College financial aid: It’s a sham that depends on what colleges think families will pay.

Colleges claim to award scholarships based on merit or need. In reality, they’re just charging the most they think families will pay.

Photo illustration by Natalie Matthews-Ramo. Photo by Monkey Business Images/iStock/Getty Images Plus. Copy Link Share Share Comment Copy Link Share Share Comment In early March, a 17-year-old high school senior I’ll call Ethan got a text message from Ursinus College, a small, private liberal arts school located about 45 minutes outside of Philadelphia. It said, “Great news, [Ethan]! Ursinus College has awarded you additional money! Log into your portal to view your updated financial aid award.” A few days later, Ethan got a letter from Ursinus repeating the same offer. “The Office of Student

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