Top Colleges Are Affordable for Some
Many high school seniors and their families think it cost a lot of money to attend a private or even state public school. They see $30,000 per year and never take time to apply. I was one of them when I was applying to colleges several years ago. I am currently enrolled at a community college and will probably transfer to one of the CUNY schools. However, after reading this article from New York Times, I am considering all options.
Overall, "top schools" are very affordable to poor and middle-class students, especially when you take into account the amount of financial aid they are likely to receive. Students from homes where parents make $20k a year do not invest any money while students whose parents make $40k a year invest about $7k overall towards tuition at top schools. For families where parents can make as much as $500K, it is normal to pay the full tuition, which can go up to $70K.
Should more poor and middle-class students consider options at top schools given the amount of money it can potentially cost them?