The Actual Cost of Attending Harvard: What Students Really Pay, According to NBC Los Angeles

Former Harvard students who received federal aid are reaping the benefits of their Ivy League education, with a median salary of $95,114 a decade after starting college. This figure far surpasses the median salary of $50,806 among former attendees and federal aid recipients at all four-year institutions, according to the Department of Education’s College Scorecard.

While the cost of attending Harvard is steep, with tuition for the 2024-25 school year totaling $56,550, many students pay far less than the sticker price. In fact, nearly one in four Harvard families pay nothing after receiving aid and grants, thanks to the school’s commitment to providing financial assistance based on demonstrated need.

Harvard’s 100% need-based aid policy ensures that families earning less than $85,000 a year are not expected to contribute any money to their student’s cost of attendance. Additionally, around 19% of undergraduate students receive federal Pell Grants, further reducing the financial burden for those in need.

However, despite Harvard’s efforts to make education more accessible, low-income families remain a small portion of the school’s population. Admissions data suggests that it can be challenging for students from low-income backgrounds to gain entry to elite institutions like Harvard, as factors such as academic excellence and extracurricular involvement may be more easily achieved by wealthier students.

A study by Harvard’s Opportunity Insights found that students from the top 1% of households are twice as likely as middle-class students with similar academic performance to attend Ivy League or “Ivy plus” schools. This disparity highlights the ongoing challenges faced by low-income students in accessing higher education opportunities at prestigious institutions like Harvard.