Word: overlaps
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SINCE THE 1950s, the 23 colleges that make up the Ivy Overlap Group have met annually to adjust financial aid packages for students who applied to more than one member of the group. Last month, the Overlap schools decided not to hold their annual meeting...
...Overlap is collusion and collusion is illegal. Overlap universities protect their financial aid packages from free market competition. But is this a bad thing...
SOME CLAIM that ending overlap will sap academic programs, cut into faculty and staff salaries, force layoffs, threaten need-blind admissions, discourage growth. But no one really knows what the effects of competition will be, primarily because the people with access to the data are under investigation and are unwilling to talk. But most indications are that free market competition will benefit students and promote the colleges' academic missions...
...fact, incoming President Neil L. Rudenstine has done extensive research in this area.) But some schools certainly seem to think that increasing financial aid packages will improve the likelihood that an admittee will matriculate. Stanford, for example, has consistently offered more lucrative aid packages than members of the overlap group...
...When overlap ends, schools will give more money to the students they want the most. Minorities, academic aces and athletic recruits will benefit the most. But marginal admittees could benefit, too. Remember, Harvard prides itself on its unequalled yield rate. Harvard wants to attract the top 1600 students that apply. In the open market, Harvard--and other schools--will have to jack up their aid packages for everyone...