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Brutal times for today’s undergraduates(‘ parents)

June 10, 2009

IMG_2914Reader MS highlighted the new painful phenomenon on college campuses throughout the US:  smaller institutions being forced to drop needy students.  This latest article is about Reed College, in Oregon:

Money was the problem. Too many of the students needed financial aid, and the college did not have enough. So the director of financial aid gave the team another task: drop more than 100 needy students before sending out acceptances, and substitute those who could pay full freight.

This sentence was the stunner, however:

Instead, the board has approved increases in tuition and fees that bring the total cost of a year at Reed to $49,950.

MS said:

When I started (in 1998) tuition was only $22,000 per year I think…  in a decade, it’s gone up 60%?
By the time any of us are parents, I doubt “legacy admissions” is going to be an issue any more…if a parent wants to spend $128,000 per year on sending their kid to school, hey, more power to Mr and Mrs Rockefeller.

After all, in 1978, yearly tuition at the University of Pennsylvania cost under $4,000.

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