Financial aid increases at many private colleges

Financial aid increases at many private colleges

In order to get in touch with their communities, a number of private universities are following a trend often implemented by state colleges, which is awarding tuition assistance to local residents. These financial aid programs are designed to increase the professional qualifications of those who live near the schools and to promote diversity among campuses.

The Smith College Sophian reports that Davis and Elkins College in West Virginia created a scholarship for local residents, in order to compete with larger universities in the area. The school is seeking students from areas in which few adults pursue higher education.

Also, Northwestern University recently launched the Good Neighbor, Great University scholarship for degree seekers who reside in the same town as the school. The institution designed this program in order to promote diversity and boost its connection to the community.

Smith College is also using location-based scholarships to attract applicants. The school currently offers a Trustee Grant, which provides aid for full-time students whose parents have resided in the area for a minimum five years.

According to the Bureau of Labor Statistics, tuition assistance is available in the form of scholarships, student loans, grants and federal work-study programs.

By Mark Danson