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Harvard University has announced a major expansion of its financial aid program, making college free for students from families earning $100,000 or less annually and tuition-free for those from families earning up to $200,000. This initiative, which takes effect in the 2025-26 academic year, aims to make Harvard more accessible, particularly for middle-income families.
Harvard President Alan M. Garber and Edgerley Family Dean of the Faculty of Arts and Sciences Hopi Hoekstra made the announcement Monday, highlighting the University’s commitment to increasing socioeconomic diversity on campus.
“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,” Garber stated. “By bringing people of outstanding promise together to learn with and from one another, we truly realize the tremendous potential of the University.”
The expansion will allow approximately 86 percent of U.S. families to qualify for financial aid at Harvard College. This move continues the University’s long-standing effort to remove financial barriers for talented students.
A Comprehensive Financial Aid PackageStarting in the 2025-26 academic year:
Students from families earning $100,000 or less will receive full coverage for tuition, housing, food, health insurance, travel costs, and other billed expenses. Additionally, they will be awarded a $2,000 start-up grant in their first year and a $2,000 launch grant in their junior year to support their transition beyond Harvard.Students from families earning $200,000 or less will receive free tuition, along with additional financial aid based on their specific circumstances to cover remaining expenses.Students from families earning above $200,000 may still qualify for aid, depending on their financial situation. Harvard’s financial aid staff will continue working individually with families to tailor support.“Harvard has long sought to open our doors to the most talented students, no matter their financial circumstances,” said Hoekstra. “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.”
Building on Decades of Financial Aid GrowthHarvard’s expansion builds on more than 20 years of increasing financial aid accessibility. The Harvard Financial Aid Initiative, launched in 2004, initially covered tuition, food, and housing for students from families earning $40,000 or less. This threshold has since increased multiple times, most recently to $85,000 in 2023.
In 2007, Harvard eliminated loans from its financial aid packages, shifting entirely to grants. It also removed home equity considerations when assessing a family’s ability to pay. Since the initiative’s inception, the University has awarded more than $3.6 billion in undergraduate financial aid.
For the 2025-26 academic year, Harvard College’s financial aid budget will total $275 million, with 55 percent of undergraduates currently receiving some form of assistance. In the 2023-24 academic year, aided families paid an average of $15,700 toward their child’s education.
“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,” said William R. Fitzsimmons, Harvard College’s dean of admissions and financial aid.
Harvard’s latest financial aid expansion reaffirms its dedication to ensuring affordability for students from all socioeconomic backgrounds. With this new policy, the University continues its mission of fostering a diverse and inclusive academic environment where students can thrive without financial constraints.