New trend: Private colleges earmark financial aid for locals

Many private colleges are sweetening financial aid packages for students from their own backyards.

It's an effort by the schools to portray themselves as more affordable and better neighbors. They also want to stay competitive.

Among the schools is Northwestern University, which is targeting Chicago-area students in financial need. Northwestern is also attempting to increase its minority scholarships. Its "Good

Neighbor, Great University Program" scholarships will be awarded to 100 incoming local freshmen.

There will be no income cut-off for students whose families show financial need. The majority who qualify will receive enough aid to fully cover the cost of Northwestern's $40,000 annual tuition and fees.

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