2008 Woodie Awards
Financial aid numbers dip for a second year
While U.S. students of color see a jump in their numbers, fewer students apply for financial aid awards
By: Annie Lewine, Associate News Editor
Issue date: 9/28/07 Section: News
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Correction: Please note that The Mac Weekly is correcting the article it originally published about the number of students receiving need-based financial aid. A reporter's error in calculating the statistics originally published led to numbers lower than what the actual data reflect. The text below reflects the corrections made.
See "A Note from the Editor, Oct. 5, 2007.
The number of incoming Macalester students receiving need-based financial aid continues to decrease more than two years after the Board of Trustees voted to move the college to a need-aware admissions system. This dip coincides with another trend: as Macalester becomes better known nationally, the percentage of students from Minnesota and the four bordering states has been shrinking.
Since the fall of 2005, the percentage of domestic first-year students receiving need-based financial aid has dropped slightly. This fall, 66.2 percent of first-years receive financial aid, down from 70.1 percent of first-years in the fall of 2005 and 66.9 percent in the fall of 2006.
The number of admitted students requesting financial assistance has also dropped. In the fall of 2005, 311 admitted domestic students applied for financial aid awards; the college granted 267 requests. Financial aid applications from incoming students were down to 270 this fall, and the college granted 238 awards. The percentage of domestic students receiving need-based aid does not include scholarships and aid provided for international students.
The class of 2011 is the second class to have been admitted under a need-aware admissions policy, through which an applicant's ability to pay can be a consideration in the admissions process. Until admitting the class of 2010, Macalester called itself need-blind, meaning that the college did not consider applicants' ability to pay when making admissions decisions.
See "A Note from the Editor, Oct. 5, 2007.
The number of incoming Macalester students receiving need-based financial aid continues to decrease more than two years after the Board of Trustees voted to move the college to a need-aware admissions system. This dip coincides with another trend: as Macalester becomes better known nationally, the percentage of students from Minnesota and the four bordering states has been shrinking.
Since the fall of 2005, the percentage of domestic first-year students receiving need-based financial aid has dropped slightly. This fall, 66.2 percent of first-years receive financial aid, down from 70.1 percent of first-years in the fall of 2005 and 66.9 percent in the fall of 2006.
The number of admitted students requesting financial assistance has also dropped. In the fall of 2005, 311 admitted domestic students applied for financial aid awards; the college granted 267 requests. Financial aid applications from incoming students were down to 270 this fall, and the college granted 238 awards. The percentage of domestic students receiving need-based aid does not include scholarships and aid provided for international students.
The class of 2011 is the second class to have been admitted under a need-aware admissions policy, through which an applicant's ability to pay can be a consideration in the admissions process. Until admitting the class of 2010, Macalester called itself need-blind, meaning that the college did not consider applicants' ability to pay when making admissions decisions.
Viewing Comments 1 - 10 of 20
Brian Lindeman
posted 9/28/07 @ 10:59 AM CST
I am writing to correct several errors in the September 28, 2007 Mac Weekly story Financial aid numbers dip for a second year. It is important for Macalester community members to understand the nature of our financial aid philosophy and the impact on our student body. (Continued…)
Mac Alum
posted 9/29/07 @ 12:13 PM CST
Macalester has one of the largest endowments of liberal arts colleges - far larger than in the 1980s when I was a student, and when Macalester had need-blind admissions and met students' full financial need. (Continued…)
Mac Alum
posted 9/30/07 @ 1:58 PM CST
From Macalester's OWN webpage:
The 1990s have been another turning point in Macalester's history. In 1991, the College's endowment became one of the largest among liberal arts colleges in the U. (Continued…)
Mac Alum
posted 9/30/07 @ 11:42 PM CST
http://media.www.themacweekly.com/media/storage/paper1230/news/2006/11/18/News/An.Exegesis.Of.The.Endowment-2944379-page2.shtml
From Mac Weekly Issue date: 11/18/06
Today, Macalester's endowment is still the 15th largest among liberal arts colleges according to the college's Office of Institutional Research. (Continued…)
Mac Alum 2
posted 10/01/07 @ 2:50 PM CST
Sorry, Mac Alum. I see your confusion. Macalester has always considered ability to pay tuition in international student admissions. I didn't make that completely clear. (Continued…)
Mac Alum
posted 10/02/07 @ 12:08 PM CST
I frankly don't agree with MacAlum2 about it being inappropriate to stop donating when the college is doing something fundamentally wrong. There are other ways to help out Macalester students directly which don't involve giving money to the college (and if Macalester eventually rolls back the policy, one can always give more to make up for the withheld donations). (Continued…)
MacAlum2
posted 10/02/07 @ 12:36 PM CST
We have the option to give restricted gifts which can only be used for financial aid. How can the policy ever be rolled back if such gifts aren't given?
You may think need-aware admissions isn't strictly necessary. (Continued…)
Mac Alum
posted 10/02/07 @ 12:38 PM CST
According to the Chronicle of Higher Education, in 2004-4005, Macalester College president Brian C. Rosenberg
was paid $325,139 plus $56,798 in benefits for a total of $381,937. (Continued…)
MacAlum2
posted 10/02/07 @ 3:00 PM CST
You're right. Peer schools like Carleton pay more. Other schools, like say Hamline, pay less.
This isn't because Macalester "pays too much." This is because Macalester provides a better education. (Continued…)
Mac Alum
posted 10/02/07 @ 3:37 PM CST
Given the much higher cost of living at many of Macalester's "peer institutions" (where buying an equivalent house can cost 2-4 times more than it does in the Twin Cities), one can argue that Macalester's salary levels are (almost) as high as at its peer institutions, if salaries normalized against the cost of living in each area. (Continued…)
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