Michael T. Nietzel, Forbes
It takes institutional courage to quit the ratings rat-race and replace merit awards, which go disproportionately to middle or upper-class students, with need-based aid that enables poor students to attend college. Franklin and Marshall College summoned that courage, when it ended almost all merit scholarships, redirecting those funds to students in financial need. The results? The percentage of Pell recipients more than doubled, overall enrollment held steady, and for those who care, Franklin and Marshall continues to fare well in national ratings. More colleges need to follow its lead. Declining confidence in higher education is not merely a partisan issue. It signals that real reforms are necessary. Changing how we finance institutions and fund students are two changes that can restore some lost confidence.
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