How Colleges Are Pushing Out the Poor To Court the Rich – Slashdot

“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.'”
http://news.slashdot.org/story/13/05/12/2136219/how-colleges-are-pushing-out-the-poor-to-court-the-rich

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