This week, given where we are in the calendar, we bring you an abbreviated weekly update…IYKYK! What got our attention this week? There was financial aid news from Brown and reports that profits plummeted at both The College Board and ACT…by a lot.
After seeing record returns on its endowment and strong fundraising performance, Brown University is making significant changes to its financial aid policies. The university is planning to increase scholarships for students from moderate-income families, take steps toward need-blind admissions for international students, and create a program that prepares local Providence students for college.
The Chronicle of Higher Education reported that the College Board (SAT) and ACT took in a lot less money this past year. The pandemic turned admissions testing upside down and, in calendar year 2020, revenue for The College Board fell by $286 million while ACT’s profits fell by $100 million.
That’s it for this week.
We hope everyone joins us in a long-awaited, deep breath now that we’re at the finish line for early applications!