Ivy League Schools are Affordable!
Most families don’t realize that being rich isn’t a requirement for attending Ivy League schools. As a recent New York Times article points out, Ivy League financial aid packages are extremely generous: http://www.nytimes.com/2011/12/23/sports/financial-aid-changes-game-as-sports-teams-in-ivies-rise.html.
This New York Times article explains how the Ivy League colleges are attracting some of the best athletes in the country because their financial aid packages can sometimes offer more support than even an athletic scholarship at another school. Under new Ivy League financial aid rules, if a family earns less than $65,000 a year, they are asked to contribute nothing towards tuition, room and board. Yes, an Ivy League education can be free!
The biggest benefit of the new financial aid rules is felt by the middle class. Any family making between $65,000 and $180,000 will only be expected to pay 10-18% of their annual income. Which means for a family earning $180,000 a year, a Yale education could only cost $18,000 a year!
So, if you have a child who has an exceptional talent or is a very good student, do not worry that you might not be able to save for a college education! Make your concern not finances but supporting your child in school, making sure they are productive during the summers and standing out, and preparing for those SAT’s – and the sky’s the limit!
For more information on how to get into Harvard, read Secrets and Tips from a Harvard Mom.
