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By Ryan Balton
Posted: 3/5/08, 12:08 AM EST Section: News
Harvard University is making the financial burden easier on its students by announcing on Dec. 10 that tuition for students in families with incomes under $180,000 would be 10 percent of the family's income. The amount will decline steadily to 0 percent for families making under $120,000 a year.
The University of Pennsylvania is eliminating all student loans and replacing them with grants, a Dec. 17 announcement said.
Yale University is eliminating student loans through increased on-campus student employment, said Caesar Storlazzi, Yale's director of student financial services. The minimum hourly rate for on-campus student jobs will be $11.30.
Parents making under $60,000 will not be expected to contribute any money to their students' Yale educations.
Storlazzi said student groups like the Yale Common Council had to do with the decision.
"They're very intelligent, well-thought-out positions that have been taken from these groups," Storlazzi said. "And the strongest message from both groups have been the worry about getting too far into debt."
The competitive landscape of other schools in its tier has also prompted Yale's decisions.
Unlike the case at Yale, no student group at SU has ever formally filed a complaint to the financial aid office. But the decisions by Ivy League schools may have a "trickle down effect" on schools like SU, said Kaye Devesty, SU interim director of financial aid.
"I think you sit up and take notice," Devesty said. "You start discussing exactly what's going on: What steps should we take? Should we make any changes?"
Informal discussions at SU have taken place over the initiatives other institutions are offering, but no official decision has been made, Devesty said. A change would be made at the chancellor level and by the SU Board of Trustees.
The aid and tuition changes by the Ivy Leagues will not affect the makeup of SU's incoming classes or financial aid in the short term, said Donald Saleh, vice president of enrollment management.
The University of Pennsylvania is eliminating all student loans and replacing them with grants, a Dec. 17 announcement said.
Yale University is eliminating student loans through increased on-campus student employment, said Caesar Storlazzi, Yale's director of student financial services. The minimum hourly rate for on-campus student jobs will be $11.30.
Parents making under $60,000 will not be expected to contribute any money to their students' Yale educations.
Storlazzi said student groups like the Yale Common Council had to do with the decision.
"They're very intelligent, well-thought-out positions that have been taken from these groups," Storlazzi said. "And the strongest message from both groups have been the worry about getting too far into debt."
The competitive landscape of other schools in its tier has also prompted Yale's decisions.
Unlike the case at Yale, no student group at SU has ever formally filed a complaint to the financial aid office. But the decisions by Ivy League schools may have a "trickle down effect" on schools like SU, said Kaye Devesty, SU interim director of financial aid.
"I think you sit up and take notice," Devesty said. "You start discussing exactly what's going on: What steps should we take? Should we make any changes?"
Informal discussions at SU have taken place over the initiatives other institutions are offering, but no official decision has been made, Devesty said. A change would be made at the chancellor level and by the SU Board of Trustees.
The aid and tuition changes by the Ivy Leagues will not affect the makeup of SU's incoming classes or financial aid in the short term, said Donald Saleh, vice president of enrollment management.
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EGON
posted 3/09/08 @ 12:06 PM EST
I've sent a letter to the US senate requesting that the US government consider placing a tax on all educational endowments, regardless of the level of education, over a billion dollars: The Education Endowment Tax. (Continued…)
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