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Harvard University Scholarship
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 web site.
Harvard President Lawrence H. Summers announced in February 2004 a major
new initiative designed to encourage talented students from families of low
and moderate income to attend Harvard College. While the new initiative has
four major components, including recruitment, admissions, and a summer
academic program designed to prepare talented students from financially
disadvantaged backgrounds for college, the financial aid component
increases aid for students from low and moderate income families. Beginning
with the 2004-05 year, parents in families with incomes of less than
$40,000 will no longer be expected to contribute to the cost of attending
Harvard for their children. In addition, Harvard will reduce the
contributions expected of families with incomes between $40,000 and
$60,000.
The University has earmarked $2 million in new financial aid funds to cover
this expanded aid next year, bringing its total annual scholarship budget
for undergraduates to just under $80 million. The new initiative, which
will take effect next fall for all students ? entering and returning ? is
expected to benefit more than 1000 families on an annual basis. The new
financial aid initiative is the latest step in a progressive expansion of
financial aid at Harvard in recent years. Harvard College's nearly $80
million in scholarships for undergraduates in the coming year represents a
49% increase over the past six years when inflation rose by only 13.5%.
This increase in scholarship aid has reduced the average student loan debt
upon graduation to $8,800 for the Class of 2003, a figure well below the
national average of close to $20,000
Title VII Indian Education Office
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