<p>Dartmouth</a> News - Dartmouth announces new financial aid initiative - 01/22/08</p>
<p>Dartmouth has some new policies for financial aid:
1. Free tuition for students who come from families with annual incomes below $75,000
2. Replacing loans with scholarships
3. Need-blind admissions for international students
4. Junior leave term with no earnings expectation </p>
<p>Why has Cornell not done this?</p>
<p>i am thinking that this is so because of the number of students that Cornell has.</p>
<p>Cornell probably cannot afford to do so at this point. Dartmouth recently reached the $1 billion mark in donations and reached their goal, plus dartmouth has always had the largest (i believe) endowment in the ivy league outside of the big three. </p>
<p>Plus its about 10x smaller than cornell.</p>
<p>why has Columbia not done this?</p>
<p>It's all about money per student.</p>
<p>How much do these schools spend on financial aid?</p>
<p>Harvard has a FinAid budget of $120 million for ~6000 students
Penn has a FinAid budget of $110 million for ~10,000 students.</p>
<p>Endowments must be considered relative to school size. Dartmouth has like 5 people. Cornell has roughly 1.3 jillion.</p>
<p>oh</a> no she didn’t</p>
<p>towards the bottom of the latest entry, it appears as if Cornell is making changes to their financial aid program as well. nothing set in stone yet.</p>
<p>yup, probably the size.</p>
<p>I think Cornell has to implement some change considering all other seven ivys have done the same. I have faith in Skorton..lol</p>
<p>cornell should (hopefully) be doing something soon enough...i'd say within two years. i see a big jump in endowment at the end of 2008 (returns on the endowment are already pretty nice, and cornell has just raised $2 billion out of $4 billion for its capital campaign). the only question now is what this something is going to be?</p>
<p>"1. Free tuition for students who come from families with annual incomes below $75,000"</p>
<p>OMG</p>
<p>
[quote]
So, due in part to the massive amount of money raised by the Far Above campaign, Skorton told us tonight that some big, “robust” changes were being made to Cornell’s financial aid program. Details are going to be released to the Sun in the next 48 hours.
[/quote]
</p>
<p>cool, so we should know about something new soon.</p>
<p>Cornell may have a large student body, but that also means more people to make donations in the future, which should make it just as easy or difficult to give generous financial</p>
<p>of course, alumni would be more willing to donate back to Cornell if they weren't so in debt with student loans....</p>
<p>48 hours! whoever hears something post a link up here quick</p>
<p>
[quote]
Cornell may have a large student body, but that also means more people to make donations in the future, which should make it just as easy or difficult to give generous financial
[/quote]
</p>
<p>And how much do you think the average alumnus gives back to Cornell in their lifetime?</p>
<p>BTW: Here are the endowment figures:</p>
<p>Dartmouth endowment $ per student: $642,885
Cornell endowment $ per student: $273,976</p>
<p>^ ouch..lol. I am praying that Cornell does something. At least eliminate loans, if that isnt too much to ask..lol</p>
<p>Another article talking about President Skorton's address of the "robust" financial aid plans:</p>
<p>The</a> Diffident Ivy | The Cornell Daily Sun</p>
<p>
[quote]
“I want to remind you,” President Skorton told Sun editors in a poignant reflection during a meeting on Monday, “that I’m a first generation college student, from a family that couldn’t afford to do much. It took me 20 years to pay my loans off, and for that reason, I have a personal commitment to see us do better in this regard.”
[/quote]
</p>
<p>Here it is:</p>
<p>"By the 2009-2010 academic year, students whose families make less than $75,000 a year will receive grants in place of the traditional need-based loans, while those from families with incomes between $75,000 and $120,000 will see their loans capped at $3,000 a year."</p>
<p><a href="http://cornellsun.com/node/26757%5B/url%5D">http://cornellsun.com/node/26757</a></p>