Harvard expands financial aid — Harvard Gazette

Harvard University President Alan M. Garber and Edgerley Family Dean of the Faculty of Arts and Sciences Hopi Hoekstra on Monday announced that Harvard College will be free for students from families with annual incomes of $100,000 or less and tuition-free for students from families with annual incomes of $200,000 or less. This significant expansion of financial aid, which begins in the 2025-26 academic year, will make Harvard affordable to more students than ever, especially from middle-income families.

“Putting Harvard within financial reach for more individuals widens the array of backgrounds, experiences, and perspectives that all of our students encounter, fostering their intellectual and personal growth,” Garber said. “By bringing people of outstanding promise together to learn with and from one another, we truly realize the tremendous potential of the University.”

The expansion will enable approximately 86 percent of U.S. families to qualify for Harvard College’s financial aid, extending the University’s commitment to providing all undergrads the resources they need to enroll and graduate.

“Harvard has long sought to open our doors to the most talented students, no matter their financial circumstances,” said Hoekstra. “This investment in financial aid aims to make a Harvard College education possible for every admitted student, so they can pursue their academic passions and positively impact our future.”

Starting in the 2025-26 academic year, Harvard College will be free for students whose family income is $100,000 and below. This covers all billed expenses including tuition, food, housing, health insurance, and travel costs. Additionally, each of these students will receive a $2,000 start-up grant in their first year and a $2,000 launch grant during their junior year to help support the transition beyond Harvard.

Students with family incomes of $200,000 or less will receive free tuition and additional financial aid to cover billed expenses, depending on their financial circumstances. And many students with family incomes above $200,000 will also receive aid, depending on their circumstances. Harvard’s financial aid staff work personally and individually with students and families to match each family’s specific situation.

“We know the most talented students come from different socioeconomic backgrounds and experiences, from every state and around the globe,” said William R. Fitzsimmons, Harvard College’s dean of admissions and financial aid. “Our financial aid is critical to ensuring that these students know Harvard College is a place where they can be part of a vibrant learning community strengthened by their presence and participation.”

The expansion builds on more than two decades of investment in undergraduate financial aid at Harvard, beginning in 2004 with the launch of the Harvard Financial Aid Initiative, which completely covered tuition, food, and housing costs for students from families with annual incomes of $40,000 or less. This threshold has increased four times since then — from $60,000 in 2006 to $85,000 in 2023.

In 2007, Harvard eliminated loans, providing all assistance in the form of grants. It also eliminated home equity in determining a family’s ability to pay for College.

Harvard has awarded more than $3.6 billion in undergraduate financial aid since launching the Harvard Financial Aid Initiative. Harvard College’s annual financial aid award budget is $275 million for academic year 2025-26. Fifty-five percent of undergraduates currently receive financial aid. Their families paid an average of $15,700 for the 2023-24 year.

“Our team works closely with each student to ensure full inclusion in the Harvard experience,” said Griffin Director of Financial Aid Jake Kaufmann. “The financial aid program is designed so that Harvard students can study, train, research, create, and fully engage in the Harvard experience with minimal constraints.”

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