Word: formulaically
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...schools like Harvard inevitably get hurt. The longest-established college in the country, Harvard stands to lose around $6 million after a federal redistribution of grants recently proposed by the Bush administration. This is because some older New England schools, including Harvard, have profited from a skewed, outdated formula that determines how much federal aid each school gets...
...schools like it will lose, the system as it stands is blatantly unfair; reform is a bigger priority. We recognize that the University’s enormous endowment does not insulate it from million dollar losses in federal aid, but basic equity demands that we support a new federal formula...
...come with the reauthorization of the Higher Education Act (HEA) this year. First enacted in 1965, the HEA ratifies three essential federal student-aid programs—College Work-Study, Perkins Loans and Supplemental Educational Opportunity Grants. The inadequacy of the present allocation is unsurprising given that the underlying formula was devised more than 20 years ago. Known as the “base guarantee,” the formula in place now gives established colleges the same share of aid every year, and it has become progressively more out of touch with current changes in college demography. Increasingly...
...Congress on the Higher Education Act, for instance, the president suggests raising loan limits for college first-years—a move that will almost certainly amplify the financial burden of education for the nation’s neediest citizens. President Bush was right to ask for a new formula for distributing the federal funds already allocated for higher education. But if he really wants to make a difference, he has to get more money into the hands of those who need it most...
...seems that, according to the Undergraduate Council’s new formula to calculate their redistribution of students’ money, getting your name in the press under headlines containing the words “sex” and “Harvard” will guarantee you privileged funding. As co-founders of Cinematic, Harvard’s first and only magazine dedicated to film, we have been struggling for the past two years to get the magazine on its feet and establish a solid financial grounding for what has become very quickly a major academic reference within...