By Yoji Cole

Date Posted: November 26, 2007

Harvard University is now free for students whose parents make $60,000 per year or less.

Known for its elite status among the nation's Ivy League school, Harvard University has opened its doors to low-income students who are accepted.

"Parents with incomes of less than $60,000 will no longer be expected to contribute to the cost of their children attending Harvard. In addition, Harvard will reduce the contributions of families with incomes between $60,000 and $80,000," reports Harvard's financial-aid web site.

Harvard's Financial Aid Initiative (HFAI) for low-income families started in 2004 when the university announced that families earning $40,000 annually or less would not pay tuition. In March 2006, Harvard announced it increased the low-income threshold to $60,000 annually.

"We want to send the strongest possible message that Harvard is open to talented students from all economic backgrounds," said former Harvard President Lawrence H. Summers in 2004 when announcing reduced admission for low-income families. "Too often, outstanding students from families of modest means do not believe that college is an option for them, much less an Ivy League university."

As a result of HFAI, the class of 2011, which starts school in September, will be the most economically diverse in Harvard's history. An estimated 26 percent of students entering Harvard in September are eligible for HFAI. Since the inception of the program, there has been a 34 percent increase in aid for students from families with incomes under $60,000. Of the students admitted, 50.5 percent were women, 10.7 percent were black, 19.6 percent were Asian American, 10.1 percent were Latino, and 1.5 percent were Native American, according Harvard records.

Of students whose family earnings are more than $50,000 annually, 22 percent or 1.1 million students are enrolled in a four-year college, while 78 percent or 4 million students from families that earn more than $50,000 annually are enrolled in a four-year college, according to the U.S. Census Bureau. The Census Bureau did not provide information for families making specifically $60,000.

Ivy League admittance of low-income students is worse.

"At the 146 most competitive and selective institutions, just 3 percent of students come from families whose incomes are in the lowest 25 percent, compared with 74 percent from families in the top quarter," reported the Harvard Gazette. "At Harvard today, the picture is slightly better, with 6.8 percent of students from the lowest income category versus 74 percent from the highest category."

http://www.diversityinc.com/public/2768.cfm

(http://www.autoadmit.com/thread.php?thread_id=722038&forum_id=1#8938470)

? What? do they mean less than for the first group?

(http://www.autoadmit.com/thread.php?thread_id=722038&forum_id=1#8938545)

Article provided by The Princeton Review

With the average cost of tuition at public and private colleges skyrocketing, today’s students are less concerned about getting into their top-choice college than they are about figuring out how to pay for it. The prospect of having to pay back thousands of dollars in loans is daunting for students thinking about college and can be the most determinate factor in their decision about which school to attend. Fortunately, there are schools out there that go the extra mile to help ease the financial burden of getting a quality education. The Princeton Review’s survey of 120,000 college students for the Best 366 Colleges: 2008 Edition revealed the top twenty schools where students are happy with their financial aid.

1. Princeton University (Princeton, New Jersey)

Princeton stands apart from the majority in matters of financing school. Thanks to “a generous financial-aid system,” students say, “Not everyone is a spoiled-rotten, BMW-driving, snooty rich kid.” The university admits undergraduate students without regard to their family financial circumstances and provides 100 percent of determined need. As a result, “we have students from very diverse backgrounds.” For the past five years, no Princeton student (American-born or international) who received financial aid has been required to take out a loan to pay for his or her education.

2. Stanford University (Stanford, California)

Stanford offers “a mix of incredible academics and a laid-back atmosphere” (not to mention incredible financial aid) that prompts many exceptional applicants to choose it over the likes of Harvard and Yale. Applicants whose parents’ total annual income is less than $45,000 will not be expected to pay for their educational costs at Stanford. Parents with incomes between $45,000 and $60,000 can expect a prorated reduction in their expected parent contribution. This policy reflects Stanford’s commitment to making its world-class education (which costs about $47,000 annually, all inclusive) available to talented and well-prepared students from lower-income families. Currently, about half of all students attending Stanford receive financial aid.

3. Thomas Aquinas College (Santa Paula, California)

Thomas Aquinas’ “integrated liberal-arts program,” which focuses on “books that have shaped the entire history of Western thought” doesn’t come cheap, especially considering that some types of financial aid available at other schools are not available here because the college receives no federal campus-based funds or contracts. To compensate, TAC offers a private-aid program funded through generous contributions from TAC’s benefactors. TAC also provides financial assistance through on-campus employment opportunities. Students awarded a full “service scholarship” put in 13 hours a week in areas such as food service, buildings or grounds maintenance, the library, or clerical work. In exchange, a $3,180 credit is given against room and board.

4. Pomona College (Claremont, California)

In the words of its students, Pomona offers “the best atmosphere available to college students in the United States.” Fortunately, cost is not the barrier at Pomona that it is at other institutions. Pomona prides itself on its need-blind admissions policy and its ability to meet 100 percent of its students’ needs. More than half of Pomona’s incoming students are awarded scholarships, and the administration is committed to honoring the equivalent award in students’ subsequent years of college.

5. Lake Forest College (Lake Forest, Illinois)

“A whole lot of personal attention,” “great financial aid,” and “professors who really care about students” make a Lake Forest College education a great value. Lake Forest maintains a strong commitment to providing generous financial aid to qualified applicants. Best of all, LFC doesn’t overdo the student-loan thing. While many colleges and universities award student loans first, Lake Forest awards up to $10,500 in grants first. Only after this rather significant chunk of free money is exhausted does LFC resort to loans. The average need-based student loan for a first-year student ends up being under $4,000. And once you are admitted, Lake Forest is committed to maintaining its grant aid for all four years.

6. Claremont McKenna College (Claremont, California)

At CMC, “the Admissions Office does a good job of making sure that students are a good match for the college” and accepts students on a need-blind basis. All students attending CMC are awarded up to 100 percent of the financial aid they need, which averages close to $30,000. Although CMC's financial-aid program is primarily need-based, the school also offers academic scholarships. Institutional employment is available and off-campus job opportunities are excellent. Approximately 47 percent of the current freshman class received aid.

7. Wabash College (Crawfordsville, Indiana)

Students say “Wabash has a lot of money,” so it’s no wonder that the school can afford to distribute aid generously. In fact, Wabash ranks among the top 25 colleges and universities in the country in terms of endowment per student, and is one of the few schools that still guarantee that it will meet 100 percent of students’ demonstrated financial need. The school also famously offers $3 million worth of competitive academic scholarships on its Honor Scholarship Weekend, during which students travel to the school to take competitive exams (students outside a 300-mile radius of the school may be reimbursed for travel to and from the competition

8. Beloit College (Beloit, Wisconsin)

At Beloit, “There are lots of rich kids, but the school does a good job recruiting (and financing) students from lower socioeconomic classes.” Last year, Beloit forked out more than $17 million in scholarships and grants. Nearly 80 percent of freshmen and 77 percent of undergraduates receive need-based financial aid, with the average need-based financial aid package totaling $15,676. Beloit also awards more than $13 million annually in merit-based scholarships to underrepresented minorities and other students for stellar academic performance, leadership potential, and music or theater talent.

9. Cornell College (Mount Vernon, Iowa)

Many students cited their financial-aid package as being the factor that brought them to Cornell, a school where “Everyone is more than willing to help you out or point you in the right direction.” Competitive academic and fine-arts scholarships draw students, as does the school’s generous financial-aid policy. When a student receives an outside scholarship, Cornell College does not typically reduce gift aid, though the amount of and the ability to renew the outside scholarship are reviewed in relation to the college's need-based gift award. Seventy-three percent of freshmen receive need-based scholarship or grant aid.

10. College of the Atlantic (Bar Harbor, Maine)

At College of the Atlantic, students “have the opportunity to shape their own educations. Students who are self-motivated and enthusiastic can have an awesome experience here.” About 92 percent of COA students receive at least some form of financial aid. The school offers both need- and merit-based awards to a large number of students.

11 New College of Florida

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12 Williams College

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13 California Institute of Technology

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14 Truman State University

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15 Knox College

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16 Grinnell College

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17 Rice University

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18 University of North Carolina at Asheville

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19 Randolph College

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20 Amherst College

(http://www.autoadmit.com/thread.php?thread_id=722038&forum_id=1#8938553)

That is the crux of the problem. Without fixing that first, all the aid in the world is just a red herring.

(http://www.autoadmit.com/thread.php?thread_id=722038&forum_id=1#8939749)