Harvard College has provided assistance to students who need help in meeting their education expenses for over 350 years, enabling us to seek out the most outstanding scholars in the world and open our doors to students of exceptional ability and promise, regardless of their financial circumstances. Approximately 60% of undergraduates will receive an estimated $182 million in need-based Harvard Scholarship aid in 2013-14. Over the past decade we have increased our financial aid by 150 percent, enhancing our program to ensure the affordability of a Harvard education even in these challenging economic times. We understand that the thought of financing four years of college can be a daunting prospect for anyone, and we are eager to help you and your family understand our financial aid programs and assist you in finding ways to meet your college costs.
All of our financial aid is awarded on the basis of demonstrated financial need – there are no academic, athletic or merit-based awards, and we meet the demonstrated need of every student, including international students, for all four years. We invite you to explore our web site for a detailed description of all aspects of our aid program, including our Harvard Financial Aid Initiative for low and moderate income students, under which parents with incomes currently below $65,000 are not expected to contribute to college costs.
We do not consider home equity or retirement accounts as resources in our determination of a family contribution, and aid packages do not include any loans. A typical student may receive over $150,000 in Harvard scholarship assistance over four years and the majority of students receiving scholarship are able to graduate debt-free. Our program continues to be generous for students across the economic spectrum, with more than two thirds of those receiving scholarship assistance coming from families with incomes greater than $65,000.
We invite prospective students and their families to complete our Net Price Calculatorto receive an individual estimate of their scholarship eligibility and cost of attendance at Harvard. We look forward to working with you.