Harvard University announced a significant expansion of its financial aid program on Monday, offering free tuition to students whose families earn $200,000 or less per year, according to Fox News.
This landmark decision aims to make a Harvard education more accessible to a broader range of students and further diversify the university’s student body.
“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,” stated Harvard President Alan M. Garber. “By bringing people of outstanding promise together to learn with and from one another, we truly realize the tremendous potential of the University.”
The move goes even further for students from families earning $100,000 or less annually. In addition to free tuition, these students will also receive free housing, food, and health services, effectively covering the entire cost of attendance.
With the average annual tuition at $56,550, and the total cost including room, board, and health services reaching around $83,000, this expanded program represents a substantial investment in the future of deserving students.
According to Harvard, the enhanced financial aid program will allow approximately 86% of families in the United States to qualify for assistance. The university clarified that this initiative underscores “its commitment to provide every admitted undergraduate student the resources they need to enroll and graduate.”
“Our goal is to bring the most promising students to Harvard—period,” the university declared on its website.
While free tuition is limited to families earning under $200,000, Harvard assured that students from families with incomes exceeding that threshold will also be eligible for financial aid based on need.
Harvard has a long history of supporting its students financially, having awarded more than $3.6 billion in undergraduate financial aid since launching the Harvard Financial Aid Initiative in 2004.
