In a historic move to broaden access to higher education, Harvard University has announced a significant expansion of its financial aid program. Beginning in the 2025-26 academic year, Harvard College will be entirely free for students from families earning $100,000 or less annually. Additionally, tuition will be fully covered for students from families with incomes up to $200,000, reaffirming the university’s long-standing commitment to financial accessibility.

Harvard University President Alan M Garber and Edgerley Family Dean of the Faculty of Arts and Sciences Hopi Hoekstra emphasized the importance of this initiative in making Harvard more accessible to talented students from diverse socioeconomic backgrounds.

“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 President Garber. “By bringing people of outstanding promise together to learn with and from one another, we truly realize the tremendous potential of the University.”

Dean Hoekstra echoed this sentiment, stating, “Harvard has long sought to open our doors to the most talented students, no matter their financial circumstances. 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.”

The financial aid expansion includes three key tiers:

Families earning $100,000 or less annually: All billed expenses, including tuition, fees, food, housing, and more, will be fully covered. Additional support includes a $2,000 start-up grant for first-year students, assistance with health insurance (if needed), travel costs, winter gear, event fees, and a $2,000 launch grant during junior year to support post-graduation planning.
Families earning up to $200,000 annually: Full tuition coverage plus additional financial aid based on individual circumstances. This could include support for fees, food, and housing.
Families earning more than $200,000 annually: Tailored financial aid will be available depending on individual financial situations. Harvard’s financial aid staff will work closely with families to ensure their unique needs are met.

Notably, Harvard does not factor home equity or retirement savings into financial aid calculations, ensuring a fair assessment of each family’s financial situation.

This initiative builds upon Harvard’s long history of making education accessible. Since launching the Harvard Financial Aid Initiative in 2004, the university has progressively increased income thresholds for full aid coverage. Originally, families earning up to $40,000 received full support, a figure that has since been increased multiple times to reflect economic changes. Harvard also eliminated loans from financial aid packages in 2007, providing only grants and term-time work opportunities instead.

Currently, 55% of Harvard College undergraduates receive financial aid, with the average family contribution for the 2023-24 academic year being $15,700. To date, Harvard has awarded over $3.6 billion in undergraduate financial aid, with the 2025 annual financial aid budget reaching $275 million.

William R Fitzsimmons, Dean of Admissions and Financial Aid, highlighted the impact of these changes on students and families across the country. “We know the most talented students come from different socioeconomic backgrounds and experiences, from every state and around the globe. 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.”

This expanded financial aid program is expected to benefit approximately 86% of U.S. families, dramatically increasing access to a Harvard education for students from middle-income backgrounds who have historically struggled with tuition costs.

With this bold initiative, Harvard College continues to pave the way in making world-class education more accessible, ensuring that financial barriers do not stand in the way of academic excellence and opportunity.