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Last December, Harvard College implemented a financial aid initiative aimed at upper-middle class families. Under the new program, families making between $60,000 and $120,000 pay from 0 to 10 percent of their total incomes, while those making between $120,000 and $180,000 pay only 10 percent. The new program also eliminated loans and removed home equity from consideration...
University President Drew G. Faust announced in November that the University’s deep coffers had been hit hard, with the endowment losing 22 percent of its original value in the four months through October. The losses through the end of the fiscal year might amount to 30 percent, Faust said...
With the introduction of the upper middle income program last year, Donahue said that Harvard saw a 20 percent increase in people applying for financial aid and an 8 percent increase in those receiving...
...percentage of lower-income students in the freshman class has held steady for the past few years at “just below about a quarter of the class” after rising when increases in financial aid were announced a few years ago. Currently, about 60 percent of the freshman class receives need-based financial assistance...
...businesses have been doing well as a whole, but also said that it is important for HSBA to support the locally owned shops, which—despite their prevalence—do not occupy as much square footage in the Square as the national chains. At the moment, 98 percent of the business locations in the Square are occupied. Seventy-eight percent of the nearly 390 business locations in the square are locally owned, 6 percent are regional stores such as JP Licks, and 16 percent are national chains. “It is so important for us to continue...