- Harvard University is making it easier for students to attend. The school is eliminating tuition charges for students whose families make under $200,000. And students whose families earn less than $100,000 will get a free ride at the school/
One of the biggest barriers for getting into Harvard University for students who make the cut is falling by the wayside.
The prestigious school announced plans Monday to make tuition free for any student whose family makes $200,000 or less per year. The changes will go into effect at the beginning of the 2025-2026 school year.
Students whose families make $100,000 or less not pay anything to attend, including for food, housing, health insurance and travel costs.
“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 University President Alan M. Garber 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 university says the new plan will let 86% of U.S. families qualify for financial aid at the Ivy League school.
That will come in handy for most students. Harvard’s tuition averages $56,650 per year for undergrads, according to the school’s website. When housing, meal plans and other services are added, that brings the bill to $82,866.
It’s the continuation of Harvard’s effort to be more affordable for students who meet its strict admission requirements. In 2007, the school eliminated loans, instead providing all financial assistance in the form of grants. It also stopped considering home equity when determining a family’s ability to pay for undergraduate studies.
Currently, 55% of undergraduates receive financial aid from the school, Harvard said. The families of those students paid an average of $15,700 for the 2023-24 year.
