Give Us Our Money

Last week, Harvard received a financial aid increase from the Federal Government. On Tuesday, the U.S. House of Representatives voted to increase Pell Grants by $400. Unfortunately, instead of going to students, that money will go straight into the deep pockets of the University.

Instead of upping financial aid per student, which this governmental measure was intended to do, the University will instead decrease the aid it gives to students who receive Pell Grants, cutting its cost of financial aid. Why deprive students of this extra financial boost? Because, the University argues, it already meets the students' demonstrated needs.

However, this argument is flawed. First, the University has always claimed it meets students' needs, yet this year it increased the total financial aid package by $2,000 per student--a boon for students, but also a sign that the University could have been doing more.

Secondly, students who receive Pell Grants also accept hefty loans. Harvard could and should see this increase in Pell Grants as a way for students to lessen the burden of their debts upon graduation.

Students work term-time and summer jobs to help pay for their tuition. Sometimes the obligation to make money for tuition prevents a student from taking a lower-paid, more educational internship or participating in a time-consuming extracurricular. Why couldn't this increase in federal aid help to decrease some of students' expected contribution--turning the focus of their days at Harvard toward education instead of finance?

The fact is, over two thirds of Harvard students receive some sort of financial aid. The House of Representatives recognizes the increased financial burden that college tuition places upon students and their families. Year after year, tuition just keeps rising.

After the announcement earlier this year that students would receive more financial aid, not being able to benefit from the Pell Grant increase comes as a slap in the face. Why should the University pocket money meant to go to students? Silly Harvard, financial aid is for kids, not endowments.