Harvard Goes Tuition-Free for Families Earning $200,000 or Less

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Harvard University has announced a groundbreaking expansion of its financial aid program, making tuition free for undergraduate students from families earning $200,000 or less, starting next fall.

Parkchester Times gathered that the initiative aims to broaden access to Ivy League education for middle-income families.

For students from families earning $100,000 or less, Harvard will not only cover tuition but also housing, health insurance, and travel expenses.

“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 M. Garber said in a statement.

The move builds on the Harvard Financial Aid Initiative, launched in 2004 to support students from diverse economic backgrounds. Previously, families earning under $85,000 were eligible for full financial aid.

Harvard follows similar announcements by other prestigious institutions. In November, MIT and the University of Pennsylvania pledged to cover tuition for students from families earning under $200,000, while the University of Texas system committed to free tuition for families making below $100,000.

With an endowment of $53.2 billion, Harvard remains financially well-positioned to support these expanded aid measures. Currently, 55% of its undergraduates receive financial aid, with an average family contribution of $15,700 in the 2023-2024 academic year.

The rising cost of college education has been a major concern in the U.S., with tuition and fees at private universities averaging $43,000 annually. Harvard’s latest move could set a new standard for elite institutions seeking to make higher education more accessible.