Financial aid department’s job is ‘to supply the college with as many paying freshmen as possible’

by Grace

Heed this warning when your dream college offers abundant financial “awards” that will enable you to attend their exalted institution.

There are other siren songs out there. A school’s financial aid adviser isn’t always a freshman’s best friend. While seldom openly stated, their job is to supply the college with as many paying freshmen as possible. Budgets even at schools like Brown and Duke will only balance if over half of their students foot the full bill. Few colleges offer actual cash assistance – at best, like car dealers, they dangle discounts – so they steer less affluent students to loans. So-called aid officers do this for one reason: the money you borrow goes into the college’s coffers. Paying it later will be your problem.

Reminds me of this one.  When is an ‘award’ really a loan?

The Debt Crisis at American Colleges – The Atlantic

Advertisements

2 Comments to “Financial aid department’s job is ‘to supply the college with as many paying freshmen as possible’”

  1. Loans vs grants are clearly spelled out in the Common Data information that almost all schools post.

    I blogged about that just today at http://gasstationwithoutpumps.wordpress.com/2011/08/18/need-based-vs-merit-aid/

    Like

  2. Good point! The Common Data set is an important source of info for that kind of information.

    Like

%d bloggers like this: