Private Colleges, Universities Set Standards To Gauge Aid Eligibility
To help establish a more consistent process for providing financial aid to low-income students, the presidents of 28 private colleges and universities have agreed on a set of common standards for determining a family's ability to pay the cost of an undergraduate education.
The ad hoc group, including the presidents of Boston College, Bowdoin College, Cornell University, Duke University, and Yale University, began meeting two years ago to talk about ways to make providing aid for needy students a priority.
Its efforts come at a time when many financial-aid experts have documented a steady decline in colleges' commitment to need-based assistance. A recent report from the Institute for Higher Education Policy criticized the federal HOPE Scholarship Program as providing a "windfall" for middle-income students while doing little to help the neediest students pay for college. ( "Report: HOPE Offers Little Help To Poor Students," ...
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