"It would be a good thing if they changed thepackage, but lowering the amount they raise itdoesn't do much," he said.
Harvard currently maintains "needblind"financial aid policies that it says allow theCollege to admit any student, regardless ofability to pay.
At present, nearly 70 percent of undergraduatesreceive some form of financial aid. This year, $42million dollars in scholarship grants wereawarded, benefiting nearly one half of the studentbody, according to Knowles.
The smaller increase in Harvard's tuition stemspartly from cost-cutting methods undertaken by theUniversity, Knowles said. He noted thateducational costs continued to grow.
"Information technology, library materials andother costs essential for sustaining Harvard'sacademic programs continue to rise faster than the[Consumer Price Index]," he said.
Also of note, the FAS endowment has grown bymore than 25 percent during each of the past twofiscal years. Over the same period, the amount offunding provided by the FAS's endowment rosenearly 16 percent, or 22 million dollars.
Currently, tuition and fees cover about halfthe cost of educating a student, Knowles said.