Harvard will now be completely free for students from families with incomes under $100,000, the university said on Monday, as part of a significant financial aid expansion.

Why it matters: Harvard is under a hiring freeze and scrutiny from the federal government that could lead to funding cuts.

• It’s the latest elite schools to expand financial aid since the Supreme Court overturned affirmative action in 2023.

By the numbers: About 86% of U.S. families will qualify for Harvard’s financial aid, which will expand starting with the 2025-26 school year.

• The college will be free for families with annual incomes of $100,000 or less, meaning tuition, food, housing, health insurance and travel costs will be covered.
• Attendance will be tuition-free for students from families with annual incomes under $200,000.

Zoom out: Harvard earlier this month announced a hiring freeze in response to “substantial financial uncertainties” in higher education caused by the Trump administration’s crackdowns.

• Harvard, under federal investigation, also faces potential funding cuts for alleged antisemitism. It was one of dozens of schools where students protested the Israel-Gaza war with on-campus encampment.

Between the lines: While the announcement doesn’t explicitly mention diversity, it does say that the move will allow more students to attend, regardless of their financial circumstances.

• “Putting Harvard within financial reach for more individuals widens the array of backgrounds, experiences, and perspectives that all of our students encounter, fostering their intellectual and personal growth,” Alan Garber, Harvard University president, said in a statement.
• Since the Supreme Court struck down affirmative action, several selective colleges have boosted their financial aid policies.

State of play: Americans’ confidence in higher education has fallen significantly over the past decade, while schools also prepare for a looming decline in enrollment.

Zoom in: Harvard’s tuition and fees, including housing, cost nearly $83,000 in the 2024-25 school year for undergraduate students.

Go deeper: Trump fear freezes hires at MIT, Harvard