Top
Schools Offer Financial
Aid to low-Income Families.
Financial aid is no longer limited to
low-income families as Yale University just one
of several universities announced that it's
increasing financial aid for families with income
of up to
$200,000
a year.
The announcement followed similar moves by Harvard,
Duke and other top schools to reduce the burden
on even upper-middle-class families.
HARVARD'S
TUITION ANNOUNCEMENT Harvard expands reinforces it's financial aid
for low- and middle-income families by expanding
it commitment to low-income families.
Harvard is reinforcing
its commitment to opportunity and excellence across
the economic spectrum, Harvard
announced
a significant expansion of its 2004 financial
aid initiative for low and middle-income families.
Parents with incomes of less than $60,000 will
no longer be expected to contribute to the cost
of their children attending Harvard. In addition,
Harvard will reduce the contributions of families
with incomes between $60,000 and $80,000. Visit
http://www.admissions.college.harvard.edu/financial_aid/hfai/index.html for the full text of this announcement. or call
the school's financial aid office at (617) 495- 1581. or
call the school's financial aid office at (617) 495-1581
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Yale
University Increases Financial Aid
Financial aid isn't limited to low-income families.
Yale University announced last week that it's increasing
financial aid for families with income of up to
$180,000 a year.
Yale University Increases Financial Aid Thu Mar
3, 5:21 PM ET U.S. National - AP By MATT APUZZO, Associated Press Writer NEW HAVEN,
Conn. - Yale University increased its financial
aid for lower-income families Thursday, the latest
move by the Ivy League to attract students who
had seen the schools as out of their price range.
Beginning next year, families making less than $45,000 will no longer have
to pay tuition for their children, and those earning between $45,000 and $60,000
will see their required contributions drop an average of 50 percent, Yale said. "The
general message is that Ivy League schools are affordable," Yale President
Richard Levin said. "This is a dream that can be achieved." Levin
said many qualified students don't bother applying to Yale because they figure
their parents can't foot the tuition of about $41,000 a year, including room,
board and other fees. But about 40 percent of undergraduates receive financial
aid, with an average award this year of $22,000.
The average family earning
less than $60,000 will save about $2,700 under the new plan, the university
said. It estimated the changes will cost about $3 million, and will be paid
for by using interest from the school's $12.7 billion endowment and with
money saved on operating expenses. Yale's announcement
follows similar moves at other
Ivy League schools, which have pushed in recent years not just to make tuition
affordable to more students, but also to remake their images. Last year Harvard
said families making less than $40,000 do not have to pay tuition. "Top-flight
schools are all looking at what kind of barriers there are to low-income students," said
Robin Moscato, senior assistant admissions director at Princeton, which replaced
student loans with grants and made other financial aid changes in recent years.
Levin said the college plans to promote its new financial aid plan at high
schools around the country. Last year more than 550 families of Yale students
earned less than $60,000 a year, and more than 300 of those families earned
less than $40,000, the university said. About 5,200 students were enrolled
at Yale this fall.
Although Yale is freeing lower-income parents
from paying their children's tuition, the university
requires the students themselves to
pay at least $4,200 a year. They can earn the money by working $10-an-hour
campus jobs or by taking loans. On Yale's campus, where some students staged
a sit-in at the admissions office last week in a call for more financial
aid, Thursday's announcement was well received. "I think it's an issue that
all students follow," said senior Chance Carlisle, vice president of the
College Council. "No one likes the perception that because you go to an
Ivy League institution, you have to be from a financially well-off family." |
Dartmouth’s
Financial Aid Policy Help Low-Income Families
Beginning with the 2008-09 academic year, all
students from families with incomes of $75,000
or less will receive free tuition. In addition,
many will also receive scholarships for associated
costs of attendance, i.e. room, board, books and
miscellaneous expenses.
The universal shift from student
loans
to
scholarships headlined a series of sweeping
changes to Dartmouth’s financial aid policy
announced by College President James Wright Tuesday.
Dartmouth
will also move to a need-blind admissions process
for international students and eliminate leave
term earnings expectations. http://www.dartmouth.edu/~news/releases/2008/01/22.html
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Duke, Making
Education More Affordable
As part of
its ongoing commitment to make high-quality undergraduate
education more affordable, Duke University will eliminate
parental contributions for families who make less
than $60,000 a year and make it possible for students
from families with incomes below $40,000 to graduate
debt-free.
To help relieve financial pressures on the middle
class, Duke also will reduce loans for students
from families with incomes up to $100,000 and will
cap loans for eligible families with incomes above
$100,000. Officials estimate the new financial
aid program will benefit nearly 2,500 undergraduates. See
story at http://dukefinancialaid.duke.edu/newsupport/newsrelease.html
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Princeton
Is'nt New to Financial Aid For Low-Income Families
This year the
average grant for a freshman on financial aid is
more than $31,000. These efforts have dramatically
increased the economic diversity of Princeton's student
body. Of this year's freshman class, 54 percent,
or 671 students, are on financial aid. That percentage
is a striking change from the class of 2001 -- the
last class admitted before the enhancements to the
aid program -- when 38 percent of the freshmen were
on aid.
Princeton's undergraduate charges next year will
include: $34,290 for tuition, a 3.9 percent increase
from $33,000 in 2007-08; $6,205 for room, up 3.8
percent from $5,980; and $5,200 for board, an increase
of 4 percent from $5,000. Princeton's total fee
package consistently has positioned it lowest among
peer institutions. http://www.princeton.edu/main/news/archive/S20/13/67G97/index.xml?section=topstories
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