On October 12, 2007, Faust delivered her installation address as the president of Harvard at Cambridge, Mass., saying, a university is not about results in the next quarter; it is not even about who a student has become by graduation. It is about learning that molds a lifetime, learning that transmits the heritage of millennia; learning that shapes the future.
One of Fausts first initiatives after assuming the presidency was to significantly increase financial aid at Harvard College. On December 10, 2007, Faust announced a transformative new policy for middle-class and upper-middle-class students that limited parental contributions to 10 percent for families making between $100,000 and $180,000 annually, and replaced loans with grants. In announcing the policy Faust stated, Education is the engine that makes American democracy work...And it has to work and that means people have to have access. The new policy also expanded on earlier programs that eliminated contributions for families earning earning less than $60,000 a year and greatly reduced costs for families earning less than $100,000. Similar policies were subsequently adopted by Stanford University, Yale University, and many other private U.S. universities and colleges.
She has made it a priority to revitalize the arts at Harvard and integrate them into the everyday life of students and staff. Faust has worked to further internationalize the University and has been a strong advocate for sustainability and has set an ambitious goal of reducing the Universitys greenhouse gas emissions, including those associated with prospective growth, by 30 percent below Harvards 2006 baseline by 2016.
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