Word: hfai
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...Mexican-American student from Century High, an inner-city school in the predominantly low-income city of Santa Ana, Calif. The first person from Century to come to Harvard, she is precisely the kind of student that the University has been targeting under the Harvard Financial Aid Initiative (HFAI)—a flagship program that could drastically alter the socioeconomic makeup of the undergraduate population...
...Admissions William R. Fitzsimmons ’67, currently less than 15 percent of enrolled Harvard students come from the poorest 60 percent of households. However, it is clear that Harvard is working to change this disproportionate representation. Last year, President Lawrence H. Summers and Fitzsimmons created the HFAI, stipulating that families earning $40,000 a year or less do not have to contribute any money, and those earning between $40,000 and $60,000 have to pay substantially less as compared to previous years. Furthermore, Harvard will offer a record amount of financial aid next year, $84.6 million...
Harvard, and especially Summers and Fitzsimmons, deserve strong praise for the growing diversity of Harvard, the apparent success of the HFAI, and the increase in financial aid. While lower-income applicants do not make up a large part of the class of 2009, it is clear that Harvard has made substantial progress in reducing the barriers to a Harvard education...
...also clear that Harvard’s move to make college more affordable has had an impact on its peer institutions. Last month, Yale followed Harvard’s lead, mimicking the HFAI and unveiling its own financial aid program designed to help low-income students attend Yale. Hopefully, other schools will follow with similar programs...
Nevertheless, Harvard cannot be content to rest upon its laurels. It must continue to work to recruit low-income students and must also continue to publicize the HFAI and its financial aid program in general so that as many high school students as possible know of the aid the College offers. Harvard has made great strides forward, but it still has a long way to go. Only then will we have realized President Summers statement in the Harvard University Gazette that “Harvard is—really and truly—an option for exceptionally talented students whatever...