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3. The Colleges with the Best Financial ... > Prestigious Schools and Rich Student...

Prestigious Schools and Rich Students

The schools blessed with the most prestigious brand names enjoy an advantage that thousands of other schools don’t. They can charge full price to wealthy students. Rich parents will happily write checks totaling more than $250,000 in return for bragging rights to a school like Harvard. Consequently, a brilliant wealthy student hoping to get a merit scholarship from institutions like Yale University or MIT or Wellesley College can forget about it. It’s not going to happen.

What is a more common practice among highly elite private research universities and liberal arts colleges is to dispense tiny merit awards to a fairly small group of wealthy students. Stanford and Northwestern universities and Carleton and Bowdoin colleges are among the top 10 colleges and universities in US News’ rankings that provide token grants. When I checked, here was the average merit award for a wealthy child attending these schools: Bowdoin ($1,000), Carleton ($3,368), Northwestern ($2,521), and Stanford ($4,985).


  

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