So Harvard will increase its financial aid packages. This seems like an eminently reasonable step for an organization with an endowment of billions. But lest you think sweet reason alone won out, read down into the belly of the article, where you’ll find this zinger:
The move also comes as members of Congress, concerned that tuition has
outpaced inflation, have been discussing whether universities should be
required to spend a minimum amount of what their endowments earn on
student aid. Harvard has a $35 billion endowment, the highest of any
It’s amazing how appealing voluntary action seems once it’s compared to the threat of legislation. Let’s hear it for many more examples of such public-private partnerships!