Harvard University President Alan M. Garber and Edgerley Family Dean of the Faculty of Arts and Sciences Hopi Hoekstra announced today (March 17, 2025) that Harvard College will be free for students from families with annual incomes of $100,000 or less and tuition-free for students from families with annual incomes of $200,000 or less. This significant financial aid expansion reaffirms the Harvard’s decades-long commitment to enabling more undergraduate students, especially those from middle-income families, to receive the financial support they need to attend.
“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,” said 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.”
Starting in the 2025-26 academic year, Harvard College will be free for students from families with incomes of $100,000 or less—with financial aid covering tuition, fees, food, housing, and more. Students from families with incomes of $200,000 and below will receive free tuition with additional aid. And many students from families with incomes of more than $200,000 will also qualify for financial aid.
The expanded program announced today would enable approximately 86 percent of families in the United States to qualify for Harvard College’s financial aid, extending Harvard’s commitment to provide every admitted undergraduate student the resources they need to enroll and graduate.
“Harvard has long sought to open our doors to the most talented students, no matter their financial circumstances,” said Faculty of Arts and Sciences Dean Hoekstra. “This investment in financial aid aims to make a Harvard College education possible for every admitted student, so they can pursue their academic passions and positively impact our future.”
Starting in the 2025-26 academic year, financial aid will expand in three major areas:
$100,000 annual family income and below: Free
Financial aid will cover all billed expenses, including tuition, fees, food, housing, and more, including a $2,000 start-up grant (first year), health insurance (if needed), travel costs between campus and home, winter gear, event fees, and other activities, and a $2,000 launch grant (junior year) to help students prepare for post-Harvard life.
$200,000 annual family income and below: Free Tuition Plus
Financial aid will cover the full cost of tuition, plus. In addition to tuition, students qualify for financial aid to cover other costs, such as fees, food, and housing, based on their individual financial circumstances.
Family income above $200,000 annually: Tailored Financial Aid
Financial aid will be available to many students from families with incomes above $200,000, depending on individual circumstances. Harvard College’s financial aid staff work personally and individually with students and families to provide financial aid that matches each family’s specific financial situation.
These thresholds assume typical assets. Harvard does not include equity in the family home or retirement assets in calculating financial aid awards.
Harvard College’s undergraduate financial aid packages are based on each individual student’s financial need. Financial aid staff work closely with families to ensure their unique circumstances are considered. One hundred percent of demonstrated financial need is met through grants, which do not need to be repaid, and term-time work. Loans are not included in financial aid packages.
“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. “Our 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.”
This financial aid expansion builds on decades of investment in undergraduate financial aid at Harvard, beginning in 2004 with the launch of the Harvard Financial Aid Initiative that completely covered tuition, fees, food, and housing costs for students from families with annual incomes of $40,000 or less. This threshold was increased four times over the last two decades—from $60,000 in 2006 to $85,000 in 2023. In 2007, Harvard also eliminated student loans from its aid packages, providing all assistance in the form of grants; and, eliminated home equity and retirement in determining a family’s ability to pay for college.
Currently:
- 55% of Harvard College undergraduates receive financial aid, and they and their families paid an average of $15,700 for the 2023-2024 academic year.
- Harvard has awarded more than $3.6 billion in undergraduate financial aid since launching the Harvard Financial Aid Initiative in 2004. Harvard College’s annual financial aid award budget is $275 million in 2025.