[baking]

>If you're fairly well off (parents earning $120,000/year), you can easily get a free education at one of the top schools.

It is great that Stanford was able to offer free tuition (not free education) to whatever portion of the 2,144 students they admitted this year had family incomes under $125,000 and "typical assets" but it is definitely not easy to get into Stanford. As a family with $140,000 in income and what I would consider to be typical assets (modest home, minimal retirement and college savings) we received no financial aid offers of any kind and were expected to be able to pay $65-70,000 per year at private colleges.

Luckily, my daughter found an excellent out-of-state public college that she loves and should graduate debt-free. Unfortunately, too many of her high school friends fell into the private school trap and are now either paying outrageous tuition or are stuck in a mediocre in-state public school.

To any parents now making college visits, ignore those press releases, insist that you visit as many public campuses as you do private ones, and that your children apply to as many public schools as they do private schools and you won't live to regret it.

[eric_the_read]

There is some evidence that where you actually attend university doesn't matter. This paper in the Quarterly Journal of Economics suggests that what matters is where you apply, not where you actually end up going: http://cdn.theatlantic.com/static/mt/assets/business/dalekru...

[JabavuAdams]

Wow, that's steep! I would expect a dual-income family making about $140k total to be able to pay $25k/year for schooling without making other lifestyle adjustments, but 65k-70k for one student -- that's outrageous!