March 19, 2025

In a bold move, Harvard University has announced a significant expansion of its financial aid program, making college more affordable for more students. Starting with the 2025-2026 academic year, Harvard will provide free tuition for students whose families earn up to $200,000 annually, while those from families earning less than $100,000 will pay nothing at all - receiving full coverage for tuition, housing, food, and other expenses.

Harvard's leadership has framed this initiative as part of a broader commitment to diversifying the student body and ensuring that financial constraints don't prevent talented students from attending. This expansion represents Harvard's ongoing efforts to make its education accessible to qualified students regardless of their financial circumstances.

The university estimates that nearly 90% of American families with children accepted to Harvard will now qualify for some form of financial aid. 

The cost of attending Harvard is substantial, with the estimated total cost of a four-year undergraduate degree reaching approximately $346,820. 

For the 2024-2025 academic year, the annual cost of attendance is $86,705, which includes tuition ($56,550), fees ($5,126), housing ($12,922), and food ($8,268). Additional expenses such as books, travel, and personal costs can further increase the overall financial commitment. 

For the next school year, the expanded financial aid program offers three tiers of support:

Full Coverage ($100,000 and below)
Families earning less than $100,000 annually with typical assets will receive complete coverage of all expenses, including tuition, fees, food, housing, health insurance, travel costs between campus and home, and even winter gear. Students will also receive a $2,000 start-up grant in their first year and a $2,000 launch grant in their junior year to help prepare for post-Harvard life.

Free Tuition ($200,000 and below)
Families earning between $100,000 and $200,000 annually will receive free tuition plus (potentially) additional financial aid based on individual circumstances to help cover other expenses. Accepted students in this tier should typically expect to pay for room and board and other incidentals on their own.

Tailored Financial Aid (above $200,000)
Some students from families with incomes above $200,000 may still be eligible for financial aid, determined on a case-by-case basis.

Harvard's financial aid policy does not expect students to take on loans, making it one of the few institutions that are need-blind for admissions, meet 100% of financial need, and offer loan-free financial aid packages.

Use the net price calculator, a tool provided by Harvard, to estimate your cost of attendance based on your family's financial situation. This calculator takes into account your family's income, assets, and other financial factors to give you a more accurate estimate of what you can expect to pay. 

Harvard's financial aid policies apply to international students as well as domestic ones. In addition, the university maintains a need-blind admission policy for all applicants, regardless of citizenship. This means that financial need does not impact admissions decisions. International students are eligible for the same financial aid packages as domestic students, making Harvard one of only a few U.S. institutions that offer need-blind admissions and full-need financial aid to non-U.S. citizens.

This inclusive approach ensures that talented students worldwide can benefit from Harvard's expanded financial aid program, reinforcing the university's commitment to global diversity in its student population.

While Harvard's expanded financial aid program is welcome news, it is important to acknowledge the extremely competitive nature of Harvard admissions. With an acceptance rate of 3-4%, gaining admission remains the primary hurdle for most prospective students. Thousands of highly qualified applicants compete for approximately 2,000 spots in the freshman class each year. This means that even with these generous financial aid policies, most applicants will not benefit simply because they won't be admitted. 

Harvard's expanded financial aid program is a game-changer for affordability, but gaining admission remains the primary challenge. With an acceptance rate of just 3.6% in 2024, students must go beyond academic excellence to craft standout applications that showcase their unique strengths, leadership, and potential contributions to the university.

However, it is also essential to recognize that the best college for you isn't just the most prestigious—it's the one that aligns with your academic, personal, and career goals. Finding the right fit is crucial for a fulfilling college experience and long-term success.

If you are aiming for highly competitive institutions like Harvard—or simply looking to enhance your college applications—my website and book, Mission: Accepted! U.S. College Admissions for International Students, offer valuable insights. Feel free to reach out if you would like to discuss your admissions journey further.