With college acceptance and rejection letters hitting mailboxes this week, the economic meltdown has already dramatically changed the game of getting in. Students are transferring to cheaper schools, more parents are bribing the back office, and endowments are plummeting. A crib sheet to the changing rules of college economics.
Giving Money to Your Alma Mater is Immoral
Zac Bissonnette is an editor with AOL Money & Finance and its new personal finance site WalletPOP.com. He is a sophomore at the University of Massachusetts Amherst.
By subsidizing the irresponsible financial decisions of your old school, you're helping it keep tuition costs out of reach for all but the richest of students.
Lloyd Grove is editor at large for The Daily Beast. He is also a frequent contributor to New York magazine and was a contributing editor for Condé Nast Portfolio. He wrote a gossip column for the New York Daily News from 2003 to 2006. Prior to that, he wrote the Reliable Source column for the Washington Post, where he spent 23 years covering politics, the media, and other subjects.
The Daily Beast Video curates the most essential and entertaining video, and brings you original and exclusive productions from our talented contributors.
Peter Beinart, senior political writer for The Daily Beast, is a professor of journalism and political science at City University of New York and a senior fellow at the New America Foundation.
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