Today’s reading (part 1 of ?)
I discussed “merit” scholarships with Lisa Philip (another awesome Open Campus reporter).
One of the biggest problems I have with merit scholarships is what it messages to those who don’t get them. In my research last year, so many of the scholarships offered that were called “merit” were simply “random criteria” scholarships… veteran status, membship in boy scounts, attended particular school, etc.
GPA and score criteria are simply another random criteria used to limit who can access the the money. I really wish that the money went to those who needed it. If you’re admitted and need the money their should be additional criteria. I get it, universities are businesses and this is a business strategy if that’s the approach it needs to be communicated more clearly.
I’m quoted along with the wonderful Marie Bigham. Here are some of the snippets that most caught my eye:
- The number of Black students in Illinois enrolled in college has dropped by more than a third over the past decade, and Black students like Granville often cite money as the biggest hurdle standing between them and a college degree [analyzing finances along sign the rogue court decision should be a requirement for anyone claiming to look at the impact of SFFA]
- Spending on merit aid at more than 300 public universities nearly tripled in that same time period
- [not cited in the article but this paper by @dominque baker and kelly rosigner is worth reading https://lnkd.in/ePTpsfkk ]
- “It’s like the Bed Bath and Beyond coupon,” Bigham said. “Everyone gets them in the mail, right? And so is it just that everything’s overpriced by 20%?”
- College leaders defend the strategy, arguing that, even with merit aid, wealthy students pay more tuition and subsidize spots for students who can’t afford to pay any tuition.
https://lnkd.in/e-7tmr-S
Palmetto citizens Investment service Associate Financial Advisor for LPL Financial
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