Staff Editorial: Small steps on financial aid

The UA's proposal to exempt some students from an aid requirement is a good idea. But much still has to be done. Under the UA plan, students on financial aid who wish to pursue other worthwhile activities can apply to be exempted from the summer earnings requirement. Currently, students are expected to contribute around $3,000 to their tuition from summer employment. For students who want to use the summer to travel, take classes or work at an unpaid internship, this requirement proves burdensome. The UA estimates that only a few dozen students a year will benefit from the program. Nonetheless, it does represent incremental progress in the area of helping students with financial need. We congratulate the UA for making a reasonable proposal to combat a well-defined problem, and we hope that the University will implement it with all due speed. More broadly, though, we hope the UA's efforts refocus the administration's attention on the general problems of financial aid at the University. Since 1998, Penn's peer institutions have raised the bar higher on financial aid, each trying to offer a better package than the others. Several schools have replaced loans with grants for students in certain income brackets, while others have given lump-sum grants to all aid recipients. However, financial considerations make it impossible for Penn to do so. The University's endowment is in the top 15 in the country, but on a per-student basis, ranks far lower. On that basis, an across-the-board financial aid increase -- like those proffered by Harvard, Princeton, Stanford or Yale -- is impracticable. But smaller, narrowly focused improvements in the financial aid system will help some students, and at a more manageable cost. The UA's proposal, therefore, should not be the last word on changes to Penn's financial aid system. Rather, it should be the beginning of a much longer and productive dialogue.