Harvard's endowment has dropped by $8 billion leading to salary freezes etc.

<p>It should be beneficial for anyone with similar concerns to note the following paragraph in President Drew Faust’s Letter to the Community dated Feb. 18, which was sent to all faculty, staff, students, alumni and their families: </p>

<p>“The economic crisis, of course, has stressed the resources of many of our students and their families. With that in mind, we are working to make sure we restrain growth in tuition and fees for next year, while affirming our robust commitment to financial aid. Our various graduate and professional schools plan to maintain their strong student aid and fellowship budgets for 2009-10. For undergraduates in Harvard College , the package of tuition and fees will increase by 3.5% next year – at the same time we carry forward in full the financial-aid initiatives we have introduced in recent years to ensure that a Harvard College education is affordable for families across the income spectrum. Since 2004, we have doubled the amount we spend on undergraduate financial aid. (See the related news release at <a href=“http://www.news.harvard.edu/r/tuition.html.)”>www.news.harvard.edu/r/tuition.html.)</a>”</p>

<p>My family and I greatly appreciate Harvard’s commitment and efforts to keep the best available financial aid program and undergraduate research opportunities under the current situations. We have just received the information for next year’s financial aid which is as generous as the current year. So, try to get in first and then make your choice with a thorough comparison… You won’t be disappointed.</p>