It costs roughly $245,000 to get an undergraduate degree from Harvard College. That is more than 21 million Kenyan shillings, 32 million Sri Lankan rupees, 52 million Yemeni Rials, and 405 million Nigerian naira.
Without a doubt, this is a lot of money anywhere in the world, even without taking different currencies or exchange rates into account. Most American families certainly could not afford to cough up that much money for four years of college, which is why Harvard revolutionized its financial aid system in 2007 to make its education accessible to those of lesser means. But even if they were not given aid, children of these families would probably choose to attend other, less expensive colleges across the United States. They could, for example, attend their state university, and thereby pay in-state fees which are significantly lower than that of an Ivy League university. Four years of an undergraduate degree at UC Berkeley costs a California resident about $133,000 at current rates. A student from New Jersey could attend Rutgers for $100,000. An in-state University of Michigan undergraduate would pay about $105,000 for four years of college. While it could certainly be argued that Harvard offers education and opportunities that befit its high tuition fees, the fact of the matter is that a U.S. resident could, if they had to, choose from other cheaper alternatives for a relatively high-quality college education.
The Nigerian, Yemeni, Sri Lankan or Kenyan student, however, does not have such great options. Less developed countries traditionally have intrinsic issues with their higher education systems: lack of funding, politicization, unionization, lower access to research, and often an educational culture which values memorization above innovation. The brightest and the best students in these nations often do not have as much access to top-quality higher education options as their American counterparts. The Harvard Financial Aid Initiative takes a giant leap towards fixing issues of access for those students. Unlike many other Ivy League schools and other internationally recognized institutions such as Oxford and Cambridge, Harvard does not discriminate in its financial aid program against international students. It extends its “need-blind” policy to every student it accepts, regardless of whether they come from Idaho or India.
Kenneth Griffin’s massive donation may offend some people who think that already well-endowed institutions do not need that kind of funding above other charitable organizations. That standpoint simply does not understand the value of financial aid in enabling an international student to obtain a Harvard education. Considering the passion for innovation, entrepreneurship, and public service that a Harvard education inspires in its international students who can later take these qualities back to their home countries, the net impact of Griffin’s donation on these countries cannot be quantified.
A Harvard education will not make every student change the world. But if you provide an education for a motivated student who would go back to Nigeria, Sri Lanka, Yemen, or Kenya and use their skills for good, you have changed the world for the better. Kenneth Griffin has indeed done this, and should be applauded for it.