Harvard University Complete Information
Financial Aid
Financial Aid is a form of assistance given to students who have demonstrated financial need. It may come through grants, scholarships, work-study or loans. Financial Aid is awarded based on your Free Federal Student Aid (FAFSA) application. Your family’s financial situation will determine how much money you can get from each type of aid and whether or not your aid application is approved.
Financial aid must only be repaid if someone else has borrowed it from you and has yet to pay it back!
How Financial Aid Works
Financial aid is available for students based on need rather than merit or academic achievement. To qualify for financial aid at Harvard, you must complete the Free Application for Federal Student Aid (FAFSA) by the appropriate deadlines. It includes submitting your parents' income tax returns and other documents as requested by the FAFSA application instructions.
Financial aid awards are based on this information, so you should complete it as accurately and completely as possible when you apply for admission!
Net Price Calculator
To use the net price calculator, enter information about yourself and your family's income. The calculator will then estimate what you can expect to pay for college each year.
The calculator will not tell you the following:
- How much aid you might receive from scholarships, grants or loans
- Whether or not you are eligible for financial assistance at all (some schools have strict eligibility requirements)
Apply for Financial Aid
Apply online at www.collegeboard.org/apply. You will need your high school ID number and a parent or guardian's Social Security number to complete the application.
Mail in the Free Application for Federal Student Aid (FAFSA) form with all required information, which includes income tax returns from both parents and W-2 forms from employers; the address is listed on their website under "Where To Get Help."
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Additional Funding & Procedures:
In addition to the financial aid listed above, you may be eligible for other forms of funding. These include:
- Grants - A grant is money you don't have to pay back. It can come from government programs or private organizations like foundations, churches and community groups.
- Scholarships - A scholarship is an award based on academic performance, leadership qualities or special talents that don't need repayment. You might be eligible if you're a member of an underrepresented higher-education group (such as female or African American).
- Loans - If your financial situation requires borrowing money for college expenses (and you don't qualify for other types of aid), consider taking out federal student loans rather than private ones because they offer better terms than most bank loans do -- including fixed rates over time so there's less risk involved when interest rates rise later down the road!
History of Financial Aid
Financial aid has been around since the early days of Harvard University. The first financial assistance program was created in 1643 and was intended to provide scholarships for students who could not afford tuition.
Today, the goal of financial aid is still the same: to help students from all backgrounds get an education at one of America’s top universities.
Federal Disclosures
The following are important disclosures:
- Federal Student Aid Data Center
The Federal Student Aid Data Center is a website that contains information about your federal student loans, including your balance and payment history. You can access this site here: https://studentaid.ed.gov/sa/.