<p>Sept. 15 (Bloomberg) -- Harvard University's decision this week to drop early admissions may deepen its centuries-old rivalry with Yale University for the most gifted students, whatever their financial circumstances. </p>
<p>Hours after interim Harvard President Derek Bok said early admissions favored wealthier applicants, Yale President Richard Levin questioned whether the move would mean more low-income students would be admitted. Levin said he preferred additional financial aid and recruitment. </p>
<p>In recent years, Harvard, in Cambridge, Massachusetts, and Yale, in New Haven, Connecticut -- both with annual student charges exceeding $43,000 -- have matched each other's aid packages for low-income families almost step for step. Now, Harvard's move may hand Yale and other elite schools an admissions advantage. Because early-decision programs can boost a student's chance of admission, any school without such a program may lose applicants to rivals. </p>
<p><code>Institutions like Yale are going to think they may have a competitive advantage,'' said Baltimore education consultant Richard Hesel, a former administrator at Princeton University in Princeton, New Jersey.</code>All the elite institutions worry about competition with Harvard because Harvard usually takes them to lunch.'' </p>
<p>Harvard says it knew what it was getting into. </p>
<p>``We acknowledge that there is a risk,'' said Harvard Dean of Admissions William Fitzsimmons, 62, adding that the school might reverse its decision if a review finds it isn't working...</p>