Colleges Soak Poor Students to Funnel Aid to Rich
John Hechinger & Janet Lorin:
U.S. colleges such as Boston University are using financial aid to lure rich students while shortchanging the poor, forcing those most in need to take on heavy debt, a report found.
Almost two-thirds of private institutions require students from families making $30,000 or less annually to pay more than $15,000 a year, according to the report released today by the Washington-based New America Foundation.
The research analyzing U.S. Education Department data for the 2010-2011 school year undercuts the claims of many wealthy colleges that financial-aid practices make their institutions affordable, said Stephen Burd, the report's author. He singled out schools -- including Boston University and George Washington University -- that appear especially pricey for poor families.
"Colleges are always saying how committed they are to admitting low-income students -- that they are all about equality," Burd said in a phone interview. "This data shows there's been a dramatic shift. The pursuit of prestige and revenue has led them to focus more on high-income students."
An
interactive chart can be viewed here.
Posted by Jim Zellmer at May 10, 2013 1:45 AM
Subscribe to this site via RSS/Atom: 
Newsletter signup | Send us your ideas
