For over 350 years, Harvard has provided financial aid and assistance to students and their families that need help with their educational expenses. In 2012-13, Harvard awarded $172 million in need-based scholarships – a record-breaking year in giving for this elite institution. Not everyone who attends Harvard comes from money. Nearly sixty-percent of students attending the school receive some form of financial assistance from the school.
Harvard’s financial aid system is structured to provide for students who demonstrate a need. The school reports that they do not offer academic, merit or athletic awards, but rather award financial aid based on the student’s demonstrated financial need.
Harvard also reports that applying for financial aid in no way jeopardizes a student’s opportunity for admission to the college. In fact, the Admissions Board may look favorably on a student who has overcome life’s obstacles in order to pursue a fine education, which includes financial burdens. Harvard promises to meet the need of every student who can demonstrate their financials. This includes all domestic and international students, for all four years of attendance to the school.
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In 2007, the financial aid process at Harvard was redesigned and enhanced in order to provide middle and upper-middle income families assistance in affording to attend the school. Low and moderately-low income families are also encouraged to apply, as the redesign of the financial aid process was enhanced in 2004. This means that parents with an annual income of $65,000 are not expected to pay for their child’s tuition to go to Harvard.
Harvard offers a step-by-step process that guides students and their parents through the financial aid procedures required. The first step for prospective students is to complete the CSS Profile Applications can be found at www.collegeboard.org. Harvard’s CSS Code is 3434 and should be designated on the on the application. Early action admission typically takes place on November 1 or each year, while regular action admission takes place on February 1.
If you or your parents’ reported income or losses during the prior year of admission to Harvard, federal income tax returns must be provided. Once the CSS Profile is completed, instruction on how and where to submit the tax returns is provided. The student’s tax returns must also be provided if income was reported.
Another important and crucial component of the financial aid process at Harvard is the Free Application for Federal Student Aid, which is available online or from the counseling/guidance office of the student’s high school. The application cannot be overlooked and it is important that the student be aware of the required dates. The Free Application for Federal Student Aid can be filed after January 1 of each year.
It’s important to note that Harvard does not offer any athletic scholarships. While you may be a gifted athlete, if your goal is to attend college on an athletic scholarship, you will need to look elsewhere. However, Harvard does have plenty of financial assistance packages to help every student who is accepted into the program.
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