A major HFAI emphasis was demystifying aid, so applicants from lower-income families could readily determine their prospective college costs—or be assured that they would incur none. As described by the Harvard Financial Aid Office’s “How Aid Works” webpage (at least before today’s announcement), above the $85,000 family income threshold for free attendance during 2024-2025, “Families with annual incomes between $85,000 and $150,000 will contribute between 0 and 10 percent of their income. Those with incomes above $150,000 will be asked to pay proportionately more than 10 percent based on their circumstances.”
According to the March 2024 University news release on class of 2028 admissions , “Nearly one-quarter of students attend Harvard with no parent contribution”—meaning their family incomes then were $85,000 or below. That suggests that across the other 30 percent of the undergraduates receiving aid, the average family cost would have been somewhat less than twice the $15,700: from a minimal amount (a percent or so of family income for those with income in excess of $85,000) to more than the average (more than 10 percent of family income for those with income in excess of $150,000), per the stepped percentage-of-income formula.
As a practical matter, for most students, the level of aid granted under the new tiers unveiled today may not differ that significantly from the prior level of aid (including that granted under the stepped-up contribution for those with family incomes above $150,000). This year’s term bill is $82,866 (including the $56,550 tuition component); assuming the 2025-2026 bill again increases about 4 percent, to about $86,000 (and tuition to about $58,800), families with incomes of $200,000 or less will be looking at an additional aid amount (“free tuition plus”) to cover some portion of $27,200 of room, board, and fees. Under the old formula, those with incomes of $150,000 and above were going to be asked to pay somewhat in excess of 10 percent of family income toward their child’s annual cost of attendance, depending on their individual circumstances. The aim of the new aid structure is to provide some benefit for families in the middle-income band.
Updated March 25, 2025, 9:20 A.M.: The College has posted, but not otherwise announced, the 2025-2026 term bill: $86,926 , a larger-than-estimated increase of $4,060, or 4.9 percent, over the current year. That represents a continuing, sharp escalation in the rate of increase from prior years : the 2024-2025 term bill was 4.3 percent larger than the prior year’s, which in turn represented a 3.5 percent increase over year before that (and a preceding long period of 3.0 percent annual increases).
The billed expenses include tuition ($59,320), room ($13,532), board ($8,598), and fees ($5,476). Under the new financial aid terms, students from families with incomes of $200,000 or less will not be billed for the tuition part of the annual charges, and those with incomes of $100,000 or less will attend free of charge.
But as a communicative matter, it may be a simpler sell, or a more comforting one,