Saturday, March 20, 2010

Harvard will raise tuition

Harvard University will increase tuition next school year by 3.8 percent, the school announced yesterday, bringing the annual cost of a Harvard education, including room and board, to $50,724. At the same time, the school said it would increase undergraduate financial aid for the 2010-11 school year by 9 percent, to $158 million. More than 60 percent of students receive aid, with need-based grants averaging about $40,000, Harvard said.

“Harvard remains committed to a fully need-blind admissions policy that will enable us to continue attracting the most talented students, regardless of their economic circumstances,’’ said Michael D. Smith, dean of the Faculty of Arts and Sciences.

Under an initiative Harvard introduced in 2007, families earning between $60,000 and $120,000 a year are asked to contribute between zero and 10 percent of their annual income, on a sliding scale. Those earning between $120,000-$180,000 pay 10 percent.

On Wednesday, Boston University said it would raise tuition 3.7 percent. The cost of education and basic room and board at BU will be $51,574.

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