Why do colleges give such substantial financial aid to low-income students. I was thinking that this diversifies their applicant pool thus leading to more applications and revenue which leads to a higher ranking. Is this enough for the high volume of money the colleges are wasting
http://www.thecollegesolution.com/list-of-colleges-that-meet-100-of-financial-need/
Run the Net Price Calculator on each school’s web site. Some are more generous than others in what they consider need.
How is giving scholarships to deserving students “wasting” money?
So you’re saying college education should only be for wealthy people who can afford to pay the full amount? Why not all education? How about healthcare? Maybe that should only be for rich people too?
As a society, I think you can make a pretty reasonable case that we want to kids from lower income families to have access to higher education (among other things). There are lots of benefits to society as a whole for doing this. And since universities get tax breaks and the public ones are state funded, it seems like a legitimate part of their mission.
Boy did I misread the OP. I thought s/he was low income and asking for what schools meet need.
@austinmshauri I’m not here to be told im a “bad person” by a stranger I’m not looking at this in an ethical way im simply thinking about the economic output that results from admitting low income student, in my opinion i hate colleges giving aid to low income students because this screws over middle class people like me. Please only comment if you understand the economic positives of admitting low income student i dont care about what you think of me as a person
OP, judging by your username and posting history you intend to go to one of the California publics. Great, most of my family on my mom’s side is a product of the UC/CSU/CC system.
My mom grew up in a poor household with three other siblings. All of them relied on aid to go to college. Because they were able to go to college, and then graduate school, they became working professionals who give money to the state of California and allow people like you to pursue higher education through one of three public systems in the state. Had financial aid not existed, these doctors, lawyers, bankers, business owners, and teachers likely would have been stuck in low wage, no growth jobs. They would have cost the state and federal government money. So yea, why do colleges spend money on giving low income people financial aid? Because when they do, great things will come from it.
Because some of us LOW INCOME students/alumni become Middle class people who appreciate that the taxpayers of my state educated me, so that I could earn decent wages and repay a significant amount of taxes to generate more seats at the public U’s.
Now that I am middle class, I don’t like the way the tuitions have increased but I now have a choice and can choose to tell my middle class children that they can go to their schools and I will pay.
Oh and by the way OP, UC Santa Cruz participates in the blue and gold program which intends to help make college affordable for many in the middle class.
From the point of view of states like California, offering all academically talented students a chance to afford college even if they come from poor families is of economic benefit to the economy, since they will be able to do more skilled jobs that will be paid more, resulting in a larger overall economy and higher tax revenues. The larger overall economy benefits middle and upper income people as well, since their jobs and businesses benefit when poor people become non-poor or less poor and can spend more on products and services that sustain their jobs and businesses.
Some other states like Illinois and Pennsylvania offer too little need-based aid to in-state students from poor families to make state universities affordable for them, so they may have a viewpoint more in line with yours.
Private schools can do whatever they want. Look up the economic concept of price discrimination to see what is often the case with private schools (and, to some extent, public schools).
Education is a non-rival, non-excludable public good that will always be under-produced without some form of intervention (e.g. financial aid to low income students). Rising tides lift all boats. 
thank you and i see how it helps society but still dont see why colleges(privates mostly) would benefit from offering aid
BucketsUCSC: Wow. And you don’t care what people think of you as a person…Is that a value of your middle class upbringing?
I agree, why are you so angry at anyone receiving aid other than you???
Who took away your Wheaties? Are you in college?
Or can we assume that that naivety is from a high school student who can read what the other posters have so eloquently posted, but can’t interpret the message. Low SAT score?
I agree with @waiting2exhale.
Because Mark Zuckerberg wasn’t born a billionaire - the short answer. There’s also the benefit of appearing altruistic to others, contributing to the common good, etc. Google altruism and you’ll find your answers.
Note that most private schools do not have good financial aid. The ones that do are usually the most selective ones.
Their motivation is likely that they see the student that they admitted as a desirable one, so they will offer the student a net price that the student is likely to be able to afford. That could mean a lot of financial aid grants if the student comes from a poor family.
@auntbea I’m not angry in theory it is fair for all students to receive an education but them recieving all that financial aid is leading to middle class people like me having to foot a larger college tuition, and my parents having to pay more money because they know how to manage their finances. Yes I am a high school student and I’m not angry because of my stats I feel i can get into the colleges i want to go to, i simply dont want to pay more tuition because lower class students are recieving more financial aid
I do care about what people think of me as a person i dont care what peoiple think aboout @BucketsUCSC a character on CC that doesnt exist in real life or affect my personal life
I see that but getting a mark zuckenburg is rare so wouldnt they be losing millions of dollars getting low class “desirable students”
OP, it might be an interesting exercise to look into the mission of some of the colleges and universities in the US. For many, mission is a binding, guiding influence and directive in how these institutions are run. I have selected some information regarding one public (UVA) and one private (Stanford) for your perusal.
“The University of Virginia is a public institution of higher learning guided by a founding vision of discovery, innovation, and development of the full potential of talented students from all walks of life.”
Regarding the mission of the Stanfords, founders of Stanford University:
’ "From the outset they made some untraditional choices: the university would be coeducational, in a time when most were all-male; non-denominational, when most were associated with a religious organization; and avowedly practical, producing “cultured and useful citizens.” ’