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Originally Posted by Robbie
No, but once the govt. started it's huge student loan program...the universities like Harvard saw that they could raise prices to the moon. And they did.
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Bullshit.
Private universities are using interest from their endowments to give student financial aid.
Harvard University's largest-in-the-country endowment saw returns of 15.4 percent in the last year, and now stands at $36.4 billion.
Harvard?s Endowment Is Bigger Than Half the World?s Economies - Business news - Boston.com
Financial aid increases by $10M | Harvard Gazette
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To keep Harvard College affordable for students from every financial background, Harvard College will increase its financial aid budget for the 2013–14 academic year by $10 million, or 5.8 percent, bringing the total to a record $182 million. Since 2007, Harvard’s investment in financial aid for undergraduates at the College has increased by 88 percent.
More than 60 percent of Harvard College students annually receive need-based scholarship aid, paying on average $12,000 toward the cost of tuition, room, and board. As a result, approximately 20 percent of families pay nothing and many College students graduate debt-free.
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