Special thanks to ’04 for posting this interesting article from The Boston Globe:

Economy lifting college prospects of the well-heeled.

Here’s a bit that includes a quote from Morty:

Morton Schapiro, president of Williams College in Williamstown and an economist who specializes in higher education finance, said there has “never been a better time to be a smart, rich kid. And at some schools, you don’t have to be as smart as you did before. That’s what happens in a recession.”

Schapiro referred not to his own institution, a top-tier private school that meets the full financial need of its students, but to the vast majority of schools that must base admissions decisions – at least in part – on financial means.

He predicted that colleges would find ways to boost tuition revenue. Some will require students to borrow more money and pay more of their summer and work-study earnings, for example, and others will ask parents to contribute more.


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