Hard to believe but apparently true; if your child gets into Harvard and your family makes under $60k, that student can go to Harvard..for free. (They do not consider retirement assets or home equity in their financial aid calculations.) They eliminated student loans, preferring to offer jobs to help students with non-academic expenses.
From Harlem World:
For another year, Harvard University announced on Friday, September
20th, 2013 that undergraduate students from low-income families will pay
no tuition. In making the
announcement, Harvard’s president Drew Faust (she replaced Larry
Summers). Past Harvard president Larry Summers said, “When only ten
percent of the students in elite higher education come from families in
the lower half of the income distribution, we are not doing enough. We
are not doing enough in bringing elite higher education to the lower
half of the income distribution.”
To find out more about Harvard offering free tuition for families
making less than $60,000 a year, visit Harvard’s financial aid website
at :http://www.fao.fas.harvard.edu/or call the school’s financial aid office at (617) 495-1581.