Texas Ed Spectator

Very interesting article on Harvard’s new accessibility to the middle class. Families making less than $120,000 won’t pay any tuition. The author, Steven Roy Goodman, argues that by providing additional aid, Harvard and others with generous endowments, are hoping to head off legislation by Congress that would mandate schools to spend 5% of it’s endowment as required by other private foundations.

Goodman reports that Harvard claims the tuition initiative could cost it $22 million a year. However, if it heads off the Congressional mandate, the school saves $245 million dollars a year for the endowment.

The real story on Harvard’s generosity – The Boston Globe

Quite a trick. Spend at best a tiny fraction of the endowment, while reducing growing political pressure in Washington and around the country that could potentially cost the university more than 10 times the additional amount of financial aid.

When there are plenty of colleges with endowments of less than $50 million, like Goodman, I can’t help but wonder what Harvard plans on doing with it’s endowment. It’s obvious that it doesn’t need it to educate the vast number of struggling and unprepared students it admits every year (that’s sarcasm, it’s 25th% for the SAT was 1390.)

Maybe it could spend some it’s money on initiatives with high schools that don’t send as many students to the selective schools. It could pay for some college test prep classes that many high school students can’t afford. It could give some high school students  stipends that allow them to pursue the all important extracurricular activities instead of working a part time job. Or maybe provide a bridge year of studies for free for students who’s high schools have ill prepared them for college.

Better yet, if money is so important for quality education, Harvard should put the quality of it’s endowment and education to the test. Admit not so spectacular students and see if the Harvard experience can make them even better students. It’s easy to educate someone with a 1400 SAT, how about someone with less than a 1000?

I can’t imagine Harvard going for that one. The entire admissions’ process from the school’s point of view is to admit students that will create the best possible “community” and “education environment” on campus. If that’s the case, then why not provide free undergraduate tuition? I’m sure this would increase the applicant pool and allow Harvard to become even more selective. And as Goodman points, out it just might save its endowment from Congress so that is can be used for…what?

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