CAMBRIDGE, Mass. — Attending the nation’s oldest Ivy League university just became a lot cheaper for several students.
Harvard University, a private university founded in 1636, announced Monday that tuition, room and board 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.
“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,” Harvard President Alan Garber said in a statement. “By bringing people of outstanding promise together to learn with and from one another, we truly realize the tremendous potential of the University.”
The move comes as tuition, room and board at several private colleges and universities in New England now cost more than $90,000 to attend, with several local schools approaching that $90,000-mark in an unprecedented time of soaring costs in higher education.
Harvard follows other private universities, including MIT in Cambridge, that are now offering free tuition to families based on income.
In November, MIT announced that undergraduates with family income below $200,000 can expect to attend MIT tuition-free starting this fall. And students from families with income below $100,000 can expect to pay nothing at all toward the full cost of their students’ MIT education, which includes tuition as well as housing, dining, fees, and an allowance for books and personal expenses.
Saint Anselm College, a private Benedictine liberal arts college in New Hampshire, announced a new program in September that allows New Hampshire students with a family income of $100,000 or less and a GPA of 3.25 or higher to attend the college tuition-free.
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, and housing, officials said.
Students from families with incomes of $200,000 and below will receive free tuition with additional aid. Many students from families with incomes of more than $200,000 will also qualify for financial aid, officials said.
The expanded program announced Monday 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,” officials said.
“Harvard has long sought to open our doors to the most talented students, no matter their financial circumstances,” Faculty of Arts and Sciences Dean Hoekstra said in a statement. “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.”
Harvard officials said 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, officials said. 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. Officials said 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,” officials said. “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,” William Fitzsimmons, Harvard College’s Dean of Admissions and Financial Aid, said in a statement. “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.”
Monday’s announcement expands Harvard’s financial aid for undergraduate students. In 2004, the university launched 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, officials said.
Currently, just over half of Harvard College undergraduates -- 55 percent -- receive financial aid, and they and their families paid an average of $15,700 for the 2023-2024 academic year, officials said.
Harvard has awarded more than $3.6 billion in undergraduate financial aid since launching the Harvard Financial Aid Initiative in 2004. University officials said Harvard College’s annual financial aid award budget is $275 million in 2025.
This is a developing story. Check back for updates as more information becomes available.
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