The Harvard University has presented a new financial aid initiative that will make the registration for free for students of families win up to $ 200,000 per year, starting with the 2025–26 academic year.
“Putting Harvard within the financial scope for more people expands the variety of history, experiences and perspectives that all our students find, promoting their intellectual and personal growth,” said Harvard University President Alan M. Garber, in a statement.
“By gathering people from an outstanding promise to learn each other, we really realize the tremendous potential of the university.”
According to the University, the new policy will allow approximately 86% of American families to qualify for financial aid, reflecting Harvard's continuous efforts to guarantee broader access to higher education.
The expanded aid will also cover housing, food services, health services and other student services for university students of families with annual income of $ 100,000 or less.
Students of families winning $ 200,000 or less will benefit from education without registration under the new plan.
The Harvard website currently lists the undergraduate registration at $ 56,550 per year. Including additional expenses such as housing, food and health services, the total annual assistance cost increases to $ 82,866.
The University, which enrolls approximately 24,600 undergraduate students annually, accepted only 3.59% of the 54,000 applicants for the 2028 class. Around 55% of Harvard university students receive some form of financial aid. In the academic year 2023–2024, the families of help receptors paid an average of $ 15,700 for their education.
“We know that the most talented students come from different socioeconomic origins and experiences, from all states and around the world,” William R. Fitzsimmons, dean of admissions and financial aid of Harvard College said in a statement.
“Our financial aid is essential to ensure that these students know that Harvard College is a place where they can be part of a vibrant learning community strengthened by their presence and participation.”
Previously, family students earn $ 85,000 or less qualified for free registration, housing and other services. That threshold had gradually increased over the years, increasing from $ 40,000 in 2004 to $ 60,000 in 2006, and later to $ 85,000 by 2023.
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According to ABC News, since 2004, Harvard has distributed more than $ 3.6 billion in undergraduate financial aid under Harvard financial aid initiative. The university also eliminated loans in 2007, replacing them with subsidies -based help and eliminating domestic capital considerations in their financial evaluations.
“Our team works in close collaboration with each student to guarantee complete inclusion in Harvard's experience,” said Jake Kaufman, Harvard financial aid director.
“The financial aid program is designed so that Harvard students can study, train, investigate, create and participate completely in Harvard's experience with minimal limitations.”
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