Strategic planning and budget processes

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Finance

Strategic planning and budget processes: Harvard University

Demographics

Harvard is fairly balanced in terms of its gender breakdown. Of its 6,678 undergraduates 51% are women and 49% are men. 15% are in-state students, 85% are out-of-state students. Harvard is extremely diverse: only 41% are of White/Non-Hispanic origin, with the next largest group that of Asian/Pacific Islanders, at 19% of the student population (at a glance: Harvard College, 2009, College Board)

Affordability

About 70% of Harvard students receive some form of financial aid, making the school more affordable than its stated figure of nearly $40,000 yearly tuition might suggest. Nearly 60% of Harvard undergraduates receive need — based scholarships (Financial aid, 2009, Harvard College Website). Admission to Harvard is need-blind and international students have the same access to financial aid as United States citizens. Financial aid is need-based rather than merit-based. 100% of students with demonstrated financial need have their needs met with a financial aid package (Financial aid, 2009, Harvard College Website). Average indebtedness at graduation was $10,813 (Cost and financial aid: Harvard College, 2009, College Board)

Tuition is assessed in a unique fashion at Harvard. Students with financial need are not required to take out loans, and tuition of needy students is calculated based upon the income of the student’s parents. “Parents of financial aid recipients are asked to contribute on average from 0 to 10% of their annual income, with no contribution expected for families with incomes of under $60,000. Those parents with annual incomes of between $120,000 and $180,000 are asked to contribute an average 10% of their income, with a declining percentage — from 10 to 0 — for parents with annual incomes between $120,000 and $60,000” (Harvard College Website, 2009, Financial aid). Harvard students also have attractive work study options to make additional personal income, such as working under a faculty member during the summer.

Consortiums and collaborations

Harvard is part of the original Ivy League sporting conference, encompassing Yale, Princeton, Brown, the University of Pennsylvania, Cornell, and Dartmouth. Harvard students are also able, with permission, to take classes at MIT and at Harvard graduate institutions. Harvard offers extensive study abroad options.

Intercollegiate athletics

Harvard has 41 Division I intercollegiate varsity sports teams for women and men, more than any other Division I college in the country. Harvard is also a proud member of the Ivy League, which is a sporting conference of some of the nation’s finest academic institutions (Athletics, 2009, Harvard College).

Community involvement

Harvard has an extensive network of student-directed community service organizations: “Students direct over 120 different programs in and around the Greater Boston area” (Community outreach, 2009, Harvard College). Student-lead groups include afterschool tutoring programs for the disadvantaged members of the community, health awareness and drug abuse prevention programs, mentoring of young people, adult education programs, social justice and advocacy programs, and Habitat for Humanity. Students are very involved in student government, journalism, and other efforts that express their public spiritedness and commitment to serve others.

Standards and accountability

As well as being an internationally famous institution, with national accreditation, Harvard is regionally accredited with the New England Association of Colleges and Schools (at a glance: Harvard College, 2009, College Board).

Works Cited

At a glance. (2009). Harvard College. College Board. Retrieved June 21, 2009 at http://collegesearch.collegeboard.com/search/CollegeDetail.jsp?collegeId=1251&profileId=0

Athletics. (2009). Harvard College. Retrieved June 21, 2009 at http://www.admissions.college.harvard.edu/about/beyond/athletics.html

Community outreach. (2009). Harvard College

http://www.admissions.college.harvard.edu/about/beyond/community.html

Costs and financial aid. (2009). Harvard College. College Board. Retrieved June 21, 2009 at http://collegesearch.collegeboard.com/search/CollegeDetail.jsp?collegeId=1251&profileId=2

Financial aid. (2009). Harvard College. Retrieved June 21, 2009 at http://www.admissions.college.harvard.edu/financial_aid/index.html

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