Undeserved Publicity for Harvard

The Wall Street Journal is flashing the headline "Harvard Cuts Undergrad Prices" at the top of its Web site at the moment, along with an article that begins:

Harvard University sweetened its financial aid for middle class and upper middle-class families, responding to criticism that elite colleges have become unaffordable for ordinary Americans.

That's almost right, except the correct word would be unaccessible not unaffordable. It's good that an unimaginably wealthy institution like Harvard is only going to be charging rich people full freight. But that doesn't mean all that much when your student body is made up primarily of rich people. In the University's prepared statement, President Faust says "This is a huge investment for Harvard." Is it? Compared to what? How much does this increase the university's annual need-based aid expenditures? Will it increase the percentage of student eligible for such aid, and if so by how much? How much more aid will students receive, in percentage terms, compared to what they're getting now?

Harvard's statement concludes by noting that "With the new initiative fully in place this coming year, more than 90 percent of American families will be eligible to benefit from Harvard's exceptionally generous financial aid." I'm sure that's true, but it's also essentially meaningless, since only a tiny minority of that 90 percent attend high schools like these, identified just last week by the WSJ as those that offer the best odds of getting graduates into school like Harvard, often in exchange for tuition in excess of $25,000 per year.

Harvard has been getting a ton of great publicity over the last five years by cannily staying one step ahead of the curve in announcing new programs to cut tuition for it's small number of low- and middle-income students. But it until it actually does something to admit more of those students--not just help them once they arrive--it won't deserve headlines like these.

UPDATE: I see walking into work this morning that this is making the front page of all the big newspapers. Sigh. Some have reported, per above, the actual cost of the change, $22 million. That is (A) less than 0.4% (four-tenths of one percent) of what Harvard earned on its endowment last year, and (B) a small price to pay for this kind of publicity.

According to InsideHigherEd, "because Harvard officials said that they hoped the plan would attract new, less wealthy applicants, the share of undergraduates eligible could grow over time." Similarly, the New York Times reports that "Harvard’s dean of admissions and financial aid, William R. Fitzsimmons, said [previous changes targeted to families earning less than $60,000 per year] had increased the number of low-income students by 33 percent in three years."

Both of these statements are premised on the idea that the economic makeup of Harvard's student body is essentially a function of the economic makeup of the student who apply. That's nonsense. Harvard, like all selective colleges, decides who to admit. It rejects 90% of applicants, so it could easily put together a freshman class of smart, well-qualified students who better represent the economic diversity of the nation if wanted to. It just doesn't want to, because a lot of the admissions spots are reserved for athletes, legacies, children of the rich, famous, and powerful, and students who come through the quasi-aristocracy of east coast private schools.

The makeup of the overall applicant pool, moreover, isn't outside of the university's control. What if Harvard took $10 million and used it to create an office of people who'se only job was to identify and recruit the best and brightest low- and moderate-income students from across the nation, with a specific goal of substantially increasing the number of slots for such students and thus decreasing the number set aside for the children of wealthy donors? THAT would be front-page news.