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Should Price Reflect Cost? (Part 1)

January 14th, 2013 by dfarish

In a major front-page, above-the-fold article on Sunday, 23 December, The New York Times told of the widening gap in college completion rates for high-income versus low-income students. The Times illustrated the broader story with specific examples, including one of a student who was admitted to Emory University on what she thought was a full-need scholarship – but, because of problems in completing her financial aid forms, she arrived to find she had no institutional aid, and needed to borrow $40,000 just to enroll for her first year. Ultimately, her financial problems reached the point where her grades suffered, and she was suspended in her senior year. She now has an educational debt of almost $60,000, but no degree.