College financial aid: It’s a sham that depends on what colleges think families will pay.

Slate (07/25/2022)
  • A deep-dive revealed that most colleges across America set financial aid packages using data-generated estimates of how much each applicant (and their families) are willing to pay.
  • Schools hire “enrollment management” consultants to analyze historical admissions data, determining the amount of financial aid relative to “sticker” tuition prices that will attract enough students to meet enrollment goals.
  • Since poorer, 1st generation college students (and their families) are often more willing to pay, many schools offer them less financial aid than privileged applicants.