Harvard

Al Corelli_2

Who is actually paying for the tuition?

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Paul Fredricks_3

Check out this blurb I just got from our local high school:

Harvard University
announced that from now on undergraduate students from low-income families will pay no tuition. In making the announcement, Harvard's president Lawrence H. Summers said, "When only 10 percent of the students in elite higher education come from families in lower half of the income distribution, we are not doing enough. We are not doing enough in bringing elite higher education to the lower half of the income distribution."

If you know of a family earning less than $40,000 a year with an honor student graduating from high school soon, Harvard University wants to pay the tuition. The prestigious university recently announced that from now on undergraduate students from low-income families can go to Harvard for free...no tuition and no student loans!

To find out more about Harvard offering free tuition for families making less than $40,000 a year visit Harvard's financial aid website at: http://www.fao.fas.harvard.edu/ or call the school's financial aid office at (617) 495-1581.


That's pretty cool, huh?

jp_2

Hmmmm?

bet the families making $41,000 ain't going to be tooo happy?

sounds like a sliding scale would be the only fair thing?

Norm Harvey

Alumni

Brad White

John Harvard is Well Endowed

The interest on their current endowment of about $35 Billion could generate income of $1.75 Billion (if at a brain-dead 5% rate of return). That is more than I make in a week.

That is enough to give almost 30,000 people a $60,000 per year scholarship, room, board, polo ponies and an overseas semester in Prague.

Harvard Universities total enrollment is under 20,000 and tuition, room and board is less than $45,000 so it could go a lot further.

Like most institutions, much of the endowment is locked up in specific-purpose funds, for example to support a capital project (building's) operational expenses, so this does not reflect the actual potential usage. But it does illustrate the possibilities. I say, good for them.

jackchips_2

Lawrence Summers

was forced out as President quite a while ago, Paul.

It was quite controversial and I would be cautious of any statements about Harvard being attributed to him.

It could be an old comment and would be great if it's true.

Jack

Brad White

Lawrence Summers

Good catch, Jack! I read that and it did not register, so now it sounds like a hoax.

Given the way he was shown the door though, I think it is a wonderful thing for him to publicly say before he left.

"Hey everybody! Free tuition!"

Let his successor take it back.... hee hee...

Paul Fredricks_3

Just to figure it out, I'll call the phone number on Monday to see if this still holds true.

midway_2

Lou Dobbs will love to find out who's getting the freebies, especially if its the illegal immigrents