Sadly those schools have done away with merit based scholarships and only give need based money. In order to get a diversified population they are no interested in upper middle class high achieving kids. Wealthy and lower middle class and poor make up the student population.Smart upper middle class kids not really welcome. They are priced out.
Fat hurts wrote:
Kids aren't rich - parents are wrote:It varies quite widely by school, of course. But many of the elite schools could thrive financially if they never charged a single dime for tuition from any student.
To illustrate, the following schools have endowments per student as shown:
Amherst College: $1.2 million
CalTech: $1.0 million
Harvard: $1.7 million
MIT: $1.2 million
Pomona College: $1.3 million
Princeton: $2.8 million
Stanford: $1.3 million
Swarthmore: $1.2 million
Williams College: $1.1 million
Yale: $2.1 million
So, yes, they want a strong student body. But no, they really aren't very concerned with getting their financial numbers to balance next year. Considerations regarding donations to their endowment dominant any financial discussions.
https://en.wikipedia.org/wiki/List_of_colleges_and_universities_in_the_United_States_by_endowmentFirst, those schools are the exception and not the rule.
Second, even those schools with huge endowments don't want to have an operating loss. So they do charge tuition and they still have the same "discount" system for less well-off students.