EDITORIAL: Need-based guidelines

One of the obstacles that the University is trying to overcome is to develop a need-blind financial aid program that accommodates all students. By signing an agreement, along with 27 other schools, to follow new guidelines, Penn hopes to create a uniform undergraduate financial aid program.

Currently, disparities exist among universities' need-blind aid policies. Creating a single standard for providing aid to undergraduates is an admirable move on the part of the University. Penn should focus on putting more resources into financial aid to make its offerings more competetive.

But some of the parameters are controversial and pose no viable solution. One rule does not force parents to contribute more from a tax advantage college savings account than they do from their regular assets, thus not recognizing the stated purpose of such accounts.

However, it might be beneficial to create more specific rules for a smaller group of schools that have programs similar to that of Penn. More continuity can be achieved among a handful of institutions that are nearly identical in academic prestige and aid ability.

Harvard and Princeton, who did not sign the agreement, can offer larger aid packages than the guidelines would allow and maintain a competetive recruiting edge because of their endowments -- the new rules would be counterproductive. While these guidelines are admirable, ultimately Penn should try to build up its endowment so that every undergraduate will be offered ideal aid packages, which meet all of their needs.

Although the guidelines allow incoming students to choose a school based on its merits and not on the best aid package, the University needs to reform the rules that govern upperclassmen's financial aid so that current undergraduates are able to afford Penn for their entire time here.

By creating these guidelines, the University demonstrates its increasing commitment to meeting the financial needs of incoming students, but it is still unable to cater to the entire student body.

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