The University of Chicago’s Independent Student Newspaper since 1892

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The University of Chicago’s Independent Student Newspaper since 1892

Chicago Maroon

The University of Chicago’s Independent Student Newspaper since 1892

Chicago Maroon

Is anyone hurt by Harvard’s new financial aid policy?

Matt, in

Matt, in his critique of my complaints of Harvard’s financial aid overhaul, argues that this isn’t a zero-sum game, that Harvard is still giving the bottom 60% of income in the U.S. a free ride.To the extent that this new policy probably won’t affect financial aid to poorer Americans is true, but this is a tremendous commitment. If they are losing $10,000 a year in revenue from a large percentage of their students that is going to add up quickly. (Let’s say about 2,000 students fall–just a hunch on what the number is–into the household segment that is going to benefit here: Then Harvard is losing $80 million per class, that’s a lot.)That is clearly going to cut into Harvard’s other commitments, many of which are more worthwhile then making college more affordable for families that make $160,000 a year–especially when so much needs to be done to make a degree from Harvard attainable for so many Americans.Of course, this doesn’t mean that the new financial aid policy hurts poor Americans in a tangible way. It does, however, show where Harvard’s priorities are: attracting the smartest students. That’s a fine priority, but we shouldn’t all laud them for being progressive or altruistic when it’s so obviously selfish.

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