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How Colleges Are Pushing Out the Poor to Court the Rich

Anonymous Coward writes | about a year ago

0

An anonymous reader writes "A change from "need" based financial aid to a "merit" based system coupled with a "high tuition, high aid," model is making it harder for poor students to afford college. According to The Atlantic: 'Sometimes, colleges (and states) really are just competing to outbid each other on star students. But there are also economic incentives at play, particularly for small, endowment-poor institutions. "After all," Burd writes, "it's more profitable for schools to provide four scholarships of $5,000 each to induce affluent students who will be able to pay the balance than it is to provide a single $20,000 grant to one low-income student." The study notes that, according to the Department of Education's most recent study, 19 percent of undergrads at four-year colleges received merit aid despite scoring under 700 on the SAT. Their only merit, in some cases, might well have been mom and dad's bank account.'"

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