Harvard Will Make Tuition Free for Students of Families Making Less Than 200K

[Anonymous]

Anonymous wrote:I wonder what the net price would be for someone making 250k or right outside the limits. Does it jump up from free to 60k+ or is there an incremental increase?

Also, the "free" part is tuition. Room and board, fees, and personal expense estimates are an additional 20k probably, at least.

[Anonymous]

Maybe I should make my husband quit his job for 4 years. I make $195k

[Anonymous]

Anonymous wrote:

Anonymous wrote:Costs are going up. Inflation continues. Of course financial aid will also go up.

Interesting that Harvard felt the need to announce this, as if it's a change from business-as-usual.

Many families assume that the school is too expensive and don't allow kids to even bother applying to schools that are 90K annually, not realizing how financial aid works at schools with healthy endowments.

I’ll tell you how it works; if u make $300k HHI- you will have to pay the $90-95k/year in full

[Anonymous]

Anonymous wrote:

Anonymous wrote:“Typical assets” at Harvard is 200k

00

Yes, and maybe even lower. So the deal of tuition free for <$200k income is more of a marketing thing than a real benefit for families making $150k-$200k.

This. They don't want to look elitist. But they already know that the number of families making $150-200K that have assets below $200K and applying to Harvard is very small.

[Anonymous]

Anonymous wrote:

Anonymous wrote:“Typical assets” at Harvard is 200k

00

Yes, and maybe even lower. So the deal of tuition free for <$200k income is more of a marketing thing than a real benefit for families making $150k-$200k.

Absolutely this.

[Anonymous]

Anonymous wrote:Debatable details aside, it's great to see the cartel smashed and schools competing on price.

So Family A makes $190K and Family B makes $210, and so Family A goes free while family B 9who probably just got to that level this year) is paying a rounded up full price to cover Family A?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:“Typical assets” at Harvard is 200k

00

Yes, and maybe even lower. So the deal of tuition free for <$200k income is more of a marketing thing than a real benefit for families making $150k-$200k.

This. They don't want to look elitist. But they already know that the number of families making $150-200K that have assets below $200K and applying to Harvard is very small.

??? I know many families like this -- most of them are single parent families.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:“Typical assets” at Harvard is 200k

00

Yes, and maybe even lower. So the deal of tuition free for <$200k income is more of a marketing thing than a real benefit for families making $150k-$200k.

This. They don't want to look elitist. But they already know that the number of families making $150-200K that have assets below $200K and applying to Harvard is very small.

??? I know many families like this -- most of them are single parent families.

Harvard also considers noncustodial parent income and assets via the CSS Profile. Unless the parent is deceased, in most cases they are expected to contribute.

[Anonymous]

But will they let any of them in?

[Anonymous]

Anonymous wrote:

Anonymous wrote:I wonder what the net price would be for someone making 250k or right outside the limits. Does it jump up from free to 60k+ or is there an incremental increase?

Also, the "free" part is tuition. Room and board, fees, and personal expense estimates are an additional 20k probably, at least.

OP should have done better about sharing the link to article but it will be a full ride for students with income under 100K with tuition waived for students with income under 200K

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:“Typical assets” at Harvard is 200k

00

Yes, and maybe even lower. So the deal of tuition free for <$200k income is more of a marketing thing than a real benefit for families making $150k-$200k.

This. They don't want to look elitist. But they already know that the number of families making $150-200K that have assets below $200K and applying to Harvard is very small.

??? I know many families like this -- most of them are single parent families.

Something is wrong if they have that income and not saving anything.

[Anonymous]

Anonymous wrote:Do they look at your NW?

+1
I'll be retired and my income might be 200k. The kid's 529 is around 300k. Hopefully, NW and 529 does not count, then we could use 529 for qualified living expenses.

[Anonymous]

Hopefully the other schools will mega endowments follow!

[Anonymous]

Anonymous wrote:

Anonymous wrote:Do they look at your NW?

+1
I'll be retired and my income might be 200k. The kid's 529 is around 300k. Hopefully, NW and 529 does not count, then we could use 529 for qualified living expenses.

If you have looked at all at need-based financial aid, the answer is that of course your assets will be considered. Almost all private universities that are generous with need-based aid will consider assets. Different colleges have slightly different formulas, such as whether they consider home equity and at what %, for example, but they will consider many types of assets.

If you want to see whether you'd be eligible for need-based aid, then use Harvard's Net Price Calculator. Every college has one.

[Anonymous]

I will disown my child for this they are on their own lol