Bogeyorpar posted:Backstop22 posted:Excellent post that covers all of the key parameters. Now with a 2017 in the final stages of this process,I cannot emphasize enough how much the Academics can impact the Family Finances.
But that exclude the Elite colleges. If you look at the US News rankings, very few in the top 30 universities and top 20 LACs offer merit aid.
Great grades and test scored won't get you merit aid at the elite colleges, but it will give you an opportunity to get accepted. Once accepted, most of those schools have very generous need-based aid. Harvard is one of the best-case scenarios, but they publish an expected contribution of 0-10% of family annual income. Anyone with a family income of $100K should be able to find $10K per year for a Harvard education.
IMO, one of the worst mistakes you can make while choosing a college is to assume that you can't afford a particular school and not even apply.