Can someone tell my how kids can afford to go to private universities like NYU, Columbia, etc...

Can someone tell my how kids can afford to go to private universities like NYU, Columbia, etc...? I'm from Canada and shelling $50-60k tuition per year is a lot. Or only rich familes attend private universities?

Elite universities will pay for students who cant afford it if theyre smart enough to get in.

Donations and tuition from the parents of dumb rich kids pay for scholarships for smart poor kids.

It's a pretty good system desu.

Those schools give out grants. They are the most generous when it comes to financial aid

Classmate is in the Ivy League, grew up in a house with an income of like 60k per annum.

Totally free. If you get accepted and don't have the money, they'll cover the costs for you.

I'm curious, does anyone attend private universities here? What's your experience like?

I go to the University of Chicago for econ... It's really just like any other school, but I feel like a complete idiot studying here because every single person is intelligent... The main difference I think is the exit opportunities... I've secured a BB Investment Banking job which I probably wouldn't have been able to do coming out of my local city school...

What's a "BB" investment banking job?

Investment in BB guns

Bulge Bracket so Goldman, JPM, Morgan Stanley ect.