As the White House and lawmakers rail against elite universities, Harvard University announced it will waive tuition for students whose family income is $200,000 or less. As the oldest and richest institution of higher learning in the United States, Harvard University waives tuition and room and board fees for students whose family income is US$100,000 or less, while students from families whose income does not exceed US$200,000 are free of tuition.
The University of Pennsylvania and the Massachusetts Institute of Technology have recently announced similar decisions. At a time when tuition at many top schools has exceeded $90,000 per year, these plans will make it possible for more families to afford prestigious schools.
Alan Garber, President of Harvard University, said, “Giving more people the opportunity to study at Harvard broadens the backgrounds, experiences, and perspectives of all our students and promotes their intellectual and personal growth.”
According to the statement, the new program will launch in the 2025-26 academic year and will help approximately 86% of families in the United States qualify for financial aid from Harvard University. Currently, families whose annual income does not exceed US$85,000 can enjoy the tuition-free policy.
The Trump administration is threatening to cut off federal funding to top schools such as Harvard over their failure to address anti-Semitism and support diversity, equity and inclusion (DEI).
Net tuition for undergraduates at Harvard is approximately $57,000 per year, and more than half of students receive financial aid.
At a time when millions of Americans are struggling to pay off their student loans, more and more families are questioning whether it's worth paying big bucks to attend a prestigious school. While elite universities continue to receive applications from high-achieving students, they are increasingly focusing on affordability.