Harvard Increases Scholarships for Undergraduates by $2,000 a Year

Harvard University unveiled a more generous policy on financial aid last week -- eight months after its three most prominent rivals had done so.

Harvard will add $2,000 per year to every scholarship that it awards. Almost half of Harvard's 6,600 undergraduates receive need-based grants, which will now rise from an average of $15,000 per year to an average of $17,000.

The university also will allow

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