Under an agreement of intent to merge signed yesterday Harvard and Radcliffe will:
end Radcliffe's days as an independent college and instead create a new Radcliffe Institute for Advanced Study under Harvard's auspices.
replace the post of Radcliffe president with a new dean.
admit all undergraduates as Harvard students.
fund the new Institute with $150 million from both Harvard and Radcliffe. An additional $50 million from Radcliffe will help fund undergraduate financial aid.
convert all Radcliffe property to Harvard ownership, preserving Radcliffe occupancy.
foster programmatic and curricular interactions between the new Institute's participants and the University community.