So Money with Farnoosh Torabi · Monday, September 7, 2026
Maria Melchor explains her strategic decision to apply to elite colleges like Yale, which offered robust financial aid packages. This approach allowed her to pursue higher education with minimal debt, thereby maximizing the opportunities her parents' sacrifices afforded her.
“I think getting into Yale was like a huge, um, moment for me, and that would put me on this path to even more opportunities down the line.”
“I applied because, you know, many elite colleges in the US would give low-income students very robust financial aid packages compared to like state schools that were, like, the sticker price was lower, but the financial aid wasn't strong enough.”
“So the net cost of college for me was going to be lower if I went to an elite college that could give me financial aid.”