This week in college admissions, Harvard announced a major expansion to its financial aid, the University of Delaware received an unprecedented gift, the number of students applying to college rose during this admissions cycle, Johns Hopkins announced major layoffs, and a new report showed that philanthropic giving is on the rise.
Harvard announced that an undergraduate education at Harvard College will be cost-free for families with an annual income of $100,000 or less, and tuition-free for families with an annual income of $200,000 or less. This major expansion in financial aid will begin in the 2025-26 academic year.
The University of Delaware announced a $71.5 million gift– the largest in the University’s history. The funds, gifted by two UD married alumni, will go towards the Alfred Lerner College for Business and Economics.
The number of students applying to college via the Common App rose 4 percent this admissions cycle, and applicants submitted 6 percent more applications overall. This spike was fueled by a dramatic increase in the number of underrepresented minority student applicants, which rose by 12 percent compared to non-URM applicants’ increase of only 2 percent.
Johns Hopkins announced that it will be cutting over 2,200 jobs, the largest layoffs in its history. The move is tied directly to the Trump administration’s recent cuts to the U.S. Agency for International Development, which resulted in an $800 million funding hit to the University. Federal cuts have also been announced for the University of Pennsylvania and Columbia.
Philanthropic giving to higher ed institutions is on the rise, according to a new report. When adjusted for inflation, philanthropic gifts increased 3 percent from 2023 to 2024– for a total of $61.5 billion. Nearly half of all endowment gifts were designated for student financial aid.
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