Ivy League School announced Monday, March 17 that Harvard University is offering free tuition fees to all students from families earning $200,000 or less each year.
According to ABC News, this means that about 86% of American families are eligible for free riding at one of the world’s most elite universities.
“Inclusion of Harvard University in finance can expand a range of backgrounds, experiences and perspectives that all our students encounter and promote their knowledge and personal growth,” Harvard President Alan M. Garber said in a statement. “By bringing people with outstanding commitment to learn from each other, we truly realize the great potential of the university.”
According to Garber, the new program will qualify about 86% of U.S. families to receive financial aid from Harvard University and expand the Ivy League Academy’s commitment to provide all undergraduates with the resources they need to enroll and graduate.
The university says undergraduates from families with annual incomes or below will not only have tuition fees, but also housing, food, health care services and other student services.
According to the school, students from families with a family income of $200,000 or less will be able to attend Harvard tuition for free.
According to Harvard’s website, the average annual tuition fee for undergraduates is $56,550. But as housing, food, health services and other student services increase, Harvard’s annual cost is $82,866.
Harvard has about 24,600 undergraduate students each year. In 2024, Cambridge, Massachusetts, the school accepted 3.59% of the 54,000 applicants in the 2028 class.
The university says about 55% of Harvard University receives some type of financial aid. School officials said that during the 2023-2024 school year, students who received financial aid paid an average of $15,700 in education.
“We know that the most talented students come from different socio-economic backgrounds and experiences from all states and around the world,” William R. Fitzsimmons, Dean of Admissions and Financial Aid at Harvard University, said in a statement. “Our financial aid is crucial to ensure that these students know that Harvard is part of a vibrant learning community that can be strengthened through their presence and engagement.”
Undergraduate students from families with incomes of $85,000 or less for free tuition, housing, health services and other student services, according to the university.
According to the university’s annual income threshold, the annual income threshold for free education at Harvard has increased from $40,000 in 2004 to $60,000 in 2006, to $85,000 since 2023, according to the university’s annual income threshold.
Harvard has been reducing annual tuition fees for undergraduate students for years. In 2007, the school canceled the loan and helped in the form of a grant. It also eliminates the home net worth when determining the ability of a family to pay for college.
According to the university, Harvard University has awarded more than $3.6 billion in undergraduate financial aid since launching the Harvard Financial Aid Program in 2004.
“Our team works closely with every student to ensure it is fully incorporated into the Harvard experience,” said Jake Kaufman, director of financial aid at Harvard University.
“The Financial Aid Program is designed to enable Harvard students to learn, train, research, create and fully participate in the Harvard experience with minimal restrictions.”
