Did you know that there is a law that allows Ivy League universities to collude on financial aid awards?
Finance 101 would indicate that since they know what their competitors would offer, they offer less than they would otherwise for top flight students.
The upside to all of this is that this law, Section 568 of the Higher Education Act, expires in September 2022.
The downside is that the Ivys (Ivies?) can spend the next year lobbying for an extension, as I am sure that they will.
Given that each of the schools have enormous endowments, Harvard's is $40,900,000,000.00 (even after the predations when Larry Summers was president) about $1.8 million per student, their claim that they won't have enough money if they have to compete is complete pants.
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