Harvard University made headlines on Monday with a game-changing announcement: starting in the 2025-26 academic year, it will offer free undergraduate tuition to students from families earning $200,000 or less annually. This initiative aims to make the esteemed institution more accessible to a broader range of students than ever before.
For students hailing from families with annual incomes below $100,000, Harvard is going a step further. These students will have their tuition, meals, housing, health insurance, and travel expenses completely covered. This comprehensive financial support is part of a broader expansion of Harvard’s financial aid program.
“Expanding financial access allows us to build a diverse community of learners, enriching each student’s experience with varied backgrounds and viewpoints,” stated Harvard University President Alan M. Garber in a press release. “By gathering individuals of exceptional potential to learn from and with one another, we can unlock the full potential of our University.”
The updated financial aid initiative is expected to benefit around 86% of U.S. families, making Harvard College’s educational opportunities more attainable, according to the release.
Additionally, students with a yearly family income of $100,000 or less will receive a $2,000 start-up grant during their freshman year and a similar launch grant in their junior year to aid in their transition post-Harvard.
For families earning up to $200,000 annually, tuition will be waived, and there will be extra financial aid available to cover billed expenses. This marks another milestone for Harvard, which has since 2004 enhanced its Financial Aid Initiative to cover various student expenses. As of the 2023-24 academic year, 55% of undergrads benefit from financial aid, with families spending an average of $15,700.
“As we’re aware, the brightest minds hail from all walks of life, from different socioeconomic sectors, and from every corner of the globe,” commented William R. Fitzsimmons, who serves as Harvard College’s dean of admissions and financial aid. “Our financial aid is essential to assure these students that Harvard College can provide a welcoming, dynamic learning environment that thrives on their involvement.”
Harvard is not alone in broadening financial aid. Other universities are taking similar steps to assist middle and lower-income families. Last November, the University of Texas System announced it was broadening its free tuition initiative for families earning $100,000 or less annually. Similarly, the Massachusetts Institute of Technology declared last year that it would eliminate tuition fees for undergraduates from families with incomes under $200,000.
