"Tuition at private universities has skyrocketed over the past 20 years, but over the last few months a number of elite institutions have unveiled plans to make college more affordable for undergraduate students," CNBC reports. "Since December 2007, six of the eight Ivy League universities have announced major overhauls to their financial aid offerings, which in most cases substantially increases aid for low- and middle-income families. It may be no coincidence, however, that this financial aid windfall comes just months after the Senate Finance Committee held public hearings on the cost of higher education, focusing on ballooning tuition and tax-exempt endowments."