Word: aides
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Dates: during 1990-1999
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Princeton's percentage of students receiving financial aid had dropped to 39 percent last year--an embarrassing five or six points below schools like Harvard in a era painfully conscious of diversity. Alumni were talking about a "lingering F. Scott Fitzgerald aura...
...Aid insiders said Yale--which frequently fights Princeton for the same pool of middle-class students--had to change its policies or face serious recruiting trouble. Yale officials admitted after the announcement that "[their] timing was related to Princeton's announcement...
Under traditional policies like the one Harvard used through this spring, 60 percent of outside scholarships are applied towards reducing outright aid, and 40 percent towards cutting loans. Stanford now uses scholarships to completely eliminate loans and work-study before applying them against grants...
...next policy overhaul occurred a month later at MIT. Officials there reduced self-help requirements--loans and work-study contributions built into nearly every aid package--by $1,000 for all students. They said the changes were spurred by the increased generosity of Yale, Princeton and Stanford...
...When that stuff hit the news, it definitely entered into our decision-making process," said MIT Director of Financial Aid Stanley G. Hudson...