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Affordability: Family Incomes and Net Prices at Highly Selective Private Colleges and Universities

  • Gordon C. Winston
  • Catharine B. Hill
  • Stephanie Boyd

Working from the financial aid records of individual students at 28 highly selective private colleges and universities, we were able to calculate both the price the low-income students at these schools actually pay for a year’s education,net of financial aid grants, and how the schools differentiate net price in recognition of their students’ different family incomes—their pricing policies.

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Paper provided by Department of Economics, Williams College in its series Williams Project on the Economics of Higher Education with number DP-66.

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Length: 22 pages
Date of creation: Oct 2003
Date of revision: Jan 2004
Publication status: Published in Journal of Human Resources, Fall 2005, v. 40, iss. 4, pp. 769-90
Handle: RePEc:wil:wilehe:66
Contact details of provider: Postal: Williamstown, MA 01267
Phone: 413 597 2476
Fax: 413 597 4045
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  1. Christopher Avery & Caroline M. Hoxby, 2003. "Do and Should Financial Aid Packages Affect Students' College Choices?," NBER Working Papers 9482, National Bureau of Economic Research, Inc.
  2. Gordon C. Winston & Jared C. Carbone & Laurie C. Hurshman, 2001. "Saving, Wealth, Performance, and Revenues in US Colleges and Universities," Williams Project on the Economics of Higher Education DP-59, Department of Economics, Williams College.
  3. Richard Steinberg & Burton A. Weisbrod, . "Pricing and Rationing by Nonprofit Organizations with Distributional Objectives," IPR working papers 97-28, Institute for Policy Resarch at Northwestern University.
  4. Gordon C. Winston, 1999. "Subsidies, Hierarchy and Peers: The Awkward Economics of Higher Education," Journal of Economic Perspectives, American Economic Association, vol. 13(1), pages 13-36, Winter.
  5. Gordon C. Winston & Ethan G. Lewis, 1997. "Physical Capital and Capital Service Costs in U.S. Colleges and Universities: 1993," Eastern Economic Journal, Eastern Economic Association, vol. 23(2), pages 165-189, Spring.
  6. Thomas J. Kane, 1995. "Rising Public College Tuition and College Entry: How Well Do Public Subsidies Promote Access to College?," NBER Working Papers 5164, National Bureau of Economic Research, Inc.
  7. Ronald G. Ehrenberg & Daniel R. Sherman, 1982. "Optimal Financial Aid Policies for a Selective University," NBER Working Papers 1014, National Bureau of Economic Research, Inc.
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