An article in today’s New York Times reports that Yale University has followed the lead of Harvard in pumping $24 million into its financial aid budget. This will help reduce the squeeze on middle income families with incomes of less than $200,000. Financial aid packages for a large portion of current and future students will increase, making Yale more affordable.
While this is a huge boost to many families and kids aspiring for the Ivy League, I find that the hardest thing to convince parents is that private colleges really do have bundles of financial aid to give away to talented students.
Depending on the kid, and depending on the school, financial aid packages at private colleges can make the cost of attendance actually lower–or at least on par–with what the same family might pay at a state university.
I try hard to work with my clients to find the right college match. And one of the most important criteria is a good financial fit.