Word: aid
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...success of Citi's dealmakers comes as a surprise because the sprawling bank has generated nothing but frightening headlines in recent months. Like the other big banks, Citi received billions in aid from the government, and has been back to the government's well more often than most. Last month, the Treasury, along with private investors, agreed to convert some of their Citigroup preferred shares into common stock, which will strengthen the company's capital position. All told, the government has injected $45 billion into Citi by buying preferred shares; it has also insured the bank against losses...
Skidmore has boosted its financial-aid budget 8% this year by trimming travel, faculty raises, renovation plans and commencement festivities. While the cost of attending the college rose $2,000 this year, the average aid award increased $2,300. In addition to $7,000 worth of federal and state grants, work-study earnings and federal loans, the average financial-aid applicant will pocket $28,000 in Skidmore grants. Skidmore, like many of its peer schools, also allocates funding for superstars with financial need, a practice known as "preferential packaging." The most desirable students--the ones who blew...
Such financial uncertainty is stoking fears of backsliding to an era when private colleges were the ivy-covered province of the privileged. Skidmore assistant director of admissions Marisa Ferrara fielded her first ever requests this year from parents rescinding financial-aid applications at the eleventh hour for fear that they would harm their children's chances of getting in. "They're feeling this guilt," Ferrara recalls of a phone call with one such parent. "You could almost hear it in this mother's voice, saying, 'I'll do anything. I don't want my kid not to get in because...
...discussion forum College Confidential.com a February thread debating whether applying for aid will hurt a student's chances of getting admitted has been viewed nearly 25,000 times. At Skidmore, one figure suggests the answer is yes: students of color, who disproportionately applied for financial aid, made up a higher percentage of this year's applicant pool than last year's. But reflecting "the demands of financial aid," says Bates, they make up only 24% of the admitted pool this year, in contrast to 28% last year. "You've always been in an advantaged position to be rich and smart...
...Obama's budget resolution, which is more of a blueprint for future spending than any kind of binding legislation. But the Administration put its best spin on the differences, arguing that Congress's offerings retained the commitment to the President's four "core principles" - universal health care, expanded education aid, renewable-energy investments and regulation of greenhouse gases, and provisions to halve the deficit in five years...