Thursday, December 13, 2007

Harvard for the Middle Class

Harvard has announced that for the next year a financial aid program will be installed, cutting tuition from 1/3 to 1/2 of the usual cost. They are looking to help the middle class and even the upper middle class families send their children to ivy league schools without going bankrupt. The program will make families only have to pay 10% of their annual income for tuition each year. The drop will be as much as 50,000 dollars for some families. Harvard has witnessed the dramatic increase within the last few years in university's tuition and have decided they are going to take the initiative to fix the problem. Their financial aid program offers more help than any other private university in the country. Attending Harvard is now comparable to the price, but certainly not the status, as attending a state university. They now will be giving out over $120 million dollars a year just in financial aid. Other schools are following Harvard's lead, mainly on the East Coast, to increase financial aid and therefore making attending college ultimately easier. Over the years they have been debating whether or not a drastic change in tuition was needed, but up until now they had been creating only differences for very poor families. But now everyone is included and Harvard is excited, as well as everyone else, to satisfy the nation by providing more financial aid and proving they really do care about education even if our current government does not.

2 comments:

Valerie said...

That's really good news....the tuition of colleges, both public and private, are increasing. I think it's important that students receive a quality education without having to pay off student loans for the rest of their life.

Andrew said...

Obviously, college costs are outrageously high. However, most colleges/universities can't afford to provide for their students like Harvard can (because it's ridiculously rich). Part of this is because our government doesn't provide much money for continued education. In Canada, for example, attending universities is less expensive than it is here. At the University of British Columbia, for example, annual tuition is $2000. Anyways, I don't know what to do about this, but I wish every school could afford to do what Harvard can.