With the unprecedented economic downturn of the past year and a half, the thought of financing four years of college weighs heavily on families. The Harvard College enhanced it's current financial aid program in 2007 with the goal of ensuring that middle and upper-middle income families could better afford a Harvard education.
This was to follow the initial expansion aid for low and moderate- income families in 2004.
Over the past decade Harvard's scholarship aid have increased by 155%, and this year are awarding a record-breaking $145 million in need-based scholarship assistance to almost 60% of students.
The new financial aid policy has dramatically reduced the amount families with incomes below $180,000 are expected to pay, and parents of families with incomes below $60,000 are not expected to contribute at all to college costs. Home equity is no longer considered as a resource in determination of a family contribution, and students are not expected to take out loans, which have been replaced by need-based Harvard scholarship. This new program has reduced the cost to middle income families by one-third to one-half, making the price of a Harvard education for students on financial aid comparable to the cost of in-state tuition and fees at the US' leading public universities.
The Harvard financial aid program is completely need-based and considers many factors such as income, assets, size of family and unusual expenses.
The University have increased their scholarship program over the part decade. The Harvard is pleased to have eliminated student loans entirely from the financial aid awards, thus reducing the "self-help" component of all financial aid awards to $2,500 for freshman. Students can choose from a wide variety of jobs, including research with faculty members and a range of community service opportunities, to meet their term-time work expectations.
Do I qualify for these programs as an international student?
Yes. Like Harvard's need-blind admissions policy, all of Harvard's financial aid is citizenship-blind. Thus, any student who is admitted is eligible to receive the most generous aid package possible.
In recent years, Harvard has made a systematic effort to increase affordability and widen access for qualified students from across the economic spectrum.
Harvard financial aid policy is to scrutinize all sources of income and expenses for all families applying for financial aid, and those families with unusually high medical or sibling educational expenses may find that they are expected to contribute less than this percentage of their income, while those with extraordinary wealth will find that they are expected to contribute a higher percentage. Factors such as family size, health care costs, sibling educational expenses, and other non-discretionary expenses that place a drain on family finances are considered carefully in assessment of a family's need for assistance, and there is no income cut-off for need-based scholarship eligibility.
Subscribe by Email for AfterSchoolAfrica.com Scholarship and Study notifications.
Did You Find What You Where Looking For?
Use the Search Box Below To Find it!
No comments:
Post a Comment
Got Questions, Enquires, or Comments on this topic? Please use the form below.