Guiding Principles of Admissions and Financial Aid at Harvard College:
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Lack of financial resources or need for financial aid are not impediments to admission.
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All financial aid awarded by Harvard is need-based, and grant eligibility is determined in the same manner for all admitted students.
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Harvard meets the full need of all students applying for financial aid for all four years, based on information that we receive from the family for each year.
Who receives financial aid at Harvard?
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Over half of all undergraduates receive need-based Harvard Scholarship aid, totaling over $100 million.
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One quarter of the families receiving need-based scholarship assistance from Harvard have incomes greater than $130,000.
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One fifth of families qualify for the Harvard Financial Aid Initiative, where parents with total incomes less than $60,000 are expected to pay nothing.
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Foreign students have the same access to financial aid funding as U.S. citizens, including the Initiative outlined above.
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Two thirds of students work during the academic year.
What are the income levels of families receiving Harvard Scholarship assistance(2007/08 academic year)?
Sample Financial Aid Packages (class of 2012): |
| |
Family A |
|
Family B |
|
Family C |
Cost of Attendance |
|
$50,250 |
|
$50,250 |
|
$50,250 |
Parent Contribution |
|
- 0 |
|
-10,000 |
|
-20,000 |
Student Contribution |
|
- 1,500 |
|
- 1,500 |
|
- 1,500 |
Need |
|
48,750 |
|
38,750 |
|
28,750 |
Term-time work |
|
- 2,500 |
|
- 2,500 |
|
- 2,500 |
Total Scholarship |
|
46,250 |
|
36,250 |
|
26,250 |
| |
How is the $2,500 term-time work expectation met by the student?
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Students may meet the entire expectation by working 10-12 hours per week.
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Students may still choose to borrow the entire expectation through a student loan that is credited directly to their term-bill account.
How are outside awards treated for students already receiving need-based aid?
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Outside awards are used first to reduce or replace the term-time work portion of the award. Currently there are 600 students who are not expected to work as a result.
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Outside awards may now be used to replace the student summer earnings contribution but not the parent contribution.
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To the extent that outside awards may exceed the term-time work and summer earnings portion of the award, the Harvard Scholarship is then reduced.
Other Features:
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Last year, over 800 students shared $1M in funding, administered by the Student Employment Office, to do research with faculty.
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At the family's request, the Financial Aid Office re-evaluates the parent contribution during the academic year if the family's financial circumstances have changed.
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Students receiving Harvard Scholarship aid are eligible to borrow an additional loan to cover the cost of a computer.
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Students receiving Harvard Scholarship aid who are studying abroad for academic credit may apply their financial aid toward their study abroad costs.
How to Apply for Financial Aid:
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Please visit our website for up-to-date application information. Instructions can be found directly at www.fao.fas.harvard.edu/application_instructions.htm.
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In general, U.S. and Canadian students must submit the College Board’s PROFILE form, relevant federal tax information, and (for US applicants only) the FAFSA (Free Application for Federal Student Aid).
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International (non-Canadian) applicants should complete the Financial Statement for Students from Foreign Countries, also available on our website.
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For additional information, please visit our website at www.fao.fas.harvard.edu.
(rev 3/08 jmk) |
