Harvard Offers Free College for Students from Families Earning $100K or Less.
In an effort to make higher education more accessible, Harvard College has announced a significant expansion of its financial aid program, set to begin in the Fall of 2025.
Under the new plan, students from families with annual incomes of $100,000 or less will receive a free ride, including full coverage for housing, tuition, and other billed expenses. Furthermore, students from families with incomes of up to $200,000 will have their tuition covered, with additional financial assistance based on their needs.
A New Standard for College Affordability
This expansion makes Harvard College financially accessible to a broader range of U.S. families. By offering free tuition and housing for students with family incomes of $100,000 or below, and free tuition for those with incomes up to $200,000, Harvard aims to remove barriers for low- and middle-income families.
With 86% of U.S. families qualifying for aid, the move marks a significant step toward making one of the world’s most prestigious universities financially reachable for more students.
Additional Grants and Support for Students
Beyond the covering of tuition and housing, students from families making $100,000 or less will also receive $2,000 start-up grants in their first year and an additional $2,000 launch grant during their junior year.
These grants are designed to ease the transition into college and beyond. The comprehensive financial support helps students focus on their studies without the burden of financial stress.
“Harvard has long sought to open our doors to the most talented students, no matter their financial circumstances. 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.” said Dean Hopi Hoekstra.
A Long History of Expanding Access to Education
Harvard has a long history of increasing financial aid to ensure that talented students can attend, regardless of their financial situation. The new initiative builds on over 20 years of commitment to making education more affordable.
Since the Harvard Financial Aid Initiative began in 2004, eligibility for aid has increased, and the threshold for families to qualify has steadily risen. The university has phased out loans, offering grants instead to minimize student debt.
Over $3.6 billion has been awarded to students through financial aid, and the annual budget for financial aid is currently $275 million.
“We know the most talented students come from different socioeconomic backgrounds and experiences, from every state and around the globe.
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.” commented William R. Fitzsimmons, Harvard College’s dean of admissions and financial aid.
The Impact of Harvard’s Financial Aid Expansion
Harvard’s new financial aid policy will not only make college more affordable but also promote diversity within its student body. By attracting students from different socioeconomic backgrounds, Harvard enriches the academic and social experiences of all its students.
The new program will foster a wider range of perspectives, furthering the university’s mission of intellectual growth and personal development. In addition to improving access for U.S. students, this initiative will help increase the global diversity of Harvard's campus.
The Future of College Affordability
Harvard’s expansion of financial aid is a game-changer for many prospective students. It underscores the university’s ongoing dedication to reducing financial barriers for those seeking higher education.
As Harvard continues to build on its commitment to inclusivity, the impact of this new policy will likely encourage other universities to re-evaluate their financial aid structures. Ultimately, these changes will make college more attainable, providing an opportunity for countless students to benefit from a world-class education at Harvard College.
