Friday, March 4, 2005
Yale ends tuition for low-income students
Very proud to see that all three universities that my brother and I attended -- Harvard, Rice and UNC -- are making it easier for students from low-income families to attend college for free. About time! According to this New York Times story (registration required):
In an effort to outdo its rivals, Yale University said yesterday that it would no longer require parents earning less than $45,000 a year to pay anything toward their children's educations.
Harvard announced a similar program last year, freeing parents who earn $40,000 or less from paying anything, and the change helped raise its applications to record levels. Several of Yale's other competitors, including Princeton, have taken a slightly different approach by no longer requiring loans for low-income students, and they also believe the move helped increase applications.
Yale's change comes after its students demanded financial relief, and is arguably more generous than many of the financial aid overhauls at other schools, public and private universities alike. The University of North Carolina, for instance, no longer requires students from families of four earning about $37,000 or less to take out any loans to cover school expenses. Rice did the same but set the income bar at $30,000.