Expensive Colleges Can Be Affordable

By Richard H. Brodhead

Wednesday, December 12, 2007

Note to Editors: Richard H. Brodhead is president of Duke University. This article originally appeared in the News & Observer of Raleigh.

Durham, NC -- A large number of high schools seniors with sky-high SAT scores and grade point averages are about to make one of the most important decisions of their young lives based on a faulty assumption.

With the year-end deadline for college applications just days away, students and families across the country are wondering how they'll pay for college. For students from lower- and middle-income families, there's a counterintuitive solution that could not only pay their bills but transform their lives: They should also apply to places such as Duke, Stanford, Amherst and Yale.

Apply to some of the most expensive private schools in the country? Exactly so.

In recent years, with relatively little fanfare, these and other leading colleges and universities have expanded their financial aid dramatically. Although the annual "sticker price" may exceed $45,000, the actual cost for these families can be a tiny fraction of that amount, with tuition waived entirely for some families.

Many of the schools also offer generous financial aid to students from the majority of American families that are middle class but hardly able to write a $45,000 check each year for four years.

To be sure, our country's top students can also get a superb education at a public university, such as at the University of North Carolina instead of Duke, or at Berkeley instead of Stanford. They may well prefer one of these or another kind of school, such as a military academy, a historically black campus or a community college. But our most talented young people should make this choice on the basis of "fit" -- where they expect to be happy and successful -- rather than money.

Such concern may sound crazy to the frazzle parents of a high school senior who has just spent the past year looking at college websites, touring campuses and filling out applications. They know how difficult it is already to gain admission to a place such as Duke. Why encourage even more students to consider applying?

The answer is fairness. With their outstanding faculties, resources and student bodies, top private universities can not only expand minds but open doors for a lifetime. They are not unique in this, nor are they always the best match for a student. But in a society that values individual ability over family wealth, the most deserving students who want to attend these schools should not have their options limited because of money.

Several leading colleges and universities -- Columbia, Davidson, Emory, Princeton, Wesleyan and Williams among them -- have announced measures to replace some or all student loans with grants and to reduce or eliminate the amounts parents pay. Harvard announced a new plan on Monday.

Duke has long had a "need-blind" admissions policy that accepts students without regard to family income. This past weekend, we expanded financial aid, no longer requiring a contribution from the parents of families that earn less than $60,000, which is slightly above the national median family income. We also reduced loans for every student who receives aid and eliminated loans entirely for families earning less than $40,000 per year. Duke has budgeted $73.3 million for undergraduate, mainly need-based financial aid in this academic year, and projects spending some $86 million next year.

We and others are making such large investments because we consider it our mission to provide a high-quality education for all qualified students, regardless of how much money their families earn. We want to nurture their talents so they can better serve society. Welcoming the best of them with need-blind admissions and extensive financial aid also enhances our own communities, both in the classroom and across our campuses.

We know there are many outstanding students who could thrive at our university and extend our impact to a wider range of families. My counterparts at many other leading private universities feel the same way.

As the clock ticks down this month, high school seniors finishing up their college applications should re-examine their assumptions and realize how many choices they actually have.