Families Under $200K Now Get Free Tuition at Harvard

If your kids have dreams of going to Harvard University, it has now become much less expensive to attend.

College is expensive. Between tuition, housing, books, supplies, food, all of that money adds up. Unless you have a full-ride scholarship, there's a good chance that you will be paying your student loans for quite a long time. That's why I try to instill good grades in school in my kids. My oldest is sixteen and every now and then talks about wanting to go to Harvard University. Not realizing how prestigious and expensive the school is. Well, it appears that Harvard has decided to do something for qualifying families that will eliminate the burden of paying for tuition.

Free Tuition at Harvard University?

Earlier today, I stumbled upon an article that said Harvard University will be offering free tuition to families who earn less than $200 per year, and even more incentives if your family makes $100,000 or less. Knowing that my daughter has had dreams of attending Harvard, I wanted to learn more about this new initiative. So, here's what we know.

According to the Associated Press, Harvard University announced Monday that students whose families make up to $200,000 won’t pay tuition. It sounds too good to be true, but it is indeed a reality. The Associated Press goes on to say that this plan will go into effect for the 2025-2026 academic year and "is aimed at making Harvard more affordable, especially for middle-income students."

Harvard University is primarily located in Cambridge, Massachusetts, with additional campuses in the Allston and Longwood neighborhoods of Boston. President of Harvard University, Alan M. Garber made the following statement in the Harvard Gazette:

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

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How Does This Work?

Tuition in the current school year at Harvard is $56,500, but it rises to $82,866 if you include food, housing, and other expenses. However, families who make $200,000 or less in annual income will receive free tuition and additional financial aid to cover other expenses, depending on financial circumstances.

Harvard also says that attending the university will be free for students whose family income is $100,000 and below.

This covers all billed expenses including tuition, food, housing, health insurance, and travel costs. Additionally, each of these students will receive a $2,000 start-up grant in their first year and a $2,000 launch grant during their junior year to help support the transition beyond Harvard.

 

This is incredible news. I'm sure there are many who make the grades to get into this prestigious school, but financially, there's no way they could attend. That's all about to change. I know that as soon as my daughter sees this, she will have even more motivation to pursue her dream of going to Harvard.