Word: aids
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...Harvard licensing income beyond the costs of trademark protection and licensing goes to fund undergraduate financial aid, and profits from the "Harvard Yard" line will be no different. Harvard Trademark Program director Rick Calixto told the Boston Globe that Harvard makes over $1 million in royalties by licensing trademarks to entities like bookstores and mall kiosks. Longbrake wrote in an e-mail that about $500,000 a year from Harvard's licensing revenue funds undergraduate financial aid...
...Peter Bebergal, associate officer for use of name and trademark at MIT, said he believes the practice of earmarking licensing royalties for financial aid is commonplace among schools, including his own, which he said uses the proceeds for financial aid...
...prep has become a style for a broad section of Harvard students, Stilz said. "Anybody from the richest final club president to somebody there on financial aid is typically walking around in khakis," he said. "Prep is kind of blurred into the new Harvard...
...From a business perspective, Stilz said that he supports the effort to raise more money for undergraduate financial aid. "If it hurts our image, it hurts our image," he said. "The important thing is that Harvard continues to make the commitment we have to offering need-based financial aid for all students. It would be different if the money were just going to the endowment, but the fact that the money is going to go to financial aid I think justifies it." But Stilz cautioned that the financial contribution would only justify the deal if it were large: "$1 million...
...Nicholas J. Navarro '10, an executive producer of last year's Eleganza fashion show who has been criticized in the past for working on racy fashion scenes, said that he feels conflicted about the new line. "As a student on financial aid, I care about expanding the financial aid system at Harvard," he said. "But at the same time, as a Latino, I came into Harvard my freshman year with preconceptions about Harvard being a culture of wealthy Caucasians, and the product line comes at the cost of reinforcing those stereotypes...