Harvard University is making a groundbreaking change to its financial aid policy! Starting from the 2025-26 academic year, students from families earning $200,000 or less per year won’t have to pay for tuition at all.
This move aims to make higher education more accessible to a wider range of students, ensuring that finances don’t hold back talented minds from getting a world-class education.
More Students Can Now Afford Harvard
This expansion in Harvard’s financial aid program is expected to benefit nearly 86% of U.S. families, according to Harvard University President Alan M. Garber.
He emphasized that widening access to financial aid will bring together students from diverse backgrounds, helping them learn, grow, and thrive in a vibrant academic environment.
But that’s not all—students from families earning $100,000 or less per year will receive full financial coverage, including tuition, housing, food, and healthcare services. This means they can focus on their education without worrying about financial burdens.
The Cost of a Harvard Education
Currently, Harvard’s tuition alone costs $56,550 per year, and when you add housing, food, and other services, the total jumps to $82,866 annually. This new initiative will significantly reduce the financial pressure on students and their families, making a Harvard degree more accessible than ever.
Harvard’s Ongoing Commitment to Financial Aid
Harvard has been working for years to increase affordability for students. In 2004, the income threshold for free tuition was set at $40,000, then increased to $60,000 in 2006, and most recently, $85,000 in 2023. This latest expansion is Harvard’s biggest step yet in ensuring that students from middle-class families can attend without financial stress.
William R. Fitzsimmons, Harvard’s Dean of Admissions and Financial Aid, highlighted that students from all socioeconomic backgrounds should feel confident that Harvard is a place where they belong. “We want every talented student to know that Harvard is within reach, no matter their financial situation,” he said.
A Huge Leap for Future Students
This initiative builds on Harvard’s long-standing commitment to reducing student debt. Over the years, the university has replaced loans with grants and eliminated home equity considerations when determining financial aid eligibility. Since launching the Harvard Financial Aid Initiative in 2004, the university has awarded over $3.6 billion in aid to undergraduates.
With this bold new policy, Harvard is proving that top-tier education doesn’t have to come with a top-tier price tag. This is great news for aspiring students dreaming of an Ivy League education without the financial stress!
