If Not the NBP, Then What?
As I wrote in a post yesterday, it is standard practice for both public and private colleges and universities to use tuition revenue to provide financial aid. The typical challenge for public institutions is that they don't generate nearly as much revenue as private institutions, and thus don't have as much to contribute to aid. Among public institutions, the other significant challenge to ensuring affordability is convincing administrators to focus aid on financial need, rather than academic merit. One of the strong points of Chancellor Martin's arguments for the NBP is that UW-Madison ought to be able to use tuition to support need-based aid, if it so chooses. It has chosen to do so recently, under the Madison Initiative for Undergraduates. I base that last statement on the clear upward trajectory of resources for institutional need-based aid (what she says is a 226% increase), shown in a graph provided by the director of financial aid, Susan Fischer, at a recent mee...