Financial Aid Reform King Declares Victory
Written by Bwog Staff
CCSC President Seth Flaxman C’07 said when he got the “heads-up” on Monday from CU’s financial aid Powers that Be about the new financial aid policy, he joked with Dean Colombo: “This is the quickest editorial turn-around ever!” (The editorial he co-wrote with Presidents emeritus
demanding financial aid reform came out in Spec just this past Friday).
While Seth admits the new initiative came right from the top, he says FAiR’s big push last year for financial aid reform made a difference. “I do believe [the administration] wanted to do the right thing,” he says, “Students needed to push them on a faster time table, which is what happened last year.”
So Open Columbia kept its biggest promise — no matter how much Clinton-esque luck came in handy for them. Now what?
“After we make sure this is the policy that we want, I would totally go to bat with the administration to help fund it [by appealing to alumni],” Flaxman says.
Meanwhile, Harvard’s endowment came out. It’s nearly $30 billion. Up from $18 billion in 2003 when Open Columbia were entering first-years — compare that to Columbia’s estimated endowment, $6 billion, and $4.5 billion in 2003.
How do you feel about that financial aid reform now?