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12/24/2007
According to a December 22, 2007 article from The Associated Press, a recent trend at higher education's elite institutions may have a ripple effect upon other colleges that could negatively impact low-income families. As a handful of private colleges (for example, Harvard and Duke University) announce they will utilize their endowment funds to decrease (and, in some cases, completely eliminate) loans and parental contributions for students whose families earn well above the national average, other colleges may feel pressured to make similar changes in order to remain competitive. Some critics argue that, if limited institutional funds are used for other than need-based assistance, then students from low income families may have less resources available for them. Others contend that the status of the overall national economy will have a greater impact on college costs than will the practices at a handful of elite institutions.
The article is available at the MSNBC Web site.
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