Many colleges are changing the way they distribute financial aid, making it much more affordable for ordinary students to afford extraordinary colleges. Read about these examples!
Brown – “Brown University is eliminating tuition for students whose parents earn less than $60,000, after decisions by fellow Ivy League universities to bolster financial aid as their endowments grow.” The New York Times.
MIT – “Given our commitment to meeting our students’ full need, when tuition goes up, we make sure that the aid we offer rises even faster.”
Other colleges are joining the bandwagon as well. In previous newsletters I’ve told you that Harvard and Yale are the same way. Why are colleges making these changes? The New York Times explains: “Senate is Looking at Endowments as Tuition Rises.”
So is there a downside? Perhaps. This Newsweek article says, “enrollment specialists … have long warned that elite schools may soon have a two-tier student body: full-paying students from the top echelons of wealth and lower-income kids supported by generous financial aid packages.”
Others are noticing a different consequence. As more students hear about the affordability of these colleges, the number of applicants is increasing. That makes it less likely for any one person to get in, and it makes them appear to be an even more selective and prestigious college. But if you get in, the price is right!
Let others argue about whether this is good news or not. I just know that that some colleges are more affordable than before. Everyone can reach for a college education! Don’t give up! You can do this!
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