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[QUOTE="bantamlaker, post: 2793694, member: 8773"]
Just want to comment on the first point as some others have done.  Yale and the other Ivies now offer fairly generous financial aid packages and I think most low income families will probably come out better off financially if a child attends Yale instead of another private school and probably even some state schools. From the Yale admissions website in the financial aid section:
“Yale admits students without regard to their ability to pay and meets 100% of demonstrated financial need.  For all students.  Without loans.”
“Families whose total gross income is less than 65,000 are not expected to make a contribution towards their child’s Yale education. “
Average need based scholarship in 2017-18 was 49,573.

I guess it helps to have a 27.2 billion endowment (as of 6/30/17).
On the website there is a section Who Qualifies for Aid which breaks down financial aid by income levels.  People might be surprised to see that some with very substantial income can still qualify for significant financial aid.
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