Harvard Boosts Financial Aid for Students

Harvard is putting all the money it has (see: "Harvard's Rich, Bitches!") to some truly good use by expanding financial aid packages to students. Here's the details from the AP:

The university said it would replace all loans with grants, and spend up to $22 million more annually on aid, mostly targeting middle- and upper-middle class students. Families earning under $60,000 already pay nothing to attend the world’s richest university, with an endowment of nearly $35 billion.

In short, if you or your kid is smart enough to get into Harvard in the first place, you're going to have a much easier time paying the bill. If you are considering graduate school, good news may be on the horizon. The Crimson adds that the university is considering boosting grad student aid. The aid increase is good news for anyone who thinks they can hold their own in the Ivy League, and it can't be bad PR for new(ish) dean President Drew Faust.

Thanks to Sex and the Ivy for sending the link Bostonist's way. Drop us a line on the contribute page or via e-mail if you hear news you want to share.