Harvard University announced Monday that students from families earning $200,000 or less annually will receive free tuition, expanding its financial aid program, CNBC reported.
Harvard’s leadership describes its latest financial aid expansion as part of a “decades-long commitment” to making education more accessible, particularly for middle-income families.
“Putting Harvard within financial reach for more individuals broadens the range of backgrounds, experiences, and perspectives our students encounter, fostering their intellectual and personal growth,” said Harvard President Alan M. Garber in a news release. “By bringing together people of exceptional promise to learn with and from one another, we truly unlock the University’s vast potential.”
This enhanced financial aid package will take effect at the start of the 2025 academic year. With this expansion, approximately 86% of US families will now qualify for financial assistance at Harvard College.
Currently, the university fully covers tuition, housing, and food costs for students from families earning $85,000 or less annually.
What Does This Mean for Students?
- Students from families earning $100,000 or less will have their tuition, fees, housing, food, and other expenses fully covered.
- Those from families earning up to $200,000 will receive free tuition, with additional financial aid available.
- Students from families earning over $200,000 will still be eligible for financial aid, with support tailored to their specific financial circumstances.
“Harvard has long worked to open its doors to the most talented students, regardless of their financial background,” said Hopi Hoekstra, Dean of the Faculty of Arts and Sciences. “This investment in financial aid ensures that every admitted student can pursue their academic passions and contribute positively to our future.”