The public focuses, understandably, on rising college tuition rates, but the actual cost of higher education is not covered by tuition. At Cornell University, for example, the cost of education per student is approximately double the price of tuition, and that holds for many other institutions of higher education as well. In effect, tuition is…

Explores the reaction of other institutions to Princeton's announcement that incoming freshman will receive grants rather than loans. Discusses the policy's implications for recruitment of the most talented students and available aid for low-income students. (EV)