For the Wealthiest Colleges, How Many Low-income Students Are Enough?
Are the wealthiest colleges educating enough low-income students? It’s a question that’s been debated for years. Back in 2008, Sen. Charles E. Grassley, an Iowa Republican, argued that given their affluence and the tax breaks they enjoy, the richest colleges should do more. Concerns about the rich colleges pulling their weight died down in the wake of the recession, but have recently been bubbling up again. A couple of years ago, The New York Times created an index to measure "the most economically diverse top colleges," based in part on the percentage of their freshmen who are low-income. A recent podcast from the best-selling author Malcolm Gladwell suggested — controversially — that Bowdoin College could enroll more low-income students if it scaled back the caliber of food in its dining hall. A new paper from the Education Trust describes the progress wealthy colleges could make in enrolling and supporting low-income students if they increased their endowment spending even slightly.