Why rich students get more financial aid than poor ones Colleges are giving out more aid based on students' accomplishments, not their financial needColleges are increasingly spending more to woo affluent students with scholarships based solely on academic or other achievements, experts say. Here’s why colleges are giving more aid to wealthier students and how students with financial need can maximize available options. COLLEGES WANT WEALTHIER STUDENTSAffluent students get more school aid compared with students with financial need because colleges are actively pursuing them, experts say. “It is derailing public higher education and why we have a public higher education system to begin with,” he adds. FINANCIAL AID BUDGETS ARE LIMITEDFamilies depend on financial aid to help meet college costs — aid like scholarships and grants covers about one-third of college costs, according to Sallie Mae’s most recent “How America Pays for College” report.

Source: ABC News April 02, 2020 12:16 UTC