Reply #34: funding [View All]

[Celebration]

There is competition among colleges for the best students, and yes, that includes price competition. Really great students from any level of income families can get a free ride, particularly if they are willing to go to a school one step down from the highest level ones who would accept them. Private colleges at full tuition are really expensive and make a sizeable dent in the finances of probably 99% of families.

These scholarships are funded by private donations that are earmarked for merit based scholarships. I just don't know what anyone can do about it. I also think it is a big incentive for high school kids to try to achieve, so overall I think they are a good idea. There is still money earmarked for students based on need. It is just that this pool of funds has not increased as fast as merit based scholarships--due to many factors--competition among universities, wishes of donors, etc.