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are they getting money from elsewhere, or are they just taking fewer students from those income brackets?
by lex 19y ago
are they getting money from elsewhere, or are they just taking fewer students from those income brackets?
- alaskamiller 19y agothey have 17 billion dollars in cash from donations and various other means. they're now disbursing that through the free tuition process.
- phil 19y agoTheir admissions are need-blind, so they can't "just take fewer students" from a given income bracket.
- lex 19y agoI mean it somewhat facetiously. I went to Cornell, and judging by the prices for books, food (the items that are really marked up), margins are important to them. Then again, they have less money than Stanford.
- Xichekolas 19y agoThese Universities have huge endowments. Harvard's stands around $35 billion (http://www.news.harvard.edu/gazette/2007/08.23/99-endowment.html http://www.news.harvard.edu/gazette/2007/08.23/99-endowment....). At a conservative 4% draw rate, this could fund 40,000 students per year at $35k/yr tuition, forever. So really, free tuition is chump change for them. Obviously they have a lot of other stuff to support with their endowment, but they only have about 6700 undergrads (http://www.admissionsconsultants.com/college/harvard.asp http://www.admissionsconsultants.com/college/harvard.asp), so it's not really an issue.
- anewaccountname 19y agoThey probably just decided to scale back the budget by 5% on one "monument to some architect's ego".