See you on the campus quad (2014)

plus a 'promising innovation'

May 23, 2022 • Issue #10 Money is turning 50! To celebrate, we've combed through decades of our print magazines to uncover hidden gems, fascinating stories and vintage personal finance tips that have (surprisingly) withstood the test of time. Throughout 2022, we'll be sharing our favorite finds in this special newsletter. Ready to dive into the archive? In the grand scheme of Money's 50-year history, our Best Colleges list is just a kid. Yet plenty has changed on college campuses during its eight-year run. In 2014, when we launched the current iteration of our Best Colleges ranking, Blackberries were still popular, the vast majority of four-year colleges required standardized tests to get in, and undergraduates had never even heard of TikTok, NFTs or COVID-19. Back then, Money's list was unique in the world of college rankings. Our methodology, the brainchild of former senior writer Kim Clark, didn't consider reputational factors like acceptance rates, and it was one of the first to focus heavily on affordability factors, including prices students actually paid and family borrowing, alongside estimates of what alumni earn in the labor market. As Clark wrote at the time, "the majority of families now believe that at today's high prices, the most important reason for a college education isn't to be able to think deep thoughts, but to land a good job that leads to financial security." Read the 2014 introduction of the Best Colleges franchise below, then check out our latest list, published last week, here. — Kaitlin Mulhere, higher education editor IN OTHER NEWS… 💰 Merit mania: A November 1985 story called "merit scholarships" — aka grants from colleges that are not based on financial need — a "promising innovation" that could help middle class families tackle tuition bills. More than 35 years later, that innovation has grown to total billions of dollars a year in college aid. 💰 How low can you go?: The University of Pennsylvania rejected 9,000 applicants the year before we published a September 1986 feature that described the chances of getting into a competitive college as "daunting" and "devastating." But applicants today can only dream of those odds: Last year, UPenn rejected more than 50,000 applicants — a whopping 16 times the number admitted. 💰 Same story, different millennium: In a December 1999 article, we reported that college costs were the third largest financial concern for American households earning more than $50,000. Coming in the first and second spots? Saving for retirement and paying medical expenses. Sounds… familiar. SHOW ME THE MONEY   Reason No. 584 why dogs live a good life: No college bills. TEST YOUR MONEY MEMORY In a 2014 story called "Busting the 5 Myths of College Costs," Money reported that competition for students was "sparking an arms award race" that resulted in steep discounts on tuition prices at private colleges. What was the average discount rate at the time? 25% 84% 54% 45% Thanks for reading! If you enjoyed this edition of Money Classic, please forward it to a friend or tell them to sign up at money.com/subscribe. We've got a full year of 50th anniversary surprises planned, so stay tuned — and in the meantime, check out Money.com for up-to-date news and advice. Recent stories include No SAT, No Problem? How Test-Optional Policies Are Changing College Admissions, 4 Tips for Finding the Best College for You, and 51% of Americans Believe Biden Is Going to Forgive $10,000 in Student Loan Debt.

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