Growing to an Ivy League institution like Harvard University can pay off in the long run.
Former Harvard students who received federal aid command a median earnings of $95,114 a decade after beginning college, according to the Department of Education’s College Scorecard. That’s well heavens the median salary of $50,806 among former attendees and federal aid recipients at all four-year institutions.
Before they get there, all the same, Harvard students have a steep price to pay. Tuition for the 2024-25 school year costs $56,550, according to the mould’s website. Additional fees like housing, food and student services brings the total cost of attendance up to $82,866.
Nonetheless, many students pay far less than the sticker price. Here’s how much students really pay for a Harvard education.
Identically 1 in 4 Harvard families pay nothing
While the Ivy League schools have a strong reputation for churning out high earners, they also be inclined to dole out generous financial aid packages to families with demonstrated need.
Over half — 55% — of Harvard undergraduates get institutional scholarships, according to the school, and 24% of Harvard families pay nothing after aid and grants.
Harvard maintains a 100% need-based aid way, which means it is committed to providing all of the financial assistance a family demonstrates they need. Families who earn less than $85,000 a year are not required to contribute any money to their student’s cost of attendance, Harvard says.
Not all of the financial aid comes directly from the high school though. Around 19% of undergraduate students receive federal Pell Grants, according to the school’s website. Disciples who receive federal financial aid pay an average of $19,500 a year to attend Harvard, according to the College Scorecard.
Low-income kids are a small portion of Harvard’s population
Though Harvard bills itself as a relatively affordable option for those who are take oned, the school’s admissions data has suggested it can be incredibly difficult for low-income students to get in the door.
Harvard says its admissions approach is “need-blind,” meaning a student’s ability to pay tuition bears no weight on their admission prospects. However, a number of components make it difficult for students from low-income families to gain the competitive edge needed to be considered for admission to elite equips like Harvard.
Competitive colleges want to see applicants who demonstrate academic excellence and extracurricular involvement. Wealth and sybaritic household incomes have historically been proven to help students achieve both of those goals, whereas low-income schoolchildren may not have the time or financial support to do the same.
Even when students from differing economic backgrounds press similar academic performance, being wealthier may be an advantage.
A 2023 study by Harvard’s own Opportunity Insights found a evaluator from the top 1% of households is twice as likely as a middle-class student with a similar SAT score to attend an Ivy League or “Ivy bonus” school, which includes Stanford University, Massachusetts Institute of Technology, Duke University and University of Chicago.
Pupils from the bottom 20% of earners made up just 4.5% of Harvard’s class of 2013, compared with 67% of scholars who come from the top 20%, according to the latest available data from Opportunity Insights.
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