By Neal Riley
March 17, 2025 / 11:55 AM EDT / CBS Boston
Harvard University announced a “significant expansion of financial aid” on Monday to make tuition free for more students, even as the Ivy League institution said recently it is facing revenue concerns under the Trump administration.
The college in Cambridge, Massachusetts said students from families with annual incomes of $200,000 or less will no longer have to pay tuition. Those making less than $100,000 a year will have all other expenses covered as well, such as food, housing, health insurance and travel costs.
Previously, Harvard covered all expenses for families with incomes below $85,000. The new financial aid policy will start in the 2025-2026 academic year.
“Putting Harvard within financial reach”
“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,” Harvard president Alan Garber said in a statement.
Harvard said families making more than $200,000 can also get financial aid, “depending on their circumstances.”
Harvard’s new financial aid policy mirrors the one MIT announced last fall. The school says the changes will allow about 86% of families in the U.S. to qualify for financial aid.
Currently, Harvard tuition is more than $56,000. The cost of housing, food and other fees brings the total to nearly $83,000 per year.
Harvard hiring freeze
Earlier this month, Harvard said it would freeze hiring amid “rapidly shifting federal policies.” Garber said the school and others across the country “face substantial financial uncertainties” under the Trump administration. President Trump has threatened to pull funding from colleges that allow what he called “illegal protests.”
Harvard said in 2024 it received $686 million in federal funding, which is the university’s largest source of support for research.
Neal RileyNeal J. Riley is a digital producer for CBS Boston. He has been with WBZ-TV since 2014. His work has appeared in The Boston Globe and The San Francisco Chronicle. Neal is a graduate of Boston University.
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