"Harvard's announced [financial aid] reforms quickly resonated far beyond its walls," Newsweek reports. "Within months, a score of other well-endowed schools publicized their own aid overhauls aimed at middle- and upper-middle income families overwhelmed by the spiraling cost of higher education. How does Harvard explain its new policies? Based on research and anecdotal evidence, 'it was really clear that we were just not getting the very good middle-income students to even think about Harvard' because it was perceived as too expensive, says William Fortissimos, dean of admissions and financial aid. The reaction from leaders at less-wealthy institutions, however, hasn't been nearly as upbeat."
You can read the complete August 9, 2008 Newsweek article on-line.
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