Yesterday Harvard University announced that their financial aide budget will be increased to allow students of parents who make $60,000/year or less to attend the prestigious university for free. Harvard's president, Lawrence H. Summers, said that this new policy will help diversify their student population, something that Harvard is committed to.
I think this is an excellent program instituted by Harvard. Today it costs approx. $42,000/year to attend Harvard University - a cost that is too high for most middle to upper-middle class families to afford without incurring major debt. Middle class students are hard pressed to find decent financial aide to attend any university other than in-state colleges, making more prestigeous private universities inaccessible for most. The article I read mentioned that other more expensive universities are initiating similar programs to make their education more accessible to middle class/income students, but I couldn't find a listing of those schools.
You can read more specifics about Harvard's new policy by reading today's MSNBC.com article HERE.
Tags: Harvard University , Harvard , Middle Class , Financial Aid , Education , College , news
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