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Grinnell Considers Cutting Need-Blind: A Comparison

Grinnell, like Wesleyan, is considering some fierce changes to its financial aid policies. As Kevin Kiley of Inside Higher Ed, the same writer who reported on Wesleyan’s policy change this summer, writes:

Grinnell College, which this year reported the fifth-largest endowment of any liberal arts college, announced Thursday that it would spend the next few months engaged in a conversation with campus stakeholders about changing its financial aid policies—including potentially, but probably not, going as far as making changes to need-blind admission.

Grinnell has about 1700 students and an endowment of roughly $1.5 billion. This puts their endowment per capita in the range of $800,000, or roughly four times that of Wesleyan. However, “the amount [Grinnell] spends on financial aid as a portion of its gross tuition revenue” is currently above 60%, while Wesleyan’s is only projected to be to be 37% in 2012.

As Kiley notes, Grinnell’s finances are in wonderful shape as compared with other top liberal arts colleges (including Wesleyan), and its announcement “could be a bellwether that the sector as a whole is reconsidering the model.”