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The Financial-Aid Fine Print

The wealthiest colleges have similar policies. But variation among them can make a real difference in what students will pay.

Admissions counselors from any of the country’s wealthiest colleges would probably describe their financial aid in similar terms. Something like: “Yes, our price tag is really high, but we meet the full demonstrated need of all our students. If you get in here, we’ll make it affordable for you.”

That’s basically true. And the wealthiest colleges do have roughly the same financial-aid policies. But they’re not exactly the same.

Colleges work to strike a balance between providing for current students and conserving resources for future ones.

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Update (Feb. 25, 2015, 11:40 p.m.): These are the percentages reported to the federal government, but the figures for Harvard count non-traditional students who take classes at the university’s extension school. Harvard maintains that the numbers make the university appear less socioeconomically diverse than it is.
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About the Author
Beckie Supiano is a senior writer for The Chronicle of Higher Education, where she covers teaching, learning, and the human interactions that shape them. She is also a co-author of The Chronicle’s free, weekly Teaching newsletter that focuses on what works in and around the classroom. Email her at beckie.supiano@chronicle.com.
About the Author
Jonah Newman
Jonah Newman was a database reporter for The Chronicle.
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About the Author
Brian O’Leary is an interactive news editor at The Chronicle, where he builds data visualizations and other interactive news products. Email him at brian.oleary@chronicle.com.