Harvard Tuition Fee and Financial Aid Statistics

Harvard Tuition Fee and Financial Aid Statistics

Cost of a 4-year Undergraduate degree

  • One year, including living costs, at Harvard will cost an estimated $80,263
  • The tuition fees for a year at Harvard cost $57,261
  • Housing & Food costs are estimated to be $19,502
  • Books & Personal Expenses are expected to be $3,500
  • While transport costs are expected to be $0 for a student living on campus
  • This puts the tuition fees for a 4-year degree at an estimated $229,044
  • And the total cost of a 4-year degree including living costs at $321,052

Paying for Harvard

  • The average parent contribution towards a Harvard degree is $13,000 per year
  • Although more than 22% of families pay nothing toward their child’s education
  • Harvard claims to meet 100% of their students’ financial needs — meaning if a student can demonstrate they cannot pay anything towards their degree then 100% of the costs will be covered
  • But this also means that students from wealthier families will be expected to pay more out of pocket toward their education
  • A family where both parents earn the median wage, the parents are expected to contribute $12,550 toward the price of college
  • The student is expected to contribute a further $3,500 through student-term work
  • This equates to working around 6 hrs per week during term time at Massachusetts state minimum wage without taking taxes into account
  • With the family contributing a combined $16,050 towards costs, the remaining $65,113 will be covered by Harvard
  • A large number of Harvard students will graduate without student debt or with manageable debt
  • The typical federal student loan debt for a student that graduates from Harvard is $12,665
  • This is significantly lower than the national average student loan debt upon graduation of $30,000

History of financial aid at Harvard

  • In 1643, Lady Mowlson of London left money to Harvard in her will to be used to aid students at Harvard
  • Since then, it has become common or even a tradition for people to donate money to Harvard in this way to support students
  • In 1934, Harvard President James B. Conant created the National Scholarship Plan
  • This helped many more people into higher education across the country than otherwise would have been able to attend and increased the diversity of the undergraduate pool
  • Families with a combined income below $75,000 pay nothing towards the cost of a Harvard education