Harvard will contribute $150 million to Radcliffe's present endowment to form a $350 million dowry for the new Institute. $50 million of those funds will be used to support undergraduate financial aid.
As a "tub" of the University, the dean of Radcliffe will not have the formal consulting power regarding the welfare of undergraduates that Wilson has technically enjoyed as president.
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The president of Radcliffe currently serves on the Faculty Council and is permitted to attend full Faculty meetings. Wilson's input also must be considered in the selection of House Masters.
Harvard and Radcliffe officials are convening an official press conference today at 3 p.m. to announce the merger.