Thanks for the post MGH. I am definitely with you (hopefully Kellogg treats you well!). Another factor that may not be uncovered by the admissions committees, besides savings, is current student loans or loans for those individuals to whom the applicant is married/partnered. These certainly play a role in a decision to enroll, but may not be uncovered by the committees.
We have acceptance letters to Darden, Anderson, Marshall and Kenan Flagler but have not gotten an offer of aid. All other factors equal, the applicant's salary is quite high. She has solid experience, >700 scores and a high GPA from a well known top 20 school, which makes us think there might be something else at play in their scholarship decisions. And certainly, we can all agree that the schools have an incentive to use their limited scholarship resources as efficiently as they can to attract the best applicants.
If what we think is true, then we actually think the current approach to awarding aid may be slightly flawed and in need reform. If we're right, schools should probably consider more financial factors when they evaluate candidates for scholarships. Agreed?
Either way, these all fall under the category of "good problems" to have