As if you needed any more reasons to love Harvard, here is one more. Harvard has done away with all loans, and made them grants. They have the most advanced financial aid program on the planet. If your family’s income is $60k or less per year, then you pay nothing. If you make between $60k to $120k then you pay a percentage of your income (not to exceed 10%). And if you make $120k-$180k then you pay 10%.
That is genius. Their endowment is so huge that they don’t need your tuition money. They are more concerned with getting the best students. They will give you a free education as long as you qualify. Compare that to normal state universities that just want your money. How many times did you feel like your college was nickel-and-diming you?
So what’s next? Well, it’s simple. Get your kids into Harvard. It is worth it.
Peter Dunn a.k.a. Pete the Planner® is an award-winning financial mind and a former comedian. He’s a USA TODAY columnist, author of ten books, and is the host of the popular radio show and podcast, The Pete the Planner Show. Pete is considered one of the foremost experts on financial wellness in the world, but he’s just as likely to talk your ear off about bass fishing.