Harvard University's president shocked the academic world whenhe announced that low-income students could attend the prestigiousschool for free beginning next fall.
"Harvard's decision could be a turning point in the trend amongcolleges, which have long favored merit-based aid," said Richard G.Rhoda, executive director for the Tennessee Higher EducationCommission. "Harvard has shifted its focus to need-based aid. Thisdecision will affect private universities more than public."
Harvard announced last month that it is adding $2 million to its$80 million annual scholarship program with the goal of increasingthe percentage of low-income students at the prestigious Ivy Leagueschool, where they now comprise 6.8 percent of the student body,according to the Harvard Gazette. Low-income students areapproximately 20 percent of the student body at most publicuniversities, the newspaper reported.
"You look at a profile of students, and if you see you aremissing a certain profile, you try to target them in yourrecruiting," said Ralph Faudree, University of Memphis provost."Private universities have to deal with diversity issues more thanpublic universities like The University of Memphis. Our diversityis built in."
Harvard's diversity plan provides free tuition to students whoseparents earn less than $40,000 a year and increases aid to those inthe $40,000-to-$60,000 bracket.
Harvard will also waive application fees, fund student visits tothe campus and provide money for books and other miscellaneousexpenses.
"Our doors have long been open to talented students regardlessof financial need, but many students do not know or believe this,"Harvard president Lawrence Summers said in a speech. "We aredetermined to change both the perception and the reality."
Harvard's lucrative offer appealed to U of M senior advertisingmajor Emily Melonas.
"I would definitely go to Harvard if it were free, mainlybecause it's prestigious," she said.
However, students eager to take advantage of Harvard'slow-income recruitment shouldn't pack their bags just yet. Ofnearly 21,000 students who applied for admission in the class of2007, less than 2,100 were accepted, or about one out of every 10applicants. Admission to Harvard is based on academic achievement,SAT scores, extracurricular activities and student personality.
Harvard's new financial aid plan comes at a time when collegeenrollment is expected to increase nationwide by approximately 20million students by the year 2013, according to the National Centerfor Education Statistics.
