<p>“Can someone please explain to me why Harvard is still even CHARGING for their education? With $23 billion, shouldn’t everyone get it for free? What are they doing with all that money?”</p>
<p>Well it goes to research, and maintaining the best Law, Business and Medical schools in the world in addition to providing most top PhD and Master programs. Oh yeah and goes to staying the top undergrad college. And keeping its facilities state of the art.</p>
<p>“Can someone please explain to me why Harvard is still even CHARGING for their education? With $23 billion, shouldn’t everyone get it for free? What are they doing with all that money?”</p>
<p>Because they aren’t a charity. The officers of the corporation have a duty to watch over the endowment and operations. While it could afford to do away with one year’s tuition, why should it turn away real money that is spent and needed elsewhere? Do you feel they aren’t generous for needy people?<br>
Because of the generosity of alums and good mgt practices, H is one of the most generous with financial aid extant. Why shouldn’t they ask for full pay from a family with $2M in the bank?</p>
<p>Only a fixed percentage is used each year for budgeting purposes. The endowment is meant to go on for perpetuity – you don’t eat the seed grain – especially in light of the -25% drop in its value recently.</p>
<p>This should help:</p>
<p>[Rich</a> Harvard, Poor Harvard: Vanity Fair | Vanity Fair](<a href=“http://www.vanityfair.com/online/daily/2009/06/harvard.html]Rich”>http://www.vanityfair.com/online/daily/2009/06/harvard.html)</p>
<p>Harvard didn’t admit JFK Jr., if any school won’t bend it standards it’s Harvard.</p>
<p>^I disagree; that title belongs to Caltech.</p>
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<p>Are you kidding? More people have bought their way into Harvard over the years than anyone can keep count of. Jr. wanted Brown.</p>
<p>“If they think your family will give money (large sums of money, six figure donations) it will improve your odds, HOWEVER they will not admit some student with a B average and sub-par SAT scores just because his family offers to give to the endowment. Coming from a wealthy/famous family only tends to help when you are on the low end of their admission ranges and might give you a slight ‘push’.”</p>
<p>I am afraid that is NOT true. If you have your last name on one of the libraries or just happen to be Cornelius Vanderbilt’s great great grandson/daughter, then there you go. A “B” average with “sub-par test scores” will do. They want people like you. Why keep it at $23 Billion when you can have $23.005 Billion? It’s just how the world works.</p>
<p>Most schools also offer very little international aid, so in fact many of the internationals at US universities are not only brilliant enough to over come the intense competition to get in, but also must be very rich in order to pay full price for a school that doesn’t hand out much aid to people in their situation.</p>
<p>I suspect you will need to donate US$ 5 million up front to be even considered by admissions if you are “average” - even in these trying times.</p>
<p>Ralph Lauren donated $3 Million to Duke and then both of his sons attended… coincidence? I think not.</p>
<p>By the way, Harvard has a high percentage of full-pay students (something like 60% aren’t on financial aid, and financial aid goes up to $180,000 …!) because students with a high socioeconomic status generally have better applications. They go to good schools, usually have well-educated parents, might be legacies, have money for expensive but cool ECs, generally score better on the SAT and the ACT (not necessarily due to the prep they can afford), are able to volunteer instead of work, etc.</p>
<p>…are you serious? Harvard is not a cheap whore.</p>
<p>“parents would have all money to cover all tuitions and fees for college for all four years” </p>
<p>If you are an average international student, this is only the BASELINE to apply any schools in US.</p>
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<p>I thought it was the other way around … not that RL donated to Duke and whaddya know, his children were favored … but that Duke actively courted the Lauren family as his children (I believe a son and a daughter) were nearing college age.</p>