[Snorlax94]

I have no problems with the policies, or what is effectively merit aid.

First, I think Stanford can set whatever policies they want for admissions, scholarships, or aid. Trying to attract under-represented groups seems consistent with the university’s mission. Obviously, hedge-fund types aren’t an under-represented group, but there are legitimate reasons to target them — for one, they can bring and share an expertise with the class.

Second, I think merit-based “need” aid is quite commonplace. Although Stanford’s aid dept calculated my family needed only some loans to smooth out my tuition over maybe 6-8 years, a liberal arts college came to the conclusion thay my need was a grant basically covering all of tuition. It wasn’t labelled a scholarship, this all came from their financial aid dept.

Incidentally, I didn’t consider it a “bribe.” I just shrugged and figured they really wanted me, but I still chose Stanford.

What does bother me is the misrepresentation. Even if this is a widespread practice among universities, Stanford should accurately state their policies. As a practicality, it may be difficult — maybe there are financial implications for classifying funds as need-based aid or merit-based scholarships — but if Stanford or other universities accurately stated their policies and provided some transparency, I would think the practices described are otherwise fine.

[Snorlax94]

I have no problems with the policies, or what is effectively merit aid.

First, I think Stanford can set whatever policies they want for admissions, scholarships, or aid. Trying to attract under-represented groups seems consistent with the university’s mission. Obviously, hedge-fund types aren’t an under-represented group, but there are legitimate reasons to target them — for one, they can bring and share an expertise with the class.

Second, I think merit-based “need” aid is quite commonplace. Although Stanford’s aid dept calculated my family needed only some loans to smooth out my tuition over maybe 6-8 years, a liberal arts college came to the conclusion thay my need was a grant basically covering all of tuition. It wasn’t labelled a scholarship, this all came from their financial aid dept.

Incidentally, I didn’t consider it a “bribe.” I just shrugged and figured they really wanted me, but I still chose Stanford.

What does bother me is the misrepresentation. Even if this is a widespread practice among universities, Stanford should accurately state their policies. As a practicality, it may be difficult — maybe there are financial implications for classifying funds as need-based aid or merit-based scholarships — but if Stanford or other universities accurately stated their policies and provided some transparency, I would think the practices described are otherwise fine.