This thread is for parents of teenagers. I have something for you: the first chapter of @ronlieber’s THE PRICE YOU PAY FOR COLLEGE. Because ye gods, here’s what we and our kids are facing.

Beyond obvious changes, like $$$ tuition prices, the system has changed from when we were in school. Nearly all colleges use so-called “merit-aid” to pay kids for good grades.

This is NOT need-based financial aid, and it’s not about expanding college access for the poor... it's an arms race by schools scrambling for US News rankings.

Tuition list prices are misleading at this point. College seats are more like airline seats, and your kid's actual price is calculated based on everything from his zip code... SAT scores... how much interest he and his cohort have shown in school X (yes they can figure that out.)

Ron has seen NYC high school classes in which three kids were offered admission to the same small school at three different prices-- and *none* of them had applied for need-based financial aid!