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View Diary: Student loan debt will exceed $1 trillion this year (123 comments)

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  •  Many Prestige Colleges due that for many students (3+ / 0-)
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    Melanie in IA, opinionated, Caj

    Prestige schools - not public schools - have huge endowments and most of them give very generous assistance. For example Standford offers a sliding scale in which households under 100k get free tuition and under 65k they pick up everything. Harvard offers a maximum total outlay of 10% of income for anybody with a household income under 200k. The catch it that these school only accepts about 1700 students to year and have about a 7% acceptance rate. Most kids - even those at the very top are going to go to public Universities that are grossly underfunded and even with aide cost far more then most families can afford without taking out sizable loans.

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