With a 2-3% acceptance rate, Harvard is already tough to get into. If you’re one of the select few who does get that dazzling acceptance letter, the next thing to worry about is the $60,000 annual tuition. Luckily, to make the college more accessible to those with the merit to attend Harvard, but maybe not the funds, Harvard recently announced it will waive fees for households of a certain income:
- Households earning $100,000 or less will have completely free admission to Harvard with all expenses covered
- Households earning $200,000 or less will have free tuition, meaning expenses like room and board, dining, and travel will be the responsibility of the accepted student and/or their family
This significant expansion of Harvard’s financial aid is intended to help middle-income families, the college shared.
“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,” Alan Garber, Harvard’s president, said in a recent press release.
Harvard highlights that this expansion will enable more than 86% of American families to qualify for Harvard’s financial aid. Of course, there’s just that part about getting in first.
While the news just broke, this initiative has been two decades in the making. In 2004, Harvard introduced the Harvard Financial Aid Initiative, which completely covered all costs for students from families with annual incomes of $40,000 or less. This number has more than doubled since then, increasing to $60,000 in 2006, $85,000 in 2023, and now $100,000 for the 2025-2026 academic year.
Harvard has also completely transitioned for administering loans, to only administering grants. Through the Harvard Financial Aid Initiative, the college has administered more than $3.6 billion in assistance since 2004. This new program applies only to the undergraduate college, while the graduate programs have their own financial aid process.