Originally published on Thu March 21, 2013 10:37 am
Credit Kenyon College
A bunch of private colleges have been in a financial aid arms race for years now, offering bigger and bigger merit scholarships to lure the best students.
This is nice for the students who get big merit scholarships. But it's not so nice for everybody else. Colleges have to come up with the money for those merit scholarships somehow — and they've done it in part, by jacking up tuition. (We did a story on this last year.)
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