Harvard University has announced a significant expansion in its financial aid program, which will allow students from families earning less than $200,000 to qualify for assistance starting in the 2025-26 academic year. Specifically, students from families earning below $100,000 will have all costs covered, including tuition, housing, and more. This decision comes amid increased scrutiny from the Trump administration regarding elite universities and their funding policies, as well as threats to tax Harvard's substantial endowment.
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.
The new financial aid comes as the Trump administration intensifies scrutiny of elite universities, including Harvard, targeting their diversity initiatives, student aid, and federal funding.
Harvard president Alan Garber said in a statement on Monday, "By bringing people of outstanding promise together to learn with and from one another, we truly realize the tremendous potential of the University."
Trump has proposed taxing Harvard's $53 billion endowment by up to 35% - a threat that Garber said "keeps me up at night."
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