It is becoming almost a weekly occurrence. Another top tier private university is increasing the size of its awards to students getting need-based financial aid. And this time it's Harvard...




We reported on Duke's financial aid policy move just yesterday. Duke and Harvard are part of a trend: some of the top ranked private colleges in America are increasing financial aid packages to students who come from low income and modest income families.

In the case of Harvard, "modest" means $180,000 a year. If a student's family makes an annual income of between $120,000 and $180,000, the cost of attending Harvard drops from about $45,000 a year to an annual bill of 10% of the family's income. When family incomes drop under $120,000 the percentage of that income Harvard asks for declines. And if the student comes from a home where the annual income is $60,000 or less, Harvard asks for nothing and the student attends for free.

That means that pretty much anyone can afford to go to Harvard - somethign sure to make their admission process even more competitive...