Harvard University has announced a major expansion in financial aid, pledging to cover full tuition costs for students from families earning $200,000 or less per year. This initiative, set to launch in the 2025 academic year, aims to alleviate financial burdens for middle-income families and make a Harvard education more attainable.

Under the new policy, students from families earning $100,000 or less will receive full financial coverage, including tuition, housing, meals, and other expenses. Those with family incomes between $100,000 and $200,000 will have their tuition fully covered but may need to contribute toward living costs. For families earning above $200,000, financial aid packages will continue to be customized based on their financial needs.

Harvard’s Commitment to Expanding Opportunity

Harvard President Alan M. Garber emphasized the university’s commitment to accessibility and inclusivity. “By increasing financial aid, we ensure that talented students from all backgrounds can thrive at Harvard,” Garber stated.

Currently, 55% of Harvard undergraduates receive financial aid, with families paying an average of $15,700 per year. The tuition for the 2024-25 academic year is set at $56,550. Since the introduction of the Harvard Financial Aid Initiative in 2004, the university has allocated over $3.6 billion toward student financial support. Looking ahead, Harvard has set aside $275 million for financial aid in the 2025-26 academic year.

Increased Accessibility for More Families

This expansion means that approx imately 86% of U.S. families will now qualify for some level of financial aid at Harvard. Previously, full financial coverage was available only to students from families earning $85,000 or less.

Harvard’s Dean of Admissions, William R. Fitzsimmons, reaffirmed that this initiative is about breaking down financial barriers. “We want every admitted student to feel that Harvard is within reach, regardless of their economic background,” he said.

Despite an extremely competitive admissions process, with an acceptance rate of just 3.59% for the Class of 2028, Harvard hopes this initiative will encourage more students to apply, ensuring that financial constraints do not hinder educational opportunities.