Harvard hikes tuition for undergraduates, boosts financial aid
Harvard University announced today it will raise its annual price tag by 3.5 percent to almost $55,000, while boosting financial aid for undergraduates to record levels.
The total amount of financial aid will increase to a record $172 million for the academic year 2012-2013. Since 2007, Harvard has increased financial aid by 78 percent, the university said.
More than 60 percent of students receive financial assistance, with an average grant of $41,000. For students who qualify for aid, the discounts have more than offset tuition increases, the university said.
“Need-blind admissions, supported by generous financial aid, is the bedrock of Harvard’s effort to attract the most talented undergraduates in America and across the globe, regardless of their ability to pay,’’ Michael Smith, dean of the Faculty of Arts and Sciences, said in a statement.
Selective colleges have steadily raised tuition but also handed out more financial aid to attract students from less wealthy families.
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