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| Username | Post: Penn Offers Scholarships! | |
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T.P.F.K.A.D.W. PhD Student Posts 1173 |
03-23-06 07:48 PM - Post#18653
Just kidding. That was to get your attention. But the U did offer this press release today: University of Pennsylvania Will Pay Tuition and Room and Board for Families Earning Less Than $50,000 (http://www.upenn.edu/pennnews/article.php?id=925) Will this have any effect on Fran's ability to recruit? How many top recruited athletes can a) meet the admissions standards and b) come from families making less than $50,000 a year? What was the financial aid package for these kids before? Anyone out there think this could help get maybe one stud a year who otherwise might have gone to another school offering scholarships? |
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Penn90 Masters Student Posts 575 
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03-23-06 08:08 PM - Post#18654
President Gutman's entire fundraising pitch is centered around building the scholarship endowment, which is smaller than every other Ivy, Stanford and MIT. More than 40% of undergraduates receive financial aid from the University. For FY'06, only 12% is covered through income from Penn's scholarship endowment. The remaining $70.4 million is funded from Penn's general operating budget. By comparison, Princeton's scholarship endowment covers 100%. Pardon the pun, but Gutman is putting a full-court press on alums, offering a match deal: you endow a scholarship for approximately $365K and tailor it the way you want, i.e., make it for a student from the DC area or a nursing major, etc. Theoretically -- and correct me if I am wrong -- an alumni-endowed scholarship could be for a student who wants to compete in a sport. Possible legality of the endowed scholarship aside (I like the idea of Andreas Schreiber being the Penn90 Scholarship winner for a freshman who intends to play men's hoops), there's a logistical problem that makes it less attractive than your standard athletic scholarship. That is, some poor schnook in Admissions must pore over every kid who will attend Penn, examine their financial needs, and then match it with the scholarship that fits best. Tedious, to say the least. And not as quick-and-easy as an an athletic scholarship. Again, I have no idea if you can endow a men's hoops scholarship, but within five years Penn's scholarship endowment will be much closer to Princeton, Harvard, etc., than it is now. Based on the above press release, it sounds like Penn is making progress in the fundraising drive.
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AsiaSunset Postdoc Posts 4367 |
03-23-06 08:35 PM - Post#18655
All the existing scholarship programs are need based and are given to a subset of our entire need based population based on merit/laedership/special abilities criteria. This is a sweetening of the pot for an entire segment of the need based population. It's pretty aggressive for Penn and goes well beyond Harvard's existing program (which I'm sure they'll modify shortly in response). This is a real feather in Gutman's cap. Well done Amy. |
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Big R&B Truth Masters Student Posts 427 
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03-24-06 12:02 AM - Post#18656
Harvard already does this. |
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