comes to mind is Amherst, because we have access to good data. </p>
<p>56% of the student body receives no need-based aid whatsoever, which means a minimum income of $160k, and probably a median approaching $300k.</p>
<p>16% are on Pell Grants, meaning incomes below $40k.</p>
<p>Leaving 28% between $40k and a $160k. Half of the need-based recipients have incomes of $90k and above.</p>
<p>So, the breakdown of the student body looks something like (it is inexact, but pretty close):</p>
<p>16% - Below $40k
14% - $40k - $90k
14% - $90k - $160k
28% - $160k - $300k (or a little less)
28% - $300k +</p>
<p>Looks pretty elite to me - and this is a school that prides itself (and I think they should take some credit) in striving to admit low-income students.</p>