Harvard University announced on Monday that it will begin offering free tuition to students from families with annual incomes of $200,000 or less.
The Ivy League school based in Cambridge, Massachusetts, stated that students from families earning $100,000 or less will receive full financial aid, while those from families making up to $200,000 will have their tuition fully covered.
This expansion of financial aid reflects Harvard’s long-standing commitment to making college more accessible, particularly for middle-income families.
“Making Harvard financially accessible to more individuals broadens the range of backgrounds, experiences, and perspectives that our students engage with, enhancing their intellectual and personal growth,” said Harvard President Alan M. Garber in a news release. “By bringing together individuals of exceptional promise to learn from one another, we fully realize the immense potential of the University.”
Harvard announced that this new level of financial aid will be available starting in the 2025 academic year. The expanded program will allow approximately 86% of U.S. families to qualify for financial aid at Harvard College, according to the university.
Harvard currently covers tuition, housing, and food expenses for students from families with an annual income of $85,000 or less.
Here’s what you need to know about Harvard’s recent announcement and the factors that may have influenced it.
Will everything at Harvard be free for qualifying students?
For students from families with incomes of $100,000 or less, financial aid will cover tuition, fees, food, housing, and other expenses, according to Harvard.
Students from families with incomes of $200,000 or less will receive free tuition along with additional financial aid, according to the school.
Students from families earning more than $200,000 will still be eligible for personalized financial aid, which will consider each family’s unique financial situation and provide assistance as needed, the college stated.
“Harvard has always strived to provide access to the most talented students, regardless of their financial background,” said Hopi Hoekstra, Dean of the Faculty of Arts and Sciences, in the release. “This investment in financial aid is designed to make a Harvard College education accessible to every admitted student, allowing them to follow their academic passions and make a positive impact on our future.”
More than half of Harvard’s undergraduates receive financial aid.
Harvard reports that 55% of its undergraduates receive financial assistance, with these students and their families contributing an average of $15,700 for the 2023-2024 academic year.
The average annual tuition for an undergraduate in the 2024-25 academic year is $56,550, according to the university’s website. Harvard enrolls approximately 24,600 undergraduate students each year, and for the Class of 2028, it accepted just 3.59% of the 54,008 applicants in 2024.
“We recognize that the most talented students come from a wide range of socioeconomic backgrounds, from every state and around the world,” said William R. Fitzsimmons, Dean of Admissions and Financial Aid at Harvard College, in a statement. “Our financial aid is essential to ensuring that these students understand that Harvard College is a place where they can be part of a dynamic learning community enriched by their presence and participation.”
Since launching the Harvard Financial Aid Initiative in 2004, Harvard has awarded over $3.6 billion in undergraduate financial aid. The university’s financial aid budget for the 2025-26 academic year is $275 million.
