Even granting that the current admissions truly are need-blind (which I think it is reasonable to dispute), the smallest Ivy endowment is still over $4 billion. We’re not talking about a state university using full freight foreign students to subsidize in-state students because they have no other choice.

There’s no reason sticker price tuition at Brown needs to be almost $60k a year, and it is scandalous that Harvard, Princeton, and Yale charge tuition at all.