[paulmd]

Harvard and company are doing massive amounts of needs-based scholarships now. If you are a high-flying middle class person you can probably pay either nothing or very little. They have massive endowments, to the tune of many tens of billions of dollars, they can fund their operation out of the interest.

On the other hand this benefits them as an institution since they can soak those legacy students for every hundred-thousand that daddy is worth and let them coast through on the reputation of those high-flyers.