Financial Aid Fact Sheet by liuqingyan


									                   Financial Aid Fact Sheet, Academic Year 2010-2011

Guiding Principles of Admissions and Financial Aid at Harvard College:
      Lack of financial resources or need for financial aid are not impediments to admission.
      All financial aid awarded by Harvard is need-based, and grant eligibility is determined in
      the same manner for all admitted students.
      Harvard meets the full need of all students applying for financial aid for all four years,
      based on information that we receive from the family for each year.

Who receives financial aid at Harvard?
      Sixty percent of all undergraduates receive need-based Harvard Scholarship aid, totaling
      $158 million in 2010-11.
      One fifth of families qualify for the Harvard Financial Aid Initiative, where parents with
      total incomes less than $60,000 are expected to pay nothing.
      Parents with total incomes between $60,000 and $180,000, and typical assets, are now
      asked to pay an average of up to 10% of their income.
      Foreign students have the same access to financial aid funding as U.S. citizens,
      including the Initiative outlined above.
      Two-thirds of students work during the academic year.

What are the income levels of families receiving Harvard Scholarship assistance?















                                                                                                                      Aid Applicants
                                                                                                                      Schol. Recipients

**There are several hundred families making more than $200,000 who are receiving scholarship aid.

Sample Financial Aid Packages (class of 2014):
                                   Family A                                                 Family B                     Family C
      Cost of Attendance           $54,000                                                  $54,000                      $54,000
      Parent Contribution           -     0                                                 - 10,000                     - 20,000
      Student Contribution          - 1,500                                                 - 1,500                      - 1,500
      Need                           52,500                                                   42,500                       32,500
      Self-Help (job and/or loan)   - 2,500                                                 - 2,500                      - 2,500
      Total Scholarship              50,000                                                   40,000                       30,000

Typical Financial Aid Package for a Scholarship Holder in Class of 2014:

                                           Student Job     Parent Contribution
                                          or Loan $1,500        $11,400

                  Harvard Scholarship

How is the $2,500 term-time work expectation met by the student?
      Students may meet the entire expectation by working 10-12 hours per week.
      Students may choose to borrow up to the entire expectation through a student loan that is
      credited directly to their term-bill account.

How are outside awards treated for students already receiving need-based aid?
      Outside awards are used first to reduce or replace the term-time work portion of the
      award. Currently there are 700 students who are not expected to work as a result.
      Outside awards may also be used to replace the student summer earnings contribution but
      not the parent contribution.
      To the extent that outside awards may exceed the term-time work and summer earnings
      portion of the award, the Harvard Scholarship is then reduced.

Other Features:
      Last year, over 1,000 undergraduates shared $4.0 million in funding, coordinated by the
      Student Employment Office and over 30 other departments, to do research with faculty.
      At the family’s request, the Financial Aid Office re-evaluates the parent contribution
      during the academic year if the family’s financial circumstances have changed.
      Students receiving Harvard Scholarship aid are eligible to borrow an additional loan to
      cover the cost of a computer.
      Students receiving Harvard Scholarship aid who are studying abroad for academic credit
      may apply their financial aid toward their study abroad costs.

How to Apply for Financial Aid:
      Please visit our website for up-to-date application information.
      In general, all applicants must submit the College Board’s PROFILE form, relevant
      federal tax information, and (for US applicants only) the FAFSA (Free Application for
      Federal Student Aid).
      International (non-Canadian) applicants may choose to complete the Financial Statement
      for Students from Foreign Countries available on our website instead of the PROFILE.


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