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Colleges Give Rich Kids a Leg Up This Year

Though some have speculated that the recession might create more equality in the domestic sphere, apparently the recession means less of an even playing field when it comes to college admissions. According to the New York Times, in this time of plummeting endowments, colleges may be looking more favorably on students who can afford tuition without financial aid.

Colleges say they are not backing away from their desire to serve less affluent students; if anything, they say, taking more students who can afford to pay full price or close to it allows them to better afford those who cannot. But they say the inevitable result is that needier students will be shifted down to the less expensive and less prestigious institutions.

I wonder if this is such a terrible thing. Even without the recession, my generation is crippled with staggering debt, mostly from higher education. If there's no guaranteed reward of a moderately well-paying job at the other end, is it worth going into serious financial jeopardy so you can have an Ivy League degree?