Yale University followed up on Harvard's initiative last year and announced that it would waive tuition for undergraduate students whose family income is less than $200,000 per year. The school said in a statement Tuesday that the enhanced financial aid policy will ensure that students from such families "receive need-based scholarships that are sufficient to cover or exceed the cost of tuition." Under the new policy, which will take effect from the 2026-2027 school year, all expected fees will be waived for students from families with modest assets and incomes of less than $100,000.
Harvard University, the oldest and richest institution of higher learning in the United States, announced last year that tuition and room and board fees would be waived for students whose family income is US$100,000 or less, while those whose family income does not exceed US$200,000 will be exempted from tuition.
Tuition is typically the largest component of the cost of attending college. In addition, their families have to pay for food and accommodation as well as other expenses such as transportation and laundry.
"Under this new policy for families with an annual income of less than $200,000, more than 80% of American residents will be eligible to apply for Yale scholarships that can at least cover the cost of tuition," said the prestigious school in New Haven, Connecticut.