Monday, December 10, 2007

Harvard drastically changes aid policy

Harvard just announced a more than $20 million increase in financial aid.

Specifically:
  • Families that make between $120,000 and $180,000 per year will be asked to pay 10 percent of their yearly income in tuition
  • Families that make between $60,000 and $120,000 per year will pay between zero and ten percent of their yearly incomes in tuition
  • Home equity will also be eliminated from financial aid calculations
  • Financial aid will cease to include student loans, moving to only grants
This is pretty incredible. Let's see how Harvard's peers follow suit.

(For more info, see here.)

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