Fat hurts wrote:
Kids aren't rich - parents are wrote:(1) Yes, I already said that.
(2) It is very easy for schools to be able to count on it. Simple matter of mathematics. They don't have to get it right in every case. All they have to know is that there is a strong correlation between rich parents and future rich alumni who give to their alma mater.
You may be right, but the picture I get of admissions officers is that they are more concerned with filling the current class so that:
A) They have a strong student body.
B) Their financial numbers balance for the coming school year.
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_endowment