The Least Economically Diverse Top College, Seeking to Change – NYTimes.com.
I added this.
“…an existing financial aid budget of $100 million…” Be careful about the definition of “financial aid”.
Here is a good explanation from the article “Despite Rising Sticker Prices Actual College Costs Stable Over Decade Study Says” (October 25, 2013, New York Times).
“Some segment of the public is delighted to know that it costs a large number to go there, but their own son or daughter has received a scholarship.” (Richard Ekman, president of the Council of Independent Colleges)
In other words, it is just what economists call “discriminatory pricing”. If some people won’t pay $10 for a product that produces $4 in profit, give them a coupon for $2 off. You still make money.
Wash. U.’s financial statements show that total “Financial Aid” increased from $114 million in 2006 to $190 million in 2014. In that same period Net Tutions and Fees (Tuiton and Fees after Financial Aid is deducted) increased from $223 million to $340 million. In that same period Net Assets increased by $2,600 million.
P.S. Hello Stanford in Frontenac – you know who you are.
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