An article in the New York Times entitled “Five Truths About Tuition” features a quick quote from Professor of Economics Gordon Winston,

Gordon Winston, an economist at Williams College, told Congress that poor ”stars” were doing well — through scholarships awarded by private colleges — but ”the good-but-not-great low-income kid, and the average, are being lost.”

You can read the full text of Winston’s Congressional testimony here, albeit poorly formatted. All of what Winston’s says is perfectly sensible stuff, although I still suspect that Williams, at least, might do a better job in controlling its costs. My favorite quote from the testimony is:

We recently did a study of the prices actually paid by Williams students, relative to their family incomes, and found that kids who come from families in the bottom national income quintile — less than $24,000 a year — pay on average just $1,683 for a year at Williams. (The sticker price was $32,470). In this, Williams is typical of those high quality schools that use need-blind admission and give full-need aid — Princeton, Harvard, Swarthmore, Yale, Amherst, Stanford, etc.

It is good to know that Williams does whatever it can to ensure that low family income is no barrier to becoming an Eph. I am a little suspicious of the $1,683 figure. Don’t students from low income families end up with a lot more debt than this? I would guess that this is just the actually out-of-pocket expense and doesn’t include the value of any loans.

Thanks to the handy Williams in the News for the reference, although I do wish that they would provide some links.

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