Provost Dukes Love gave a presentation (pdf) on “Access and Affordability in Higher Education” at the Alumni Leadership weekend in May. Thanks to popular demand, we will spend this week going through some highlights. Background reading: this 2016 overview of similar material from the previous provost, Will Dudley ’89, and our 2017 series about the Equality of Opportunity project. Day 5.

If your provost is an economist, his first instinct will to draw budget constraints. And so we get:

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1) If we fix our financial aid spending at its current level, then we can only slide up and down the curve on which the purple dot currently sits. If we want to give more aid to currently aided students, then we need to reduce the percentage who receive financial aid in the first place.

2) If we increase the financial aid budget, then we can work with a new budget curve, up-and-to-the-left of where we currently are.

3) Biggest surprise of the entire presentation is how “cheap” it would be to become as “generous” as Princeton. It looks like just $4 million of extra spending would allow us to match them. That isn’t much! There are 1,000 or so students who get no financial aid. Imagine that we raised the price of Williams from $67,000 to $71,000. There is your $4 million right there! EphBlog votes Yes!

4) However, the central problem with this presentation, indeed with almost all presentations at Williams, is its refusal to grapple with the key issue: the quality of the student body. I assume (hope!) that such presentations are created and presented to the trustees, that the people who run Williams worry about us maintaining our status as the #1 liberal arts college in the world, and that the key to that status is the academic quality of each new incoming class of first years. When will Dukes Love share that analysis with us?

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