<p>I’m not quite sure how I was misleading, as I agree. When Princeton crafted it’s no-loan strategy, it was designed to offer small (around $5,000) tuition discounts to relatively wealthy admits, as a way of sweetening the pot in keeping admits from turning them down and accepting merit money at the Vanderbilts of the world. And, at the same time, it was effective in increasing (for public consumption) the percentage of students who they said received “need-based” aid (except it wasn’t really need-based at all.)</p>
<p>Now, to be fair, they did also increase the number of Pell Grant recipients attending, from roughly 6.5% to roughly 9.5%, a significant increase, even if it doesn’t represent that many students.</p>