March 17 (UPI) — Harvard University on Monday announced plans to expand free tuition to more students from middle-income homes.
The university announced that beginning in the 2025-2026 academic year tuition will be free for students from families with annual incomes of $200,000 or less. In addition, attending Harvard College, the undergraduate school of Harvard University will be almost completely free for students from families with annual incomes of $100,000 or less.
Students from families who earn less than $100,000 annually will have bills for tuition, food, housing, health insurance and travel covered and will receive a $2,000 grant in their first year and another $2,000 grant during their junior year.
“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,” Harvard University President Alan M. Garber said Monday in a release.
Harvard said its latest financial aid expansion will enable roughly 86% of American students from a middle-income background to qualify for financial aid
“By bringing people of outstanding promise together to learn with and from one another, we truly realize the tremendous potential of the University,” added Garber.
The Massachusetts university had previously eliminated loans, opting to provide all assistance in the form of “grants,” and in 2007 likewise ended home equity in determining a family’s ability to pay for college.
Meanwhile, about 55% of Harvard undergraduates currently receive financial aid with families that paid an average of $15,700 for the 2023-2024 year.
Harvard had previously offered to cover the expenses for students whos families had annual incomes of $40,000 or less. This threshold, however, has increased four times since — from $60,000 in 2006 to $85,000 in 2023.
According to officials, Harvard College’s annual financial aid award budget is $275 million for the academic year 2025-26.
“We know the most talented students come from different socioeconomic backgrounds and experiences, from every state and around the globe,” said William R. Fitzsimmons, Harvard College’s dean of admissions and financial aid.
The globally-known Harvard — which has produced a long list of U.S. presidents, celebrities and other world and tech leaders — has awarded more than $3.6 billion in undergraduate financial aid since launching its Harvard Financial Aid Initiative in 2004.
Fitzsimmons stated Harvard’s 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.”
It arrived as Garber revealed days ago that the university would undergo a hiring freeze due to “substantial financial uncertainties driven by rapidly shifting federal policies,” he wrote.
