Weld Blasts Harvard On Savings Program

Governor William F. Weld '66 sharply criticized Harvard for not joining a new college tuition savings program at a press conference at the State House yesterday.

Weld urged all colleges to join the plan, and made a point of addressing Harvard's lack of participation, claiming, "It's the least [the University] can do."

"You could not lose more money in a year on this program than I have already given to this college," Weld said.

Peter Mazareas '73, director of the Massachusetts Educational Financial Authority (MEFA), helped design the tuition savings plan, which goes into effect Dec. 20.

According to a press release, "Under the program families can make lumpsum or monthly investments that are used to purchase bonds representing a fixed percentage of tuition that will be guaranteed by participating colleges and universities regardless of future tuition increases."

"We're delighted with the fact that 58 institutions have participated and we hope that Harvard will give it full consideration," said Mazareas when discussing the success of the program.

Although the 58 institutions that plan to participate in the program represent 60 percent of all colleges in the state, Harvard has still not given word of its decision on the issue.

The University's Vice President for Government, Community and Public Affairs James H. Rowe '73 said that "it is under active consideration."

"Harvard already has a system where students can get in regardless of financial need," Rowe said yesterday. "We have a system that we feel works fantastically."

Representatives of various area schools showed up at the conference in support of the program. "This plan will slow down tuition costs and it bodes well for the future of the commonwealth", said John Curry, president of Northeastern University.

State Treasurer Joseph D. Malone '78 claimed that the "program is a giant step for families throughout Massachusetts," and said he hopes "Harvard will reconsider."

Harvard's reservations about joining the plan may stern from the fact that a fixed tuition plan for students could lock colleges into prices and therefore hurt them.

Governor Weld however, tried to encourage Harvard to overcome its concerns and join the program.

The Governor ended his comments with the reminder that "if we took back all the Weld family money that has been given given to Harvard retroactively since 1630, Harvard would be bankrupt

Although the 58 institutions that plan to participate in the program represent 60 percent of all colleges in the state, Harvard has still not given word of its decision on the issue.

The University's Vice President for Government, Community and Public Affairs James H. Rowe '73 said that "it is under active consideration."

"Harvard already has a system where students can get in regardless of financial need," Rowe said yesterday. "We have a system that we feel works fantastically."

Representatives of various area schools showed up at the conference in support of the program. "This plan will slow down tuition costs and it bodes well for the future of the commonwealth", said John Curry, president of Northeastern University.

State Treasurer Joseph D. Malone '78 claimed that the "program is a giant step for families throughout Massachusetts," and said he hopes "Harvard will reconsider."

Harvard's reservations about joining the plan may stern from the fact that a fixed tuition plan for students could lock colleges into prices and therefore hurt them.

Governor Weld however, tried to encourage Harvard to overcome its concerns and join the program.

The Governor ended his comments with the reminder that "if we took back all the Weld family money that has been given given to Harvard retroactively since 1630, Harvard would be bankrupt