Harvard Applications Rise to Record, Boosted by Financial Aid

March 31 (Bloomberg) -- Harvard University said the number of applicants to its undergraduate program rose to a record a year after President Larry Summers reduced the financial requirements of families who earn $40,000 to $60,000 annually.
Harvard of Cambridge, Massachusetts, accepted 2,074 of the 22,796 students who applied, for an admissions rate of 9.1 percent. About 360 of the individuals qualified for additional aid under Summers' program, the school said in a statement today.
Summers, 50, has been trying to attract more low-income students even as the annual cost of attending Harvard is forecast to exceed $44,000 for the school year that begins in September. Two-thirds of Harvard's undergraduates receive some form of financial aid, including scholarships, loans and jobs.
``Our intention was to send the strongest possible message to families across the nation that Harvard is really and truly an option for exceptionally talented students, whatever their financial means,'' Summers said in a statement. ``The results of our first full year of recruiting are encouraging.''

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