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Stephen Burd at the New America Foundation found almost two-thirds of private colleges for the 2010-2011 school year required students from families making $30,000 or less annually to pay more than $15,000 a year. 11 percent of students at Harvard and 14 percent at Yale received Pell grants. Harvard said the correct figure was 17 percent.
Burd said the findings dispute the claims of many wealthy colleges that financial-aid makes them affordable and their pursuit of prestige and revenue has led them to focus more on high-income students.
Amherst, Vassar and Grinnell reported more than 20 percent of their students had Pell grants.
Read the full article at http://www.bloomberg.com/news/2013-05-08/colleges-soak-poor-u-s-students-while-funneling-aid-to-rich.html
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