Yale University plans to raise spending on financial aid by about $22-milllion per year, Bloomberg.com reported on Tuesday.
In an interview with Bloomberg Television, Richard C. Levin, Yale’s president, said the university would announce a plan next week to enhance its financial-aid packages for families whose annual salaries lie between $120,000 and $200,000, as well as for those with lower incomes.
On Monday, Yale announced that it would increase its endowment-spending by 37 percent to finance a “dramatic” expansion of its financial-aid program, among other goals.
In December, Harvard University unveiled a new tuition-assistance program designed to help families who earn between $120,000 and $180,000. Harvard officials said the university would spend an additional $22-million annually on financial aid.
“I think when this is all over,” Mr. Levin said, “money will not be a consideration in choosing Harvard over Yale or Yale over Harvard.” —Eric Hoover
