A school like Morehouse College has a lot of catching up to do if they wanted to attract the best and brightest to their school. Especially if the best and brightest are from low-income families because expectantly access to higher education is certain to be a ticket to a higher income. No guarantee of course but if Harvard University is able to afford to allow low-income students to attend without paying tuition and utilizing student loans then one can only hope other universities could one day be able to do the same.
In which case the catching up involves money. It costs Harvard money to be able to provide free tuition dipping into endowment money. Morehouse likely couldn't ever come close, however, I'm sure there are ways they could help at least low-income students or at least help students whose family make less than $60,000/year (Harvard's threshold). Of course we know schools will work with the neediest students but my interest is to eliminate the option of student loans!