Harvard University has announced a new policy to offer free tuition to students from families earning $200,000 or less annually.
In a statement on Monday, Harvard President Alan M. Garber expressed that this change aims to broaden the diversity of the student body, fostering intellectual and personal growth.
“Bringing together individuals of exceptional potential to learn from one another allows us to fully realize the tremendous potential of the University,” Garber added.
The university also disclosed that students from families earning $100,000 or less per year will receive free housing, food, and health services in addition to tuition coverage.
The overall goal is to ensure that all admitted students can afford the cost of attending Harvard.
Socialist Sen. Bernie Sanders praised Harvard’s initiative and called for more institutions to follow suit in providing free tuition to students.
The eligibility criteria for the program now includes around 86% of families in the United States, Harvard College announced.
Harvard emphasized its commitment to financially supporting every accepted undergraduate student throughout their enrollment and graduation.
In addition to families below the $200,000 income threshold, students from higher-income families will also be considered for financial aid.
The average annual cost for a Harvard student is $56,550, which increases to around $83,000 when factoring in room, board, and health services.
Since launching the Harvard Financial Aid Initiative in 2004, Harvard has provided over $3.6 billion in undergraduate financial aid.
