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THURSDAY, NOVEMBER 26, 2009
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Rich Kids Get Leg Up at Cash- Strapped Schools

Admissions staff skirts need-blind rules

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(Newser) – Endowments are shrinking, and kids are needing more aid—so many colleges are reluctantly giving an admissions boost to students who can pay in full, the New York Times reports. Schools are finding ways to let in more wealthy students without sacrificing "need-blind" labels: by admitting more foreign students, transfers, and those on waiting lists that aren’t covered by the need-blind pledge.

Colleges aren’t necessarily slashing their financial aid budgets—but more kids are needing more help, forcing schools to pick and choose. Though institutions still want to provide for needier students, “there’s going to be a cascading of talented lower-income kids down the social hierarchy of American higher education, and some cascading up of affluent kids,” says the president of Williams College.

Applying to college? Having the cash yourself will help.
Applying to college? Having the cash yourself will help.   (Shutterstock)
Applying to college? Having the cash yourself will help.
Applying to college? Having the cash yourself will help.   (Shutterstock)
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riffran
Mar 31, 09 9:27 AM CDT
and next it will be called "rascist" ......enter "fannie and Freddie"...and here is the next bail out Reply
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wwwonderer
Mar 31, 09 10:28 AM CDT
This has been one of my contentions about higher learning. Soon college degrees will not be an indication that someone is bright or intelligent. It will soon be an indication of who is wealthy enough to afford a degree. I've seen a few fresh graduates -within the past 3 years- that were dumb as a box of wet pet hair. But they had a degree. Hopefully is provokes a better entrepreneurial spirit in our young people, sorta like how a young Bill Gates -with no college degree -but some college experience- started a little company called Flight Simulator, oops, I mean Microsoft. Reply
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glasswright
Mar 31, 09 10:52 AM CDT
bill gates may not have finished college, but his parents were still crazy rich. the only reason his company got off the ground was because of their massive investment. dealing with the article, something has to be done about the price of college tuition. i'm in high school right now and it's so painful to see all the smartest people in my school graduating and working at convenience stores cause they couldn't afford to go to college. i'm sorry, but when parents have to start saving for college before the child is even born, it costs way too much.
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SPH
Mar 31, 09 2:00 PM CDT
If you think the cost of education is high, try ignorance...... Reply
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