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Starting next fall, the prestigious Harvard University will waive tuition fees for students from families earning $200,000 a year (VND5 billion a year) or less.
According to Harvard University's leadership, the financial aid expansion supports the university's decades-long commitment to helping undergraduates, especially those from middle-income families, receive the financial support they need to attend college. This change means that about 86% of families in the US are eligible for financial aid from Harvard University, USA Today reported.
Previously, students from families with an income of 100,000 USD/year or less, admitted to Harvard University will receive financial support including tuition, fees, food, accommodation, health insurance... From the 2025-2026 school year, for students from families with an income of less than 200,000 USD/year, the school will waive tuition fees with additional support.
According to the school's financial aid website, undergraduate tuition this year is more than $56,000, while the total cost of attendance is nearly $83,000.
Harvard University's endowment for fiscal year 2024 is a whopping $53.2 billion. The university's scholarship funding comes from a variety of sources, including Harvard's endowment, alumni gifts, general tuition revenue, and federal and state grants.
CNN (USA) reported that Harvard is one of many universities in the US that have expanded financial aid programs for students from low- and middle-income families. In November 2024, the Massachusetts Institute of Technology (MIT) announced that students from families with incomes under $200,000/year will have their tuition waived starting next semester, while those from families with incomes under $100,000 will be completely exempted.
Similarly, the University of Pennsylvania confirmed in November 2024 that it would waive tuition for students from families earning less than $200,000 a year. The University of Texas system pledged to waive tuition for undergraduates from families earning less than $100,000 a year, starting next fall.
According to data collected by US News & World Report, the average tuition and fees at private universities in the US have increased to about $43,000/year (more than 1 billion VND/year).
