Harvard is offering free tuition for families that make less than $200K

Bravo to Harvard and other colleges offering free tuition to qualified applicants, as well as to all schools working to increase their financial aid awards,

said Robert Franek, The Princeton Review's editor-in-chief

Harvard's announcement is long overdue given Princeton increased its threshold for 100% aid, including tuition, room and board, to families who earn less than $100,000 in 2023,

said Hafeez Lakhani, founder and president of Lakhani Coaching in New York

This covers all billed expenses including tuition, food, housing, health insurance, and travel costs,

the announcement explained

Our financial aid is critical to ensuring that these students know Harvard College is a place where they can be part of a vibrant learning community strengthened by their presence and participation,

he continued

Sally KornbluthmIT President

The cost of college is a real concern for families across the board,

MIT President Sally Kornbluth said

Harvard has long sought to open our doors to the most talented students, no matter their financial circumstances,

Hopi Hoekstra, Harvard’s dean of the faculty of arts and sciences, said in a statement

By bringing people of outstanding promise together to learn with and from one another, we truly realize the tremendous potential of the university.”

He added

Offering a student to go tuition-free based on their household income and/or academic achievement level ensures some students who would more than likely thrive at their institution but don't have the financial resources could attend,

Beene said

When it comes to free tuition for students, both the number of schools that offer it and the criteria needed to obtain it are small. Only a few dozen nationwide provide select students with the ability to go tuition free, with many of these like Harvard being universities that make the vast majority of their income from students from higher income households, donors who may or may not be alumni, and federal and state grants."

Alex Beene, a financial literacy instructor for the University of Tennessee at Martin, told Newsweek

Alan Garberharvard University President

Putting Harvard within financial reach for more individuals widens the array of backgrounds, experiences, and perspectives that all of our students encounter, fostering their intellectual and personal growth,

Harvard University President Alan M. Garber said in a press release

We know the most talented students come from different socioeconomic backgrounds and experiences, from every state and around the globe,

William R. Fitzsimmons, Harvard College's dean of admissions and financial aid, said in a statement