Just as a following up to our earlier post; there suddenly is a major move among many elite schools to reduce the amount of funding that college parents and students must provide. This trend is becoming very common among private colleges which have large endowments. They are often capping the amounts of parent contributions, reducing tuition, and limiting loan amounts. These reductions are generally focused on lower and and middle income families. For example, Stanford University just announced reduced tuition levels for families earning under $100,000 per year for the 2008/09 academic year.
A useful resource on the web is Finaid.com’s list of colleges that have reduced or eliminated loans and/or parent contributions: links.sfgate.com/ZCMS