| TD, just want to let you know that my daughter informed me of yet another student Smith lost because they offered an inferior aid package compared to peers. Although the student asked for the package to be re-evaluated, Smith did not increase anything in the end, so she went elsewhere.
According to the buzz on campus (which isn't always to be trusted), Smith has done some major cutting this year, both in financial aid and in program support. I don't know much about Smith's endowment, but it's possible the college took a major hit in the stock market/economic downturn.
That's not to say that Smith is downgrading its academics. In the competitive field of its peers, it cannot afford to do so. | 
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