When It Comes to College Aid, The Rich Get Richer
Via the Delco Times, The Street reports on a baffling phenomenon: “Sallie Mae has rolled out its annual report on How Americans Pay For College, and it shows a surprising trend in how student financial aid is doled out: The wealthier the family, the more scholarship money the student gets from colleges and universities.”
Well, maybe it’s not so baffling. One of the lesser-discussed goals of American colleges is that their admissions offices aren’t just looking to cultivate bright young students—they want to find folks most likely to someday donate a chunk of cash to the university, its sports programs, or its endowment. Scholarships can be an long-term investment in the institution’s own future.