Douglas Olsen
Harvard University is known for its exorbitant cost of attendance, which exceeds $80,000 per year. However, the university offers a generous financial aid program to ensure that admitted students from diverse economic backgrounds can afford a Harvard education. According to Harvard, 24% of students pay nothing to attend, and more than half receive need-based scholarships. The university's financial aid officers work closely with students and their families to assess their financial need and create comprehensive financial aid packages. While Harvard strives to make its education accessible to all admitted students, regardless of their ability to pay, there are concerns about the college's support for low-income students and the potential impact of family wealth on admission prospects.
| Characteristics | Values |
|---|---|
| Percentage of students who pay nothing to attend Harvard | 24% |
| Percentage of students who receive need-based scholarships | More than half |
| Average need-based scholarship or grant awarded to first-year students | $70,525 |
| Percentage of first-year students who received need-based financial aid in fall 2022 | 57% |
| Average need-based self-help aid awarded to first-year students | $3,125 |
| Average cost of attendance at Harvard for families with annual incomes less than $65,000 | $12,000 per year |
| Percentage of students in the Harvard class of 2024 who do not receive financial aid | 40% |
| Percentage of Harvard students whose families have incomes greater than $250,000 | 30% |
| Percentage of students who receive federal Pell Grants | 19% |
| Average amount paid by students who receive federal financial aid | $19,500 per year |
| Net price of Harvard University after aid and scholarship funds are discounted | $14,634 |
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What You'll Learn
Harvard's financial aid program
Harvard University has a long tradition of providing access to education through its financial aid program. The program is designed to ensure that students can have the full Harvard experience with minimal financial constraints. Harvard is committed to making its education accessible to the most promising students, regardless of their financial circumstances.
Harvard's financial aid is available to students from all income levels, including those with family incomes above $200,000, depending on their individual circumstances. The university's dedicated financial aid officers work personally with students and their families to ensure that Harvard is affordable for them. In the 2023-2024 school year, the average financial aid package for students receiving Harvard scholarships included the expectation that students would work 10 to 12 hours per week. Additionally, Harvard offers need-based scholarships and merit-based aid, also known as non-need-based aid, awarded for specific talents or academic achievements.
Harvard has recently expanded its financial aid program, beginning in the 2025-2026 academic year. This expansion will make Harvard free for students from families with incomes of $100,000 or less and tuition-free for students from families with incomes of $200,000 or less. This change will enable approximately 86% of U.S. families to qualify for Harvard College's financial aid, fostering a diverse community of students from various socioeconomic backgrounds.
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Harvard's affordability
Harvard University is committed to making its education accessible and affordable for everyone who gets in, regardless of their family's ability to pay. The university has a generous financial aid program to ensure that admitted students can afford their Harvard education.
Harvard's financial aid program is need-based, considering factors such as family income, assets, size, and unusual expenses. The university works closely with each family to understand their financial situation and create a comprehensive financial aid package that accounts for the full cost of attendance, including tuition, fees, food, housing, and other costs. Harvard meets 100% of its students' demonstrated financial need, and for families with annual incomes below $100,000, the expected parent contribution is zero.
According to Harvard's website, twenty-four percent of students pay nothing to attend, and more than half receive need-based scholarships. The average need-based scholarship or grant awarded to first-year students is $70,525. Additionally, 57% of first-year students received need-based financial aid in the fall of 2022. Harvard also offers millions of dollars in student funding for public service, research, international travel, and career opportunities.
Despite Harvard's commitment to affordability, there are concerns about the accessibility of its education for low-income students. Harvard's admissions data suggests that it can be challenging for low-income students to gain admission, as competitive colleges look for applicants with academic excellence and extracurricular involvement. Additionally, there have been criticisms of Harvard's decentralized aid systems, which some believe perpetuate inequality on campus.
In conclusion, while Harvard University strives to make its education affordable for all admitted students through its need-based financial aid program, there are ongoing discussions about the accessibility of its education for low-income students, both in terms of admission and financial support.
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Students from low-income families
Harvard University is committed to making its education accessible and affordable for everyone who gets in, regardless of their family's ability to pay. The university has a need-blind admissions policy, meaning a student's ability to pay tuition bears no weight on their admission prospects. Harvard's financial aid program provides need-based aid, allowing the university to bring the best students to Harvard.
Harvard's financial aid officers work closely with students and their families to understand their financial situation and create a comprehensive financial aid package that accounts for the full cost of attendance. The financial aid package may include scholarship funds and student employment, as well as any scholarships earned from outside sources. Harvard also offers millions of dollars in student funding for public service, research and learning, international travel, and career opportunities.
For families with annual incomes below $100,000, the expected parent contribution is zero. Families with incomes up to $200,000 can also receive financial aid, which will cover at least the full cost of tuition. Financial aid is also available for students from families with incomes above $200,000, depending on their individual circumstances. However, families with significant assets will be asked to pay more. Harvard's financial aid program ensures that students from low-income families have the opportunity to attend the university without financial barriers.
While Harvard's financial aid program aims to support low-income students, there have been concerns about the university's failure to support its low-income students during the pandemic. Additionally, the admissions process at elite schools like Harvard can be challenging for students from low-income families, as they may not have the competitive edge needed for consideration. Factors such as academic excellence and extracurricular involvement are considered in the admissions process, which can favour students from higher-income backgrounds.
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Harvard's admissions process
Harvard University is committed to making its education accessible to students from all socioeconomic backgrounds. The university has a need-based financial aid program to ensure that students can afford a Harvard education. Twenty-four per cent of students at Harvard pay nothing, and more than half receive need-based scholarships.
Harvard's admissions office actively seeks out candidates across the country, often travelling to various cities to give presentations about the admissions process and advertise the university. The college specifically targets low-income and minority students, as well as students from less populous areas of America. Harvard also seeks students skilled enough to play varsity sports at the university, and recruited athletes have a significant advantage in the admissions process.
The application process involves submitting an online application, which includes test scores, transcripts, and personal essays. Applicants are also encouraged to sign up for an interview with a Harvard alumnus, which can help evaluate their suitability for the university. Harvard also offers application fee waivers for students who meet the indicators of economic need.
Once a student is admitted, the Financial Aid Committee assesses the family's financial need and offers a comprehensive financial aid package to ensure that the student can afford the cost of attendance. Harvard's financial aid program covers the full cost of tuition and additional costs such as fees, food, housing, and other expenses based on individual financial circumstances.
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Harvard's scholarships
Harvard University is committed to making its education accessible to the best students, regardless of their financial background. The university offers a range of scholarships and financial aid packages to support students from diverse economic backgrounds. In fact, 24% of students at Harvard pay nothing to attend, and more than half receive need-based scholarships.
Types of Scholarships and Financial Aid
Harvard University offers various types of scholarships and financial aid to its students. These include:
- Need-based scholarships: These scholarships are awarded based on a student's financial need. The average need-based scholarship awarded to first-year students at Harvard is $70,525. Need-based self-help aid may also include federal loans and work-study opportunities, with an average award of $3,125.
- Merit-based scholarships: Also known as non-need-based aid, these scholarships are awarded for specific talents or academic achievements. The average non-need-based scholarship awarded to first-year students is $6,000, excluding any athletic scholarships.
- Outside scholarships: Students may receive scholarship funds from sources outside Harvard, such as secondary schools, civic organizations, parental employers, corporations, and the National Merit Scholarship Programs. These outside awards are incorporated into the student's financial aid package.
- Special Student Scholarships: Bachelor of Liberal Arts candidates admitted as Special Students to Harvard's Faculty of Arts and Sciences (FAS) may apply for this scholarship, which covers tuition for one undergraduate course in a term.
- The Leonard J. Russell Scholarship: This scholarship is offered to up to three City of Cambridge employees each term, covering tuition for one Graduate Program in Management course.
- The Kwan Fong Scholarship: Awarded each fall and spring term to one ALM candidate in the management or finance program, covering tuition for one course.
- Rhode Island State Scholarship: This scholarship is available to students residing in Rhode Island or Massachusetts, with potential funding available for students from other states as well.
- Lowell Scholarships: These scholarships enable middle school and high school teachers to take one Extension School course per term (fall and spring) at half the regular tuition rate.
Financial Aid Packages
Harvard's financial aid packages are designed to cover 100% of the demonstrated financial need of its students. The packages may include a combination of scholarship funds, student employment, and any outside awards. The university works individually with each student and their family to assess their financial situation and create a comprehensive financial aid package. Harvard also offers additional funding for public service, research, international travel, and career opportunities.
Application Process
Prospective students can apply for financial aid by completing the financial aid application by the specified deadline. The application instructions are the same for all students, regardless of country of residence or citizenship status. Once a student is admitted, the Financial Aid Committee will assess the family's financial need and offer an award to meet their needs. For current students, information about financial aid can be accessed through the My.Harvard student portal.
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Frequently asked questions
According to Harvard, 24% of students pay nothing to attend. However, according to Harvard's Opportunity Insights, students from the bottom 20% of earners made up just 4.5% of Harvard's class of 2013.
Harvard's financial aid is completely need-based and considers many factors, such as family income, assets, size, and unusual expenses. Harvard works with each family one-on-one to determine their demonstrated need and expected contribution.
Financial aid at Harvard covers the full cost of tuition, as well as additional costs such as fees, food, and housing, and travel. Harvard also offers funding for public service, research, international travel, and career opportunities.
Harvard's admissions process is "need-blind", meaning a student's ability to pay tuition does not impact their admission. Harvard is committed to making a Harvard education possible for students regardless of their family's ability to pay.
