Record for financial aid
Harvard College will increase financial aid for undergraduates to a record $172 million for academic year 2012-2013. Since 2007, Harvard’s investment in financial aid has climbed by more than 78 percent, significantly outpacing increases in tuition. More than 60 percent of students at the College are expected to receive need-based grant aid. Families with students on financial aid will pay on average $12,000 toward the cost of tuition, room, board, and fees, with an average grant of more than $41,000. “Need-blind admissions, supported by generous financial aid, is the bedrock of Harvard’s effort to attract the most talented undergraduates in America and across the globe, regardless of their ability to pay,” said Dean Michael D. Smith of the Faculty of Arts and Sciences. “A student’s economic circumstances should never be a barrier to attending Harvard College.” Since 2004, Harvard has dramatically reduced the amount that families are expected to pay to send a child...