Harvard Expands Financial Aid: Free Tuition for Families Earning $200,000 or Less

*Harvard University has announced a major expansion of its financial aid program, offering free tuition to students from families earning $200,000 or less annually, beginning in the 2025-26 academic year. 

“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,” Harvard University President Alan M. Garber said in a statement, per ABC News. “By bringing people of outstanding promise together to learn with and from one another, we truly realize the tremendous potential of the University.”

This new initiative will make Harvard accessible to a broader range of students, covering nearly 86% of U.S. families.

Harvard’s undergraduate tuition is $56,550 per year, with total costs amounting to $82,866. The university enrolls around 24,600 students annually and remains highly selective, admitting only 3.59% of applicants for the Class of 2028. Approximately 55% of undergraduates receive financial aid, with families paying an average of $15,700 annually.

Since the launch of the Harvard Financial Aid Initiative in 2004, the university has awarded over $3.6 billion in aid. 

“We know the most talented students come from different socioeconomic backgrounds and experiences, from every state and around the globe,” William R. Fitzsimmons, Harvard College’s dean of admissions and financial aid, said in a statement. “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.”

This new policy reinforces Harvard’s mission to provide opportunities for students of all backgrounds, setting a precedent for financial aid in higher education.

“Our team works closely with each student to ensure full inclusion in the Harvard experience,” said Jake Kaufman, Harvard’s director of financial aid. “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.”

READ MORE FROM EURWEB.COM: Harvard’s Black Student Enrollment Drops After Supreme Court Ends Affirmative Action

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