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...state tuition. For decades, it was the one advantage big state schools had that even the Ivy League couldn't match, in terms of recruiting the best and the brightest to their campuses. But these days, that's no longer necessarily the case. Starting this September, some students will find a Harvard degree cheaper than one from many public universities. That is, of course, if they...

Author: /time Magazine | Title: The New Battle over Financial Aid | 9/4/2008 | See Source »

...subsidizing the annual cost of more than $45,600 for all but its wealthiest students. The move was just the latest in what has amounted to a financial-aid bidding war in recent years among the U.S.'s élite universities as they try to ease concerns over staggering tuition bills...

Author: /time Magazine | Title: The New Battle over Financial Aid | 9/4/2008 | See Source »

...Though Harvard's is the most generous to date, Princeton, Dartmouth, Yale and Stanford have all launched similar plans to cap tuition contributions for students from low- and middle-income families. Indeed, students on financial aid at nearly every Ivy stand a good chance of graduating debt-free, thanks to loan-elimination programs introduced over the past five years. And other exclusive schools have followed their lead. Williams and Amherst colleges in Massachusetts, North Carolina's Davidson College and Virginia's William & Mary all replaced loans with grants and work-study aid starting last year. And several more schools...

Author: /time Magazine | Title: The New Battle over Financial Aid | 9/4/2008 | See Source »

...Even more schools have taken steps to reduce debt among their neediest students. Among them: Caltech, which this year began replacing loans with grants for American students with household incomes below $60,000, and College of the Holy Cross, which offers free tuition to students from its surrounding community in Worcester, Mass., if their family makes less than $50,000. And many public and private universities now offer similar packages to state residents who are at or below the federal poverty level of $21,000 a year for a family of four. "Students' tuition, fees, food, books and a place...

Author: /time Magazine | Title: The New Battle over Financial Aid | 9/4/2008 | See Source »

...that families shouldn't expect to see most financial-aid packages rise to the level of Harvard's largesse anytime soon. Over the past few years, Congress has gotten fed up with wealthy schools hoarding their enormous endowments - Harvard's reached $35 billion last year - while still regularly raising tuition prices. The average tuition and fees at private four-year colleges rose 14% in the past five years, according to the nonprofit College Board; the increase was 31% at public schools. Fees themselves at many public universities are skyrocketing, even as tuition holds more or less steady. "It's fair...

Author: /time Magazine | Title: The New Battle over Financial Aid | 9/4/2008 | See Source »

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