<p>Harvard financial aid "rule" is that if your parents make more than $120,000 they must contribute only 10% of their income. (if they make less than 100K then tuition is free, etc etc) </p>
<p>Does this 10% contribution also cover room and board (as in...the 10% is the final cost) or does it mean that my parents have to pay 10% of their income (for tuition) AND THEN ALSO PAY FOR cost of room/board/etc?</p>
<p>does anyone know what the 10% contribution means?</p>
<p>Harvard financial aid (10% or not) goes toward the costs of tuition, room, and board. They even figure in their estimated cost of books, transportation, etc. This does NOT mean that they cut you checks for books or airfare.</p>
<p>However, the 10% is not as clearcut as it sounds. They look at all assets as well as income - so don’t assume it’s a straight 10%. It’s not.</p>