Undergraduate Financial Aid Has Increased Steadily Over the Past 20 Years
Other Prestigious Universities Join Harvard in Expanding Financial Support
Harvard University, considered one of the top prestigious universities in the United States, has decided to provide virtually all financial support necessary for school life, including tuition, fees, and dormitory costs, to students from families with an annual income of $100,000 (approximately 140 million KRW) or less. Additionally, students from families with an annual income of $200,000 (290 million KRW) or less will have their tuition waived. On the 17th (local time), foreign media such as The Boston Globe and CNN reported that Harvard will begin offering substantial support, including tuition and fee waivers, to middle-class families starting this fall semester.
Harvard University, considered one of the top prestigious universities in the United States, has decided to provide virtually all financial support necessary for school life, including tuition, fees, and dormitory costs, to students from families with an annual income of $100,000 (approximately 140 million KRW) or less. Harvard Gazette
According to The Harvard Crimson, Harvard’s student newspaper, regarding the school’s support, Harvard President Alan Garber stated, "Allowing more people to study at Harvard without financial difficulties will broaden the range of experiences and perspectives students encounter, promoting intellectual and personal growth," and emphasized, "By bringing together people with outstanding potential to learn from each other, we will realize the tremendous potential of the university."
According to Harvard, students from families with an annual income of $100,000 or less will receive tuition waivers along with an initial support grant of $2,000 in their first year and a $2,000 graduation preparation grant in their third year. Students from families with an annual income of $200,000 or less are also expected to receive additional support depending on their financial situation. Harvard stated, "This effort especially ensures that students from middle-class families can receive support." The Boston Globe particularly welcomed this financial support decision, noting that the upper range of middle-class income in Boston, the capital and largest city of Massachusetts where Harvard is located, is between $150,000 and $200,000 annually.
Regarding international students, Harvard explained, "International students can receive financial support under the same criteria as U.S. students," and added, "Although international students are not eligible for federal government aid, the university provides its own scholarships and on-campus jobs for international students," as stated on the university’s website.
Earlier, Harvard has increased undergraduate financial aid over the past 20 years. In 2004, Harvard launched the Harvard Financial Aid Initiative, providing full coverage of tuition and dormitory fees for students from families with an annual income of $40,000 or less. Getty Images Bank
Previously, Harvard has increased undergraduate financial aid over the past 20 years. In 2004, Harvard launched the Harvard Financial Aid Initiative, providing full coverage of tuition and dormitory fees for students from families with an annual income of $40,000 or less. This threshold has been raised four times and was adjusted to $85,000 in August 2023. To date, Harvard has provided more than $3.6 billion (approximately 5.2 trillion KRW) in undergraduate financial aid.
Meanwhile, not only Harvard but also several prestigious U.S. universities such as the Massachusetts Institute of Technology (MIT) have implemented tuition waiver systems based on annual income. At the end of last year, both MIT and the University of Pennsylvania, a prestigious university in the U.S. East Coast, waived tuition for students from families with an annual income of $200,000 or less. Additionally, Dartmouth College, the University of Virginia, and the University of North Carolina have also decided on similar financial support measures.
There is also analysis that Harvard’s recent move was influenced by the 2023 U.S. Supreme Court ruling declaring the "affirmative action" policy, which considers race in university admissions, unconstitutional. According to statistics released by Harvard, the proportion of Black students among first-year students (1,647) in the fall semester last year was 14%, a 4 percentage point decrease compared to 18% the previous year. The New York Times (NYT) described this measure as "Harvard’s new step to strengthen diversity."
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