Harvard increases financial aid to low-income students
Harvard College will expand its investment in undergraduate financial aid this year by more than $10 million, providing a record $166 million in need-based scholarships to undergraduates. Beginning in the fall of 2012, financial aid will be further increased for low-income students by raising the income level under which parents pay nothing for the cost of attendance. To make its generous aid program easy to understand for potential applicants, Harvard College also launched today a “net price calculator” on its financial aid website, customizing financial aid information for individual students and their families, in accordance with the Higher Education Opportunity Act of 2008. With the new calculator, applicants and their families can enter their financial data to estimate the net price they will be expected to pay for a year at Harvard. Since 2007, Harvard’s investment in financial aid has climbed by more than 70 percent, from $96.6 million to $166 million....