You're right, it looks like Harvard.
Stanley Armour Dunham
Ralph Waldo Emerson Dunham
I noticed the comment about the accompanying photos and the incorrect caption for the Columbia photo as well, or is that photo one of Jr when he began attending Harvard? He seems quite mature in that photo. It definitely shows what people are up against when they are doing research on this convoluted family! I did find a 2007 article which I will post a link to here about Ralph Waldo Emerson Dunham Sr.
Here is the link to the Dunham Sr story that was in the Chicago Sun Times in 2007.
http://www.suntimes.com/news/politics/obama/familytree/545468,BSX-News-wotreeq09.article
From the picture with the article Stanley Armour Dunham didn’t take after his father.
You're right, it looks like Harvard.
Stanley Armour Dunham
Ralph Waldo Emerson Dunham