Friday, May 11, 2007

Wall Street over Main Street

Proof that current public policies favor the rich over the rest of us: An article in the Boston Globe reports, "Last spring, 20 of the 36 valedictorians from Boston's public high schools were confronted with the stark reality that, after all their hard work, they did not have the money to go to college. This year, the number stands to rise." The authors go on to note the disturbing trend in which financial aid is increasingly based on merit rather than need, thus sending more and more money to private school types who need it least.

Since 1993, the number of wealthy students (top quarter of incomes) receiving aid at private colleges has grown at more than five times the rate of the number of needy students (bottom quarter of income).

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