Great news coming from the financial aid office at Harvard University – where they are now offering families of undergraduates who make less thatn $60,000 a year free tuition and no student loans.  See below for their website:

In December of 2007, President Drew Faust announced a sweeping overhaul of financial aid policies designed to make Harvard College more affordable for families across the income spectrum. Over the past decade we have increased our scholarship aid by 163%, and this year we are awarding a record-breaking $158 million in need-based scholarship assistance to almost 60% of our students.

Our new financial aid policy has dramatically reduced the amount families with incomes below $180,000 are expected to pay, and parents of families with incomes below $60,000 are not expected to contribute at all to college costs. We no longer consider home equity as a resource in our determination of a family contribution, and students are not expected to take out loans, which have been replaced by need-based Harvard scholarship. This new program has reduced the cost to middle income families by one-third to one-half, making the price of a Harvard education for students on financial aid comparable to the cost of in-state tuition and fees at the nation’s leading public universities. For a more detailed explanation of our program, please click here.

We look forward to working with you,
The Harvard Financial Aid Office

What do you think about these new revelations for the Ivy League school?

Tagged as: College, Financial Aid, Harvard University, Ivy League, Low-Income, School, Tuition