Families earning well into six figures will see the cost of aHarvard education reduced by thousands of dollars per year under amajor financial aid initiative that is bound to draw attention farbeyond the school's ivy-covered walls.
The announcement Monday, the latest of several recently by elitecolleges concerning aid, reflects a shift toward making top schoolsmore affordable to even upper-middle-class families. The Universityof Chicago moved this year to replace many loans with grants.
Harvard admits its full list price of $45,620, while comparableto other elite private universities, is a burden to all but the mostwealthy.
"This could inspire other expensive colleges to make tuition moreaffordable," said Sen. Charles Grassley.
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