The university plans to cover all costs for students from families earning under $100,000, and pay tuition fees for those with incomes under $200,000.
Harvard is significantly expanding financial aid, providing full coverage for students from families earning less than $100,000 a year.
The move will allow students from about 86% of US households to qualify for financial aid from the Ivy League school starting from the 2025-26 academic year.
« By bringing people of outstanding promise together to learn with and from one another, we truly realize the tremendous potential of the University », Harvard president Alan Garber said in a statement on Monday.
Under the new policy, students from families earning $100,000 or less will have all billed expenses covered, including tuition, housing, meals, health insurance, and travel. They will also receive a $2,000 startup grant in their first year and a $2,000 launch grant in their junior year.
