Earlier quoted context omitted.
Rarely do most people who go to top schools pay full price. Only those from extremely wealthy families do. All (yes, all) the top schools are need-blind, meaning they don't look at your financial situation when deciding whether to accept you. A few of them (Stanford, Harvard I think) are offering completely free tuition if your parents make less than $100k. For other situations, you typically would get around 75% of…
Most of these pro-rated tuition policies are very, very new; until very recently, even students at top schools were expected to take out loans to cover some medium-sized fraction of the tuition costs. By comparison, going to a rather good state school, I got paid a net of around $8k per year to go to college. The financial equation is different for every person, but the value add of a name-brand school over a state s…
That being said, I got an excellent scholarship for the college I went to. But I still regret not going to a "name-brand" school independent of the educational quality of the college. The kind of people you're around and the contacts you make are really different. That can be useful on an ongoing basis, not just right after you graduate.