A University's Big Move on Socioeconomic Diversity

This is the time of year when every selective college or university worth its salt boasts about the academic credentials ("more National Merit Scholars than ever before!"), geographic reach ("students from 49 states and 37 countries!"), and, increasingly, the diversity of its freshman class.  One such announcement comes from Boston University today, and amid the many data points about its Class of 2021, one in particular stands out. With a single change in its financial aid policies -- wiping out all loan funds for any student eligible for a Pell Grant -- the private research university increased the proportion of its first-year students who qualify for the federal grants for low-income students to 18.2 percent this fall, from 14.6 percent a year ago.