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September 28, 2016

Colleges boost financial aid to rich students

  • The shift has helped state universities cope with declines in state funding by bringing in students whose families can pay close to full tuition.
    • By MICHAEL MELIA
    Associated Press

    STORRS, Conn. — Spencer Mulligan knew his family could pay for his college education, even without loans or grants. So when the University of Connecticut offered a merit award of $20,000 over four years, he saw it as a bonus.

    As a discount on in-state tuition, it brought the cost well below half of what his family might have paid at his other top choices, Penn State or the University of Vermont.


     
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