Yale students stage sit-in over financial aid policy

Fifteen Yale students staged an eight-hour-long sit-in at the university's admissions office Thursday in an attempt to force the administration to reform the way they give financial aid.

More than 100 other students rallied outside in support of the protesters, who called for immediate action to be taken by the Yale Corporation and Yale President Richard Levin.

The sit-in came in response to Levin's announcement last Tuesday that he would make serious changes to the financial aid policy while offering no clear timeline.

"Levin left a lot of students personally insulted. ... He came off as completely out of touch," said Yale junior Josh Eidelson, a spokesman for the Undergraduate Organizing Committee -- the group that planned the sit-in.

"Levin made it clear he saw this as an issue of incremental reforms" and not rapid change, Eidelson added.

Students said Yale's financial aid policy lags behind those of Princeton, which eliminated loans four years ago, and Harvard, which instituted a policy last year to provide full aid to low-income families.

Both Princeton and Harvard offer financial aid packages that do not leave students with significant debt after graduation. Yale students believe their system should model the other two schools'.

Much of the money for financial aid grants comes from university endowments, of which Harvard, Yale and Princeton have the three largest in the nation, respectively.

The UOC is fighting for Yale to increase aid for low-income students and to reduce student obligation to Yale's equivalent of work-study by half so students will have time to participate in other activities.

"Yale spends about 5.25 [percent] of its endowment per year, while Harvard expends about 7" percent, Eidelson said. "The reforms we are asking for -- while they would have significant effect on the lives of the students -- would cost Yale very little."

"It is not a question of ability, it is a question of priority," he added.

The protest ended when the students were led out of the building and arrested for trespassing.

As at Yale, 40 percent of Penn students are eligible for financial aid.

However, according to College Dean Dennis DeTurck, Penn is unlike Yale in terms of its ability to provide financial assistance.

"I think the issues are different here at Penn," said DeTurck, who is on the Committee on Admissions and Financial Aid. "Penn is obviously an expensive place to come, and we do give a lot of financial aid-- -- some in terms of grants and some in terms of loans."

"In terms of endowment, we are not in the position to provide loan-free financial aid like other institutions," DeTurck continued.

The average Penn student who receives financial aid graduates with a debt of about $20,000.

Penn's endowment is valued at $4.2 billion -- an sum that nonetheless pales in comparison to Harvard's $22.1 billion, Yale's $12.7 billion and Princeton's $9.9 billion.

According to DeTurck, most students understand the limitation placed on financial aid due to the limited endowment.

"I have always been impressed at the the extent to which the financial aid office manages to compete successfully with the Harvards, Princetons and Yales," DeTurck said.

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