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.)