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Article: A Financial Earthquake.(Harvard University's financial aid)
- Article from:
- Newsweek
- Article date:
- August 25, 2008
- Author:
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Byline: Arian Campo-Flores
Harvard dramatically overhauled its aid rules. Other colleges had to follow to compete for top students. How to make sense of it all.
Jennie D'Amico first heard the news in an ecstatic e-mail from her father in Brewer, Maine. It was December 2007--the middle of her sophomore year--and Harvard had just announced a range of new financial-aid policies aimed at easing the strain on middle- and upper-middle- income families like hers. The bottom line for D'Amico's parents: their expected contribution would plunge from a little more than $30,000 per year to about $13,000. It was, she says, "sort of, 'Wow, Harvard now costs less for ...