Colin S. Diver’s speeches, letters, and articles
The Current Economic Situation, Reed Admission, and Financial Aid
To all prospective students (and their parents) considering applying to be members of Reed’s Class of 2013:
Despite the economic uncertainty of the last few months, I would like to assure you of our continuing firm commitment to maintaining the high academic standards and the vibrant intellectual community that have come to define Reed College. As always, our priority will be on maintaining the extraordinary quality of the academic program. For example, we will continue to have very small classes—the size of the average class at Reed will remain at about 14 students—and the unusual commitment of our faculty to teaching excellence will continue to be at the heart of the Reed experience.
In addition, our admission and financial aid policies will continue to be formulated with the goal of making a Reed education accessible to the world’s brightest and most intellectually passionate students. I would like to underscore some facts about financial aid at Reed.
- Reed College meets the full demonstrated financial need of all admitted students.
- In recent years at least 50 percent of Reed students have received financial aid from the College.
- Reed is providing nearly $18 million in grants from its operating budget this year to financial aid recipients.
- Reed’s average financial aid package for 2007-08 was $32,620.
- The median family income for Reed students receiving financial aid is $61,167.
- Need-based loans for all loan eligible students are capped at a total of $16,000 for the full four years at Reed.
Even though we have not set the 2009–2010 budget, I can assure you that all students admitted to Reed who continue to demonstrate need will have that need met fully throughout all four years of attendance at the college. And those who do not qualify for financial aid will have the opportunity to get assistance from Reed’s financial aid office regarding alternative financing options.
I hope that you will not let the current economic downturn dissuade you from applying to Reed College. History shows us that regardless of the vicissitudes of the business cycle, the investment in one’s future that high quality liberal arts education represents nearly always results in a more rewarding career and fulfilling life.
Colin S. Diver