The Harvard Financial Aid Initiative has extended free tuition to families that make less than $200,000 annually to fulfill its commitment to providing admitted undergraduate students are provided with the resources needed to enroll and graduate. This initiative will go into effect for the 2025-2026 academic year and will cover expenses, like food, housing and health services, for families that make less than $100,000 a year in addition to free tuition.
Additionally, Harvard will be giving $2,000 start-up grants to students in their first year and another $2,000 start-up grant to “help support the transition beyond Harvard” during the junior year of students whose family’s annual income is $100,000 or less.
The Harvard Financial Aid Initiative was established in 2004 to cover tuition, food and housing for students from families that made less than $40,000 and has since awarded more than $3.6 billion in undergraduate financial aid, allowing for 55% of the current student body to receive some form of financial aid.
According to the Griffin Director of Financial Aid Jake Kaufmann, this financing model was created to foster a community where students are free to study, research, create and fully engage within the Harvard community by allowing students to pursue their academic passions without having to worry about tuition costs. The expansion of the financial aid will begin in the 2025-26 academic year. This plan will allow nearly 86% of families in the United States to receive some financial aid, allowing students who come from different socioeconomic backgrounds to diversify their perspectives on campus.
“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.
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