I don't understand this. When Harvard or CalTech says that anyone admitted will not be turned away due to financial hardship, it's because the loans are issued with a qualification based on their admission. 100k or any other price, the current financing structure remains the same.
I believe Harvard also guarantees some students (from families below a certain income level) don't need to take out loans.
They guarantee that for students from families making about $120K or less, which is to say nearly two-thirds of the country.
True, but what percent of their admitted class?
At Caltech, students from families making $90K or below, will receive a no loan financial aid package (package will consist of grants and work-study).[0]