News, Views and Careers for All of Higher Education
March 12
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Not just prominent private colleges
In addition to Vassar and other “prominent private colleges,” many private and public colleges and universities have been able to make pledges to reduce or eliminate loans in financial aid packages. These institutions represent varying levels of selectivity, name recognition, and endowment strength.
Several recent media reports have mentioned the number of institutions with endowments above or below $1 billion that have been able to make these pledges. It is more useful to relate the size of the endowment to the size of the student body by looking at endowment size per full-time equivalent student. This measure is available in the same NACUBO study usually cited for the overall endowment figures. On this measure, Vassar has $363,000 per student, which is well within the range of other private colleges and universities that have announced similar pledges. Altogether, eight private institutions of less than and 14 public institutions with lower endowment dollars per student have made pledges of this type.
A list of over 15 public and over 25 private institutions that have made financial aid pledges of this sort can be found on our web site at: http://projectonstudentdebt.org/pledges
—Matt Reed
——————————- Matthew Reed Policy Analyst The Project on Student Debt 2054 University Ave., Suite 500 Berkeley, CA 94704 510-559-9509 x312mreed@ticas.org
Matt Reed, Policy Analyst at Project on Student Debt, at 4:45 pm EDT on March 13, 2008