Reply to In-state students from families earning less than $80K will be able to attend U.Va. tuition-free

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Yep, same question I had for Bernie:  Who's paying?[/quote]

Presumably the endowment. You got a problem with that?[/quote]hk

That would be a bad assumption.  This is really redistribution, with higher incomes paying full tuition and it being redistributed in the form of grants to lower income.  UVA has been doing this for a while.  UVA and W&M do this the most among Virginia public schools.[/quote]

Endowment is not likely the primary source for undergraduate financial grant aid.  Most endowment funds are restricted to a designated beneficiary.  Not too long ago, UVA's endowment allocation was 31% medical division, 10% athletics, 9% Darden, 4% Law.  None of these are going to fund undergraduate financial aid grants with their money.  Arts & Sciences, including grad students, is 55% of total enrollment but only 13% of endowment.  The most likely source of much of the financial aid is redistribution from higher income students that pay more than the cost of attendance.  OOS tuition is significantly above cost of attendance.  This is actually how private schools like Duke work as well.
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