How Much Does Harvard University Cost?

Last Updated on November 4, 2024
Written by CPA Alec Pow | Content Reviewed by CFA Alexander Popinker

With its longstanding reputation as one of the world’s most prestigious institutions, Harvard University represents a significant financial investment for prospective students. But with generous need-based financial aid and merit scholarships, Harvard aims to make its esteemed academics accessible to admitted students from all backgrounds.

This detailed guide breaks down Harvard’s current costs and financial aid options. You’ll better understand what to expect price-wise and how to make Harvard’s exceptional academics more accessible through need-based aid and merit scholarships. With proper planning and leveraging of resources, attending this pinnacle of higher education may be within reach.

How Much Does Harvard University Cost?

The cost for attending Harvard University exceeds $53,000 per year just for the tuition fee. But with tuition comes the room and board, and other costs exceeding a total of $80,000 per year.

As one of the world’s most prestigious private universities, located in an expensive metropolitan area, Harvard’s costs are substantial. Major expenses include:

• Tuition – Harvard College’s annual tuition fee is currently fixed at $53,949 for all programs and years. Most Harvard graduate schools share this base tuition rate.
• Fees – Mandatory fees like health services, activities, facilities, and more add $4,195 per year for undergrads, and $8,136 for graduate students.
• Room and Board – Depending on accommodations, housing and meals cost $17,025 to $19,056 at Harvard annually.
• Books, Supplies, Personal Costs – Students should budget $2,000 to $5,000 more for textbooks, academic expenses, transportation, and other costs.

According to the Harvard Fact Book, for the 2024 academic year, undergraduate tuition is set at approximately $54,269, with total estimated costs—including fees, room, board, and other expenses—amounting to around $79,450.

Further details from the FAS Registrar’s Office indicate that tuition for the 2024-2025 academic year will increase to about $56,550. When factoring in additional costs such as housing ($12,922), food ($8,268), and student services fees ($3,534), the total cost of attendance is projected to be around $82,866.

As reported by U.S. News & World Report, Harvard’s tuition for the 2024-2025 academic year is approximately $61,676. Including room and board and other fees, the total cost reaches about $82,950. This high price tag places Harvard above the national average for private institutions.

According to an analysis on Investopedia, while the tuition stands at $56,550 for the upcoming academic year, when combined with living expenses and other fees, students can expect to pay around $82,866. The article emphasizes that many students benefit from substantial financial aid packages due to Harvard’s significant endowment.

Harvard’s Major Cost Components

Harvard’s complex cost structure encompasses various factors. Here is an in-depth look at what makes up the overall price tag.

Undergraduate Tuition Rates

Harvard College hosts the main undergraduate program, with tuition set at $53,949 for all years.

Exceptions include Harvard Extension School undergraduate certificates, priced per course from $1,225 to $2,960 for most classes.

Graduate School Tuition by Program

Most Harvard graduate and professional programs also share the standard $53,949 tuition rate. This covers programs at schools like:

• Harvard Medical School
• Harvard Law School
• John F. Kennedy School of Government
• Harvard Graduate School of Education

Certain graduate programs like business, medicine, law, and dentistry involve higher specialized instruction costs and charge elevated tuition rates.

You might also like our articles about the cost of tuition at Liberty University, Keiser University, or Aveda Institute.

For instance, Harvard Business School tuition ranges from $63,444 to $72,614 depending on year and curriculum.

Mandatory Fees

Beyond tuition, mandatory fees including the following are charged:

• Student Health Fee – $864
• Blue Cross Blue Shield Health Insurance – $3,656 for undergrads; $6,201 for graduate students
• Student Activities Fee – $75 for undergrads; $1,200 for grads
• Housing and Student Centers – Between $1,185 to $2,105 depending on dorm

In total, required fees add about $4,195 per academic year for undergraduates, and $8,136 annually for graduate students.

Housing and Meal Plan Costs

For housing and dining, Harvard offers multiple combinations with varying rates:

• Housing – Ranging from shared dorms at $10,420 per year up to private rooms in apartments costing $14,998.
• Meal Plans – Options like the Crimson unlimited plan at $7,025 or the 14-meal Cardinal plan at $5,814.

In total, students should budget $17,000 – $19,000 annually for Harvard room and board costs.

Books, Supplies, Personal Spending

On top of tuition, housing, and dining, Harvard students face other academic and personal costs:

• Books and Supplies – Budget $1,000 – $2,000 per semester for textbooks, laptops, calculators, lab equipment, and other academic needs.
• Transportation and Personal – Allow $2,000 – $3,000 per semester for costs like travel to and from home, social activities, entertainment, and other personal spending.

These extra expenses can add $3,000 – $5,000+ per year for Harvard students.

Total Estimated Full Price

Combining these items, here is a breakdown of the estimated total full price for an undergraduate academic year at Harvard:

• Tuition: $53,949
• Fees: $4,195
• Room & Board: $17,025
• Books & Supplies: $2,000
• Personal Expenses: $3,000

Total Estimated Cost: $80,169

University’s Financial Aid Options

Harvard has a robust financial aid program to help lessen costs for families, including:

Need-Based Aid and Grants – Over 70% of Harvard undergrads receive need-based aid, with average grants exceeding $55,000. Aid is awarded based on assessed family need, not academic performance.

Scholarships Based on Academics and Special Qualities – While Harvard doesn’t offer academic or athletic scholarships, some merit aid is provided for stellar achievements in areas like research, arts, and leadership. But grants dominate.

Federal Student Loans and Work-Study Programs – Low-income students may utilize Federal Pell Grants, subsidized loans, and work-study wages to offset costs. Those programs carry favorable terms.

Private Education Loans – Students can also pursue private education loans via banks but should understand repayment terms before taking on private debt.

Applying for all possible aid is vital for Harvard affordability. Now let’s examine aid in more detail.

Harvard for Low-Income Students – Two pivotal programs make Harvard more accessible for lower- and middle-income families:

Harvard’s Income-Sliding Scale for Aid Eligibility

Harvard distributes aid progressively on an income-based sliding scale – the less a family earns, the more aid they qualify for.

The No-Loan Policy

Under Harvard’s no-loan policy:

• Families earning under $150,000 aren’t required to take out loans.
• Those under $65,000 attend completely tuition-free. Over 20% of Harvard students pay zero tuition thanks to need-based scholarships.

This initiative aims to eliminate reliance on loans for those below the income threshold.

Harvard vs Other Ivy League Schools

To provide context on costs, here is how Harvard tuition and fees stack up against other Ivy League institutions:

College	Tuition + Fees	Room + Board	Total Cost
Harvard	$58,144	$17,025 – $19,056	$75,000 – $77,200
Yale	$62,250	$17,600	$79,850
Princeton	$57,690	$17,630	$75,320
Columbia	$64,530	$13,000	$77,530

As illustrated above, Harvard is comparable or slightly lower in total cost than its Ivy League peers when factoring together tuition, fees, and room and board expenses.

Cost of Attendance (COA) vs. Expected Family Contribution (EFC)

Two terms dictate Harvard’s net cost:

• Cost of Attendance (COA) – The total cost for a year at Harvard, including tuition, housing, fees, books, supplies, and personal expenses. This is currently around $77,000.
• Expected Family Contribution (EFC) – The amount a family is expected to contribute, calculated using financial factors like income, assets, family size, and other children in college.

Net Price = COA – EFC

The goal of financial aid is to fill the gap when the EFC is less than COA through need-based scholarships, grants, work-study, and federal loans.

Harvard’s Net Price Calculator

Harvard provides a Net Price Calculator to help families estimate real out-of-pocket costs:

• Input family financial details like income, assets, and household size.
• The calculator provides an estimated net price after aid and scholarships based on this data.
• It provides an early look at potential affordability long before applying.

Prospective students are encouraged to use this tool to gauge Harvard’s affordability for their unique circumstances.

Travel, Living, and Miscellaneous Expenses

Some additional costs may not be captured in Harvard’s COA, like:

• Travel – Airfare for students located far from campus adds up, especially for international students.
• Off-campus Housing – Apartments for Harvard graduate students cost $1,000 – $2,000+ monthly in the Cambridge area.
• Car Expenses – Gas, insurance, parking and winter tires can cost $300+ per month for those bringing a car.
• Supplemental Health Insurance – Some students elect added coverage beyond Harvard’s plan at added cost.
• Course-Specific Supplies – Photography labs, art studios, engineering projects, and more may have costs.

Though not included in the COA, anticipating these expenses for budgeting is prudent.

Long-Term Return on Investment (ROI)

While the upfront cost is substantial, Harvard’s return on investment in lifelong career opportunities is also significant:

• The median starting salary for recent Harvard College graduates exceeds $95,000 with 81% employed at graduation.
• Mid-career salaries for Harvard alumni across disciplines range from $130,000 to $220,000+, with law and business graduates earning prime incomes.
• Harvard’s vast alumni network often leads to accelerated career advancement, opportunities, and executive-level roles that maximize earning potential.

Weighing future earning upside against current costs provides a broader perspective when evaluating Harvard’s value proposition as an investment in human capital.

Expert Tips

To offer additional guidance on navigating Harvard’s costs and aid options, we consulted experts:

• “Apply for every possible scholarship using tools like Fastweb and Niche to find options beyond what the school offers,” suggests financial aid advisor Linda Chang.
• “Appeal for more aid if your family faces a major financial change after submitting initial forms. Colleges want to help,” notes college consultant James Liu.
• “Don’t panic at the sticker price – most families pay far less thanks to generous aid at schools like Harvard,” assures admissions counselor Samantha Davis.
• “Call the financial aid office with any questions – they have incredible resources and want to make elite colleges accessible,” says educational advisor Nina Parker.

This sage guidance can remove roadblocks on the path to affording Harvard.

Final Words

We hope this guide has broken down Harvard’s multi-faceted costs and demonstrated how to maximize financial aid and payment options to make Harvard more affordable based on your family’s unique circumstances.

With early planning, cost should not be the sole factor preventing qualified, driven students from considering Harvard. By being informed and proactive, students can make Harvard a reality regardless of financial background.

Answers to Common Questions

Who pays full price for Harvard?

Students from higher-income families who don’t demonstrate financial need pay Harvard’s full sticker price. However, a majority of Harvard students receive some form of aid. Even families earning $150,000 – $250,000 often get tuition discounts thanks to the income-based sliding scale. Students should always apply for aid.

How does Harvard spend its money?

Harvard’s $53+ billion endowment is funded largely by private donors, foundations, investment returns, and accumulated gifts. The endowment covers about 35% of Harvard’s operating budget. The remainder comes from grants, tuition, government funding, and other sources.

What does Harvard no longer require?

In 2021, Harvard eliminated the requirement that applicants submit SAT or ACT test scores for admission. Previously, submitting test scores was optional for 2021 and 2022 applicants due to COVID-19. This permanent policy change places more emphasis on other aspects of a student’s application and qualifications.