EDITORIAL: Keeping up with competition

A new program makes it easier for some students to pay for Penn, but raises policy questions. The program will allow up to 50 incoming freshmen to receive loan-free financial aid packages, funded by grants and work-study earnings. It will make higher education accessible to a greater number of students, since they won't have to pay off years and years of loans. It will strengthen the profile of the undergraduate population. And it will allow Penn to hold on to some of the students it might have lost to schools that have followed Princeton University's lead in revamping their financial aid system. It must be noted, however, that while Princeton and Yale universities' larger endowments -- at $4.94 billion and $5.74 billion respectively -- allow them to offer loan-free aid to all prospective students falling within certain financial parameters, Penn's $2.89 billion endowment and larger student body necessitates a more limited program. The 50 Trustee Scholars, therefore, will be selected from the most outstanding aid-eligible students. As the cr_me de la cr_me, they will likely have a definite positive impact on campus life. But the move raises questions about adherence to the Ivy League ban on merit scholarships. Is Penn crossing the gray line that defines merit-based aid? How different is this from when coaches help put together financial aid packages for prospective-student athletes? Is it time for the Ivy League to reconsider its stance on merit scholarships? These are questions that must be addressed as Penn and the other Ivies continue to redefine the possibilities for financial aid in the 21st century.