Bloomberg:

Harvard College rejected 91 percent of applicants for the coming academic year, the highest rate in the school’s history, after an expansion of financial aid encouraged more students to seek admission.
A record 22,955 students applied to be part of the incoming freshman class at the college, the part of the Cambridge, Massachusetts, university focusing on undergraduate education. The school sent out 2,058 acceptance notices in December and today, according to a statement posted on its Web site.
Harvard, which has the largest endowment in the U.S. at $29.2 billion, increased financial aid for the school year starting in September to allow students from families earning less than $60,000 to attend free of charge. Undergraduate tuition, room and board and other mandatory fees will rise to $45,620 for the year.