Sunday, January 06, 2008

Harvard - free tuition?

from Reuters:
Harvard University announced a dramatic financial aid overhaul on Monday that will slash the cost of tuition even for students from middle-class and upper middle-class families.

The Ivy League school, the world's richest with a $35 billion endowment, said it will pay $120 million a year so families earning up to $180,000 a year will pay only as much as 10 percent of their income on annual tuition and fees. By spending an extra $22 million on financial aid every year beginning with the 2008-2009 academic year, a family making $180,000 a year will be asked to pay roughly $18,000, compared with about $30,000 today, Harvard said.

"We want all students who might dream of a Harvard education to know that it is a realistic and affordable option," Harvard president Drew Faust told reporters.

Dare we dream that other unversities will re-structure as well?

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