How much does Harvard University plan to give in "presidential scholarships," which is a new program to encourage graduate stude

In a new program to encourage graduate students to enter public service, Harvard University plans to give ＄14 million in "presidential scholarships" over the next three years to 200 to 300 graduate students interested in public service or research careers. It will also offer below-market-rate loans to all 12,000 of its graduate and professional students—including those from outside the United States—to support students who enter less profitable public-interest careers.
     "I believe these steps represent a significant move toward the ultimate objective of drawing more young people into public service, and making possible careers of many different kinds for the most talented young students from all over the world," Harvard’s president, Lawrence H. Summers said. Mr. Summers, an economist who served as United States Treasury secretary before becoming Harvard’s president, said he had become convinced of the need for such a program as he talked to students about their career plans. "There were things they wanted to do, and they felt it was very hard to afford to do theme" he said.
     Harvard’s new loan program will begin next month and the scholarships in September. The fellowships will extend to most of Harvard’s graduate programs, excluding business and law, Mr. Summers said, because they already have "quite generous programs" for graduates who go into public service. The fellowship programs will vary by school. The medical school, for example, will supplement salaries for graduates in low-paying public service jobs. The graduate school of arts and sciences will give grants to students in the humanities and social sciences. Besides covering tuition and fees for five years, the arts and sciences fellowships will pay a ＄25,000 annual stipend—nearly ＄5,000 more than standard fellowships—and guarantee a year of support for thesis completion. Harvard expects to give at least 50 fellowships in the arts and sciences in the next three years.