Harvard now offers free tuition and fully covers expenses, like housing and health insurance, for students whose families earn less than $100,000

In a move that reshapes long-held assumptions about affordability and access in higher education, Harvard University has announced that, beginning in the 2025–26 academic year, it will offer free tuition and fully cover all essential expenses for undergraduates from families earning $100,000 or less annually. This expansion, which also includes substantial aid for families earning up to $200,000, marks one of the most comprehensive financial aid reforms in the university’s history. It extends far beyond tuition, encompassing room, board, health insurance, travel, and even transitional support grants—all without requiring students to take on debt.

For many, the price tag associated with elite universities like Harvard has long made them seem out of reach. But this latest policy shift challenges that narrative, reaffirming a commitment to need-based aid that has been growing steadily over the past two decades. It reflects not only an institutional belief in equity, but a recognition of the changing financial realities facing American families today—from the working class to the middle-income households often left out of traditional aid models.

A Landmark Expansion in Access to Elite Education

Harvard University’s newly expanded financial aid policy represents one of the most significant shifts in access to elite education in recent decades. Beginning in the 2025–26 academic year, Harvard will cover all major expenses—including tuition, housing, food, health insurance, and travel—for undergraduates from families earning $100,000 or less annually. For students from families earning up to $200,000, tuition will be fully waived, with additional financial aid provided based on specific financial circumstances. This move makes Harvard not only tuition-free for a broader range of families but also cost-neutral for many middle-income students who previously faced significant financial strain.

The new policy is designed not just to admit talented students from across the socioeconomic spectrum, but to ensure they can fully participate in college life without the hidden burdens that often accompany low-income status. In addition to the comprehensive aid package, students qualifying for full support will receive a $2,000 “start-up grant” in their first year and a $2,000 “launch grant” in their junior year, helping with costs related to settling into college and preparing for life after graduation. These funds recognize that access is about more than tuition—it’s about making sure students can thrive both academically and socially, with the resources needed to fully engage in the Harvard experience.

This financial expansion builds on two decades of policy evolution, beginning with the Harvard Financial Aid Initiative in 2004, which initially offered full aid to students from families earning less than $40,000. That income cap has gradually increased over the years—from $60,000 in 2006 to $85,000 in 2023—culminating in this latest, most generous threshold. The University has awarded over $3.6 billion in undergraduate aid since launching the initiative, with a projected financial aid budget of $275 million for the 2025–26 academic year. In 2007, Harvard also eliminated loans from its aid packages, replacing them entirely with grants, and removed home equity from financial aid calculations—steps that further reduced barriers for working- and middle-class families.

Harvard administrators emphasize that this expansion is not only about affordability, but about ensuring intellectual richness and diversity in its student body. “Putting Harvard within financial reach for more individuals widens the array of backgrounds, experiences, and perspectives that all of our students encounter,” said Harvard President Alan M. Garber. As Dean of Admissions and Financial Aid William Fitzsimmons added, “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.” With more than 86 percent of U.S. families now qualifying for some form of aid, the message is clear: talent, not income, should determine who gets to access the nation’s most prestigious educational institutions.

Redefining Affordability and Middle-Class Inclusion

One of the most striking elements of Harvard’s new financial aid expansion is its deliberate focus on middle-income families—an often-overlooked demographic in national conversations about college affordability. While low-income students have increasingly been the focus of aid programs, many middle-class families—those earning between $100,000 and $200,000 annually—have found themselves in a financial grey area: too “wealthy” to qualify for substantial aid, yet unable to comfortably shoulder the full cost of attendance at elite universities, which can exceed $85,000 per year. Harvard’s new policy directly addresses this gap by providing free tuition and need-based support to many in this bracket, offering relief to families who may otherwise be forced to make difficult choices between financial stability and educational opportunity.

This is a notable shift in how elite institutions define financial need. In the past, the term was often associated solely with low-income households, but the rising cost of living and ballooning college expenses have redefined what financial hardship looks like. According to data from the National Center for Education Statistics, college tuition and fees at private institutions have increased by more than 130% over the last three decades, far outpacing median household income growth. As a result, even families earning six figures can struggle to cover the full cost of a college education without taking on debt. Harvard’s policy recognizes this reality and offers a broader, more inclusive framework for financial aid eligibility—one that better reflects the economic pressures facing modern families.

This inclusive approach also carries important implications for socioeconomic diversity in higher education. By extending aid to students from a wider range of backgrounds, Harvard enhances the mix of perspectives, life experiences, and ideas that fuel its academic environment. Research has consistently shown that students learn more effectively in diverse settings, where they are exposed to different viewpoints and challenged to rethink assumptions. The university’s financial aid officers work closely with each applicant’s family to tailor support to their unique circumstances—an approach that not only increases access but affirms the institution’s commitment to equity and individualized support.

What the New Aid Covers—and How It Works

Harvard’s updated financial aid framework is designed to eliminate nearly all out-of-pocket costs for students from lower- and middle-income families. For students whose families earn $100,000 or less annually, the aid package is comprehensive: it covers all billed expenses including tuition, room, board, food, student health insurance, and travel costs. This full coverage is not partial or estimated—it is guaranteed and built into Harvard’s financial aid model starting with the 2025–26 academic year. Additionally, these students receive a one-time $2,000 start-up grant in their first year to help cover moving costs or initial academic supplies, and another $2,000 launch grant during their junior year to support their transition out of college, whether into the workforce or graduate study.

Students from families earning between $100,000 and $200,000 will receive full tuition coverage, with further aid provided based on their family’s financial profile. Many of these families will also receive support for room, board, and other expenses, determined through a personalized financial aid process that considers not just income, but also family size, number of children in college, and other financial obligations. Harvard’s financial aid officers work directly with each student’s family to ensure that the aid award reflects their specific situation, avoiding a one-size-fits-all approach and helping students avoid debt entirely.

The structure of this aid program is entirely grant-based, meaning students are not expected to take out loans to attend. Aid comes in the form of institutional grants that do not need to be repaid, a model Harvard has used since 2007 when it removed loans from its aid packages altogether. This grant-only approach has helped ensure that students can focus on their studies and participate fully in campus life without the pressure of long-term financial burden. According to the university, 55% of current undergraduates already receive some form of aid, and under the new system, even more students will qualify—potentially reducing the average family contribution well below the current average of $15,700.

Harvard also no longer factors home equity into its financial aid calculations—a policy that reduces assessed family wealth in a way that benefits homeowners who may have valuable property but limited liquid assets. This change reflects an understanding of how wealth and income can differ significantly, and how traditional financial aid formulas have historically underestimated the financial stress of middle-income families. With these combined measures, Harvard is aiming to offer not just access, but an educational experience free from the hidden financial stressors that can underm

A Reaffirmation of Harvard’s Longstanding Commitment to Financial Equity

Harvard’s 2025–26 aid expansion is not a sudden departure but rather a continuation of a decades-long progression toward greater financial inclusion. The effort began in earnest in 2004 with the launch of the Harvard Financial Aid Initiative, which initially offered full support—including tuition, housing, and meals—for students from families earning less than $40,000 a year. That threshold was raised over time, reaching $60,000 in 2006, $85,000 in 2023, and now $100,000 under the newly announced policy. Each increase has reflected Harvard’s recognition of the changing economic landscape and its commitment to ensuring that financial barriers do not prevent talented students from attending.

Another major milestone came in 2007, when Harvard eliminated the use of loans in its financial aid packages altogether. Instead of expecting students to borrow, the university transitioned fully to a grant-based system—meaning any financial support provided by the school does not need to be repaid. This shift has helped thousands of students graduate without debt, allowing them to pursue opportunities after college without the constraints of loan repayment. Over the past two decades, Harvard has awarded more than $3.6 billion in undergraduate aid, funded largely through its endowment and sustained alumni support.

This consistent investment in access has not only benefited students from low-income backgrounds but also made room for those from working-class and middle-income households who often fall through the cracks of traditional aid models. At present, more than half of Harvard undergraduates receive financial aid. For the 2025–26 academic year, the university has allocated $275 million to undergraduate aid alone—an amount that reflects both the scale of the commitment and the breadth of families it seeks to support. In recent years, Harvard has also revised how it calculates family contributions by removing home equity from its assessment formulas, a move that has particularly benefited families whose wealth is tied up in real estate rather than income.

Behind these changes is a guiding principle: academic potential should not be hindered by financial circumstance. Harvard administrators have repeatedly emphasized that the goal is not just to admit talented students but to ensure they can succeed once on campus. As Jake Kaufmann, Griffin Director of Financial Aid, stated, “Our team works closely with each student to ensure full inclusion in the Harvard experience.” This holistic view of access—one that encompasses affordability, support, and opportunity—has been central to the university’s financial aid philosophy for over twenty years and remains the foundation of its expanded efforts moving forward.

A Call to Make Opportunity Tangible for All Students

At its core, Harvard’s expanded financial aid policy is a concrete statement about who deserves access to a world-class education: anyone with the talent and drive to pursue it, regardless of their financial means. By removing the cost barrier for the majority of American families and eliminating the need for loans, the university is not just opening its gates—it is actively inviting a broader range of students to envision themselves within them. This matters deeply, not just symbolically, but in terms of real outcomes. When students are freed from the weight of financial insecurity, they are more likely to thrive academically, engage fully in campus life, and graduate without the constraints that often accompany debt.

Yet access isn’t simply about what students pay—it’s also about what they feel entitled to pursue. By offering start-up and launch grants, covering travel and health costs, and working directly with families to tailor aid, Harvard is signaling that belonging goes beyond admission. It is about ensuring that every student can participate equally, whether in coursework, extracurriculars, internships, or career planning. These resources not only help students succeed within Harvard, but also empower them to take their place in the world with confidence and agency.

For prospective students and families, the takeaway is clear: financial circumstances should no longer be a reason to rule out an application to Harvard. For high school counselors, educators, and community leaders, the responsibility is to ensure this message reaches those who need it most. And for other institutions, this moment offers a model—not for replication, necessarily, but for reflection. What does it truly mean to make education accessible? How far are we willing to go to remove not just financial obstacles, but the psychological and cultural ones as well?

This policy shift is not just about Harvard—it’s about reframing the conversation around merit, opportunity, and support. It challenges the assumption that elite education must come with elite privilege and affirms a more inclusive vision: one where excellence is defined not by how much a family can pay, but by what a student can contribute. In making opportunity tangible, not theoretical, Harvard reminds us that affordability is not just a financial concept—it is a matter of principle.