Private Colleges Ask Low-Income Families to Pay More Than Ever
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Most private colleges ask their poorest students to pay upwards of half of their family income toward tuition, and many chase wealthy students by offering them aid they don’t need, according to a new report (PDF).
The study, released on Wednesday by the New America Foundation, found that 69 percent of private colleges asked students whose families earned $30,000 or less to turn over half that income for tuition in 2012. At public colleges, 6 percent of these students were on the hook for $15,000 or more.