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Article: Will College-Bound Blacks Benefit From the Princeton Model of Financial Aid?
- Article from:
- The Journal of Blacks in Higher Education
- Article date:
- December 31, 1998
- Author:
CopyrightCopyright CH II Publishers, Inc. Dec 31, 1998. Provided by ProQuest LLC. (Hide copyright information)
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Will College-Bound Blacks Benefit From the Princeton Model of Financial Aid?
NEXT FALL INCOMING freshmen at Princeton University will be asked to pay a comprehensive fee covering tuition, room, and board of more than $30,500. These fees are out of reach for all but a very few black families. In the United States, the median black family income of $23,482 is only 59 percent of the median white family income. Only 9 percent of all black families have incomes of $75,000 or more compared to 22 percent of white families. Even for middle-class black families with higher than average incomes, in most cases there is very little in the way of family wealth that can be used to finance their ...