"Our students earned over $10 million in outside awards," Fitzsimmons said, "and roughly half those students are on financial aid."

Even if the economy does not continue its current record pace over the coming years, he said, Harvard is prepared to maintain its commitment to financial aid.

"One of the reasons we've pushed so hard for the financial aid in the capital campaign is that no one here believes the good times will roll on forever," Fitzsimmons said. "We're as ready as we're going to be."

As Harvard has continued to emphasize minority recruitment, the recent appointment of Ruth J. Simmons as the next president of Brown University may play some role in how students ultimately choose their college.

Simmons will be the first black president in the Ivy League, and as another early action school, Brown competes with Harvard for students.

While Fitzsimmons said he thinks Simmons' appointment may affect admissions decisions this year, he expects that it will also benefit Harvard in portraying the Ivy League as more accessible.

"It sends a message," Fitzsimmons said. "While I think it will certainly be helpful to Brown, I think it will be helpful to the whole Ivy League and to higher education as a whole."

The admissions committee is scheduled to finish its deliberation on December 12 and send out decisions on December 15.