Some institutions lower their tuition

Several colleges and universities, including Duke, Yale, Pomona, Swarthmore and Stanford, have announced plans to join Harvard University and give middle-income students a tuition reprieve, Newsweek magazine reported. The schools’ plans include not asking students to pay more than 10 percent of their families’ annual income to attend. While some agree the financial aid will benefit students, some economists say the aid could hurt flagship public institutions by removing top students who were previously unable to afford an Ivy League education.