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The new FAFSA form, launched Dec. 31, has already presented several challenges for minority students....The change in aid eligibility for some families with multiple college students may be substantial. "The price tag is about to go up a lot, and they don't even know it," Phillip Levine, a professor of economics at Wellesley College told The New York Times.
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Philip Levine, an economics professor at Wellesley College and one of the study’s authors, said that if colleges can’t support lower-income students with sufficient financial aid to make their degrees affordable, admitting them could prove an empty gesture. “It’s difficult not to support this philosophically, because selective colleges really do have a major socioeconomic disparity problem,” he said. “But this is a resource issue … The financial aid system is already woefully inadequate. It’s just a matter of crunching the numbers.”