Who's paying more for college? Not who you think

Matt Zalaznick's picture
Thursday, August 1, 2013

College students have a better chance of getting financial aid if they come from affluent backgrounds than if they are lower on the income scale, some new studies show.

There is growing evidence that colleges may be offering more scholarship money to wealthy students and less to those truly in need, and by doing so are perhaps closing a door to advancement for many families.

A new study by Sallie Mae found that 36 percent of students from wealthy families received scholarships averaging $10,213 for the school year just ended, while 35 percent of students from families earning less than $35,000 a year received scholarships worth an average of $7,237.

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