<p>The 60% is need-based (you can look that up in the Common Data Set.) It includes 25% who are on Pell Grants (12% at Swarthmore, 9% at Williams; 9% at Princeton; 7% at Harvard - note, data on Pells is from 2003-2004). Amherst is up to almost 17%; but less than 50% receive needbased aid (and of those who do, more than half are in the $100-$160k income group - there are very, very few middle income students.)</p>
<p>Note, that in our particular case, the merit aid simply supplanted need-based aid - the only benefit we received in that regard is that half of the tuition increases were mitigated. </p>
<p>(There is also a website that breaks down those receiving need-based aid by income group - I have to chase down “Carolyn” again to find it - but you’ll find the profiles much, much different. The Common Data Sets also show actual amounts spent on need-based aid - you can divide by the total number of students to get an aggregate picture.)</p>