But there's going to be a lot fewer actual full payors at Syracuse. Many more full pay families at JHU. Which is what you'd expect to see, despite both having the same nominal full private sticker price.Neither should Hopkins. And yet, both charge what the market will bear......
The model for a full fancy private school like JHU is high sticker price, zero merit aid, ample need based aid, and a barbell of student families -- some pay very little (due to need aid) and many (I'd guess 40-45%) pay full sticker price (no merit aid; no need aid). The model for a not-as-fancy private like SU is high sticker price, decent amount of merit aid (aka tuition discounts), OK but not awesome need based aid. Fewer families paying full sticker; less barbell. The numbers back that up.
The median family income at JHU (per the NY Times database) is $177k. Which means that anyone near or above the median is full pay. Making $200k a year and paying 4 x $75k for one kid to go to Hopkins is really painful.
Median family income at Syracuse is $114k. Nobody at that median is full paying $75k for Syracuse. Probably 75-80% of kids at SU are getting need or merit aid. Which is why 72% of kids at JHU come from the top 20% of incomes versus 51% at SU.
The differential pricing model for college is pretty much the same used for an airline seat. Everyone (at least in coach) gets the same product -- you all leave LaGuardia at the same time and arrive at O'Hare at the same time. But everyone pays a different price.
Even though JHU has a lot more families paying full freight, the average price for all JHU families ($31k) is lower than at SU ($34k).