Free ride to Harvard?

There's an e-mail making the local rounds saying that Harvard University has just decided to offer free tuition to students whose families earn less than $60,000 a year.

You haven't seen a news story because the decision was actually made about five years ago, according to Harvard's financial aid office. A staffer said the office is getting calls from across the country, as the e-mail has gone viral.

The basic information is sound: Students who are admitted pay nothing if their family income is less than $60,000. There's a sliding scale for incomes from $60,000 to $180,000.

The catch is you still have to get into Harvard, and that's no easy feat. But the message is a good reminder that extraordinary students may be able to get a top-notch private education without taking on a massive debt burden. A growing number of such schools, including Davidson College closer to home, have shifted to covering financial need with grants instead of loans, saying it helps them get the best students regardless of family wealth.