NYT: article on "financial aid arms race"

Parent Cafe
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<p><a href="http://www.nytimes.com/2006/03/31/education/31harvard.html?_r=1&oref=slogin%5B/url%5D"&gt;http://www.nytimes.com/2006/03/31/education/31harvard.html?_r=1&oref=slogin&lt;/a&gt;&lt;/p>

<p>Harvard now says it will expect no family contribution from families with incomes under $60K.</p>

<p>It's also lowering the expected family contribution from families with incomes up to $80K.</p>

<p>More details here:</p>

<p><a href="http://www.thecrimson.com/article.aspx?ref=512386%5B/url%5D"&gt;http://www.thecrimson.com/article.aspx?ref=512386&lt;/a&gt;&lt;/p>

<p>Students will now be allowed to use outside scholarships (e.g., National Merit, Byrd, Gates, etc.) to replace the $2,000 Harvard normally expects students to contribute from summer earnings.</p>

<p>(For several years now, Harvard has already allowed students to use outside scholarship monies to replace self-help loan and work-study campus job expectations.)</p>

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<p>I am not sure how Harvard was able to NOT allow students to replace the self-help or summer earning portion with outside scholarships? I thought that only the EFC was unavailable for "replacement" and that students could always borrow the value of the expected summer earnings.</p>