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Colleges use aid to lure wealthier students at expense of poorer families, report says

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Many colleges, including several Boston-area schools, are increasingly using financial aid to attract wealthier students at the expense of their low-income peers, according to a new report.

The report, released Wednesday by the New America Foundation, analyzed US Education Department data for the 2010-2011 school year. It found that hundreds of colleges across the country expect low-income students – those whose parents make $30,000 or less each year – to pay amounts equal to or more than their families’ annual salary.

“I don’t think its an accident that it’s occurring, and it makes sort of sense from an institution’s point of view — they want to be the best they can be,” said Stephen Burd, the author of the report.

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