Harvard University announced on March 17, 2025, a significant enhancement to its financial aid program, paving the way for free tuition for students from families earning $200,000 or less annually. This initiative, effective from the 2025-2026 academic year, aims to make elite education accessible to a broader spectrum of aspiring students. According to President Alan M. Garber, the initiative will open doors to approximately 86% of American families, revolutionizing their opportunities to attend one of the world's most prestigious universities.
"Putting Harvard within financial reach for more individuals widens the array of backgrounds, experiences, and perspectives all of our students encounter, fostering their intellectual and personal growth," Garber stated. By diversifying the student body, Harvard seeks to create rich educational experiences where students can learn from one another and leverage their varied backgrounds.
For families making $100,000 or less, the benefits are even more substantial. Beyond tuition coverage, these students will also receive financial support for housing, food, health services, and other necessary expenses. This comprehensive approach aims to alleviate the financial burden on low-income families, making it easier for them to afford the cost of higher education without incurring debt.
The average cost of attending Harvard including tuition, room, board, and fees is about $82,866 annually. While the tuition alone stands at approximately $56,550, the additional costs can be staggering for many families. With this new policy, the financial strain is expected to diminish significantly for those within the specified income brackets. Harris University has consistently been at the forefront of increasing its financial aid offerings over the years, with the threshold for free tuition increasing from $40,000 in 2004 to $60,000, then to $85,000 as recently as 2023.
Harvard enrolls around 24,600 undergraduate students annually. Looking at recent admission statistics, only 3.59% of the 54,000 applicants for the Class of 2028 were accepted. Approximately 55% of Harvard's undergraduate population currently benefits from financial aid packages to assist with educational costs. Prior to this announcement, families earning up to $85,000 qualified for full financial support, including tuition and related expenses.
Education advocates are applauding Harvard’s announcement, seeing it as a solution to contemporary barriers faced by many prospective college students, especially following the Supreme Court's 2023 decision banning racial preferences from admissions processes. Anthony Phillips, Philadelphia City Councilmember and former nonprofit leader focused on educational access, remarked, "It helps to bridge the gap for the haves and have-nots." He also emphasized the pressing need for funding, especially considering potential cuts to financial aid grants from the federal government.
Overall, the decision also reflects larger trends among elite universities to reevaluate their tuition and financial assistance policies. Institutions like the Massachusetts Institute of Technology (MIT) and the University of Pennsylvania have also announced similar initiatives aiming to increase eligibility for free tuition, supporting families making $200,000 or less.
William R. Fitzsimmons, Harvard’s Dean of Admissions and Financial Aid, echoed these sentiments, stating, "Our financial aid is key to ensuring students from diverse socioeconomic backgrounds can thrive within our academic community." He views the new financial plan not only as beneficial for those who will benefit from it directly but also as instrumental for enriching the entire campus community.
The income thresholds for the financial aid eligibility reflect the realities many families face today, especially those classified as middle-income. The $100,000 threshold stands above the median income for American households, which was reported at $80,610 according to the 2023 census. Many advocates are hopeful this move will encourage other elite institutions to follow suit, fostering greater inclusivity and access to quality education.
The specifics of the program are still being worked out, but Harvard has set aside $275 million for its financial aid budget for the 2025 academic year. This financial commitment emphasizes the institution's dedication to making education attainable for students from diverse financial backgrounds. By taking these steps, Harvard not only strengthens its own community but also sets a precedent for how leading educational institutions can reshape their financial assistance systems.
While this new policy is undeniably encouraging, advocates like Sean Vereen, president of Heights Philadelphia, caution against viewing financial aid restructuring as the sole solution. "Anytime leading universities invest to improve admissions for low-income students is commendable," he stated. "But making institutions more affordable doesn’t directly equate to accessibility. A greater push toward supporting community colleges is also needed. Taking these steps will help build stronger pathways for all low-income students ensuring they have every opportunity to succeed, particularly at elite institutions like Harvard."
