Oct 6, 2021, 1:23 PM
(From Bloomberg) U.S. colleges are under increased pressure to spend more on financial aid and salaries after their endowments posted some of the strongest returns in decades. Washington University in St. Louis announced Monday that it will deploy $1 billion on financial aid, most of it for “need-blind” admissions, which means it won’t consider students’ ability to pay when accepting them. By becoming need blind, Washington University is embracing a policy of the Ivy League, Stanford University, the University of Chicago and about 60-plus colleges and universities. Experts in higher education finance predict that more colleges are expected to increase financial aid dollars to hold down the growth of tuition cost in coming years, reports Bloomberg.
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