"The proportion of students who received merit aid grew faster than those who received need-based aid in the first 20 years of the century, indicating a shift in financial aid strategies."
"At public institutions, the median total award for the highest-income students was $4,000, versus $3,374 for those in the bottom income quartile, highlighting the disparity in financial aid distribution."
"Colleges are under an extraordinary amount of pressure to meet revenue goals, and if giving a student a little bit more money in merit-based aid is going to net you enough money to meet your revenue goals, then that's how we got to where we are today."
Colleges and universities, particularly less wealthy private nonprofits, are increasingly using merit aid to attract students who can afford tuition. Research shows that from 1999-2000 to 2019-20, merit aid recipients grew by 19 percentage points at private colleges and 18 at public colleges, while need-based aid recipients increased only 10 percentage points at public institutions and declined at private ones. Wealthier students receive larger financial aid packages, with disparities evident between income brackets. The trend reflects pressure on colleges to meet revenue goals through merit-based aid.
Read at Inside Higher Ed | Higher Education News, Events and Jobs
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