Eschewing predatory college practices, Tufts commits to financial aid

The increasingly popularity and necessity of attending college has gradually transformed the professional world, and as a result, the college degree has become a tremendous marker of inequality. Today, college degrees provide the basic standard for employers to make hiring decisions. This dominating benchmark for assessing job seekers in the market has allowed colleges to set the cost for education outrageously high. Often times, this money is funneled directly into the salaries of administrators, as seen in a recent piece in the New York Times.

If universities will insist on reaping the rewards of this perverse marketplace, why can they not engage in a redistributive policy? To answer a complex question simply, they can. Colleges must focus on three things in the following order of priority: financial aid, educational improvements and then, finally, campus enhancements. What is important to note about that list is that it does not include paying administrators and trustees huge sums of money. Awarding seven-figure salaries for administrators while students scrimp and save in order to stay in school is not fair.

As colleges compete to market themselves by polishing their aesthetic attractiveness, students and parents confront the costs of the constantly rising tuition fees. As higher education becomes more and more competitive, it is a sad truth that financially strapped students will end up having to bear larger and larger burdens.

With U.S. college graduates’ debts reaching upwards of $1 trillionand the grim economics of higher education being felt by parents and students across the country, Tufts University’s commitment to democratizing education is a silver lining that we hope to see at more academic institutions. President Monaco ensured that financial aid for students is the university’s top priority, and the university is striving to reach the $100 million goal in its fundraising project to increase the pool of resources allocated to providing Tufts students the luxury of the college experience. In addition, yesterday's move to accept undocumented applicants and provide them with financial aid is another bright spot. Tufts should be praised for putting its money where its mouth is.