Top colleges get more affordable

There’s some good news for future students, or parents of future students. The most prestigious colleges in the country are making changes to their financial aid programs so the students have to pay less.

Tuition, room and board jump significantly every year. But changes to financial aid policies at many selective colleges and universities are boosting lower- and middle-income students' odds of getting a better deal.
A study notes a rise in binge drinking among college students. CNN's Elizabeth Cohen reports.

In addition, there could be a ripple effect. Colleges want to win good students and don't want the competition luring away potential candidates with sweetened aid packages. "There's a certain arms-race mentality, or a fear that there's that mentality," said Karin Fischer, who covers low-income students' access to college for the Chronicle of Higher Education.

CNNMONEY.com story.