Harvard University announced Monday that it was expanding its financial aid by making Harvard College free for students from families earning $100,000 or less starting in the 2025-26 academic year.
The aid will cover all major costs, including tuition, food, housing, health insurance, and travel. Eligible students will also get a $2,000 grant in their first year to help them settle in and another $2,000 in their junior year to support their transition after college, the official statement mentioned.
Meanwhile, students from families earning $200,000 or less will receive free tuition and extra financial aid to cover other costs, based on their financial situation. Certain students from families earning more than $200,000 may also get financial aid.
With this expansion, about 86% of U.S. families will now be eligible for financial aid at Harvard College, which is the university’s undergraduate school. Harvard’s financial aid team will work closely with each student and their family to provide support based on their specific needs.
Harvard leaders announce aid expansion following Supreme Court ruling
The announcement was made by Harvard University President Alan M. Garber and Edgerley Family Dean of the Faculty of Arts and Sciences Hopi Hoekstra on Monday after last year’s Supreme Court decision prohibiting race-based considerations in college admissions, the New York Times reported.
Garber said Harvard believes that making education more affordable will bring in students from diverse backgrounds, experiences, and perspectives, which will help them grow both intellectually and personally.
He further said that the university aimed to create an environment where talented individuals can learn from each other and reach their full potential. Garber added the university remained committed to giving all undergraduate students the support they need to attend and complete their education.
Hoekstra pointed out that Harvard has always aimed to welcome the most talented students, regardless of their financial situation. With this increased financial aid, the university hopes to make education accessible for all admitted students.
Harvard expands decades-long commitment to financial aid for undergraduates
Harvard has been expanding its financial aid for over 20 years. In 2004, the university launched the Harvard Financial Aid Initiative, which covered tuition, food, and housing for students from families earning $40,000 or less.
Since then, the income limit for full support has increased four times, reaching $85,000 in 2023. In 2007, Harvard stopped offering loans and provided all financial aid as grants. It also removed home equity from calculating a family’s ability to pay for college.
