Harvard University has adopted a new financial aid policy. It’s geared toward reaching out to families who are considered middle-low income ($180,00-$60,000). And if you’re in the low end (below $60,000)–hold on to your socks–your child can attend at no cost! That’s right; an Ivy league education FREE OF CHARGE.

According to President Drew Faust:

Our new financial aid policy has dramatically reduced the amount families with incomes below $180,000 are expected to pay, and parents of families with incomes below $60,000 are not expected to contribute at all to college costs. We no longer consider home equity as a resource in our determination of a family contribution, and students are not expected to take out loans, which have been replaced by need-based Harvard scholarship. This new program has reduced the cost to middle income families by one-third to one-half, making the price of a Harvard education for students on financial aid comparable to the cost of in-state tuition and fees at the nation’s leading public universities.

What’s the catch? Your child has to be accepted. But if you have an honor student who has the grades and can meet their admission criteria, my advice to you is to GO FOR IT! With the cost of education rising every year, Harvard has taken the lead by offering this amazing opportunity and making their school affordable to the middle class. They are even claiming that the graduating class of 2008 is graduating with ONLY an $8300 debt. Considering the cost of a Harvard education, that’s a remarkable claim.

What have you got to lose? A $200,000 private university education completely PAID IN FULL. I don’t know about you but I wish it had been available when my kids were applying for financial aid and scholarships. It would have eased the burden and provided a much-needed financial savings.

You can read all about the offer by clicking this link:

Harvard College Financial Aid Office