Some Rich Students 'Merit' Financial Aid

Kim Clark:

Although college tuition prices are at an all-time high, colleges are, on average, issuing stingier financial aid packages this year, say counselors who've been helping families with their college finances.

Counselors who have examined awards from many colleges say that only a few dozen extremely generous schools are making sure that every student who needs financial help gets enough scholarships to attend. Meanwhile, a growing number of schools and states are awarding scholarships to students from wealthy families. Some of the wealthy students are receiving "merit" awards because of their top grades or test scores, but counselors say they are increasingly seeing run-of-the-mill but wealthy students receive "merit" awards, too. Meanwhile, the vast majority of low- and middle-income students are receiving far less aid than they need.

Posted by Jim Zellmer at May 15, 2008 7:33 PM
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