Known for its elite status among the nation's Ivy League school, Harvard University has opened its doors to low-income students who are accepted.

"Parents with incomes of less than $60,000 will no longer be expected to contribute to the cost of their children attending Harvard. In addition, Harvard will reduce the contributions of families with incomes between $60,000 and $80,000," reports Harvard's financial-aid web site.

Harvard's Financial Aid Initiative (HFAI) for low-income families started in 2004 when the university announced that families earning $40,000 annually or less would not pay tuition. In March 2006, Harvard announced it increased the low-income threshold to $60,000 annually.

"We want to send the strongest possible message that Harvard is open to talented students from all economic backgrounds," said former Harvard President Lawrence H. Summers in 2004 when announcing reduced admission for low-income families. "Too often, outstanding students from families of modest means do not believe that college is an option for them, much less an Ivy League university."

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As a result of HFAI, the class of 2011, which starts school in September, will be the most economically diverse in Harvard's history. An estimated 26 percent of students entering Harvard in September are eligible for HFAI. Since the inception of the program, there has been a 34 percent increase in aid for students from families with incomes under $60,000. Of the students admitted, 50.5 percent were women, 10.7 percent were black, 19.6 percent were Asian American, 10.1 percent were Latino, and 1.5 percent were Native American, according Harvard records.

Of students whose family earnings are more than $50,000 annually, 22 percent or 1.1 million students are enrolled in a four-year college, while 78 percent or 4 million students from families that earn more than $50,000 annually are enrolled in a four-year college, according to the U.S. Census Bureau. The Census Bureau did not provide information for families making specifically $60,000.

Ivy League admittance of low-income students is worse.

"At the 146 most competitive and selective institutions, just 3 percent of students come from families whose incomes are in the lowest 25 percent, compared with 74 percent from families in the top quarter," reported the Harvard Gazette. "At Harvard today, the picture is slightly better, with 6.8 percent of students from the lowest income category versus 74 percent from the highest category."

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