Cambridge, MA (AP) – Dreaming of going to Harvard University?
Well, the university made things a little easier on Monday with the announcement that students whose families are under $200,000 will not pay tuition fees. The university said the plan will take effect during the 2025-2026 academic year, with the aim of making Harvard more affordable, especially for middle-income students. These students can also receive additional financial assistance to cover other expenses.
“Bringing Harvard financially for more individuals broadens the array of background, experiences and perspectives that all students encounter and promotes intellectual and personal growth,” Harvard University President Alan Gerber said in a statement. “By learning from one another and learning from one another together with outstanding promises, we truly realize the incredible potential of university.”
Gerber means that the plan means students who make under $100,000 will not pay anything. This means that other expenses such as tuition fees and food and housing will be covered. As a result, the university estimates that nearly 90% of US families whose children are accepted will be eligible for some form of financial aid in the future.
“Harvard has long been asking us to open our doors to the most talented students, regardless of their financial situation,” said Hopi Hextra, dean of the Edgarley family in the Faculty of Arts and Sciences. “This investment in financial aid aims to enable Harvard education for all hospitalized students, so we can pursue academic passions and have a positive impact on our future.”
The announcement is the latest from elite higher education institutions offering tuition breaks, as it questions whether rising costs of higher education are worth the price for universities.
Research found that Americans are I’m becoming more and more skeptical Data from the U.S. Bureau of Labor Statistics shows that degree values and the proportion of high school graduates heading towards college have fallen to levels not seen in decades.
However, research still shows that degrees will pay off over time. Americans with a bachelor’s degree earn a median of $2.8 million during their careers, 75% more than they only have a high school diploma. the study From Georgetown University’s Education and Workforce Center.
The increase in tuition fees at private institutions, which have increased 4% over the past decade, has led to several well-known institutions offering similar transactions to Harvard University.
In November, MIT announced that students whose families earn less than $200,000 will not be able to use tuition this fall. Like Harvard University, students with family under $100,000 will not pay anything. These income limits come from the previous $140,000 and $75,000 limits, respectively.
“The cost of university is a real concern for all families,” said MIT president Sally Cornbluth. “We are determined to make this transformative educational experience available to all students who dream of coming to MIT, regardless of their financial situation.
UMass announced in October that Massachusetts students, whose families make up to $75,000, can participate in all tuition fees on all four undergraduate campuses. In December, the University of Michigan announced that undergraduates across the state will be free of charge with families whose income and assets are up to $125,000.
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