For some families, Harvard University just got a little bit cheaper. The Ivy League institute located in Cambridge, Massachusetts—which costs about $83,000 annually in 2024—recently announced tuition will be free for families whose income is below $200,000 per year. If you’re a family whose household income is less than $100,00, the venerated institution will basically pay for everything. And I do mean everything: tuition, housing, fees, travel costs, event and activity fees– and if you need some cold weather gear to adjust to the Boston winters, Harvard is covering that, too. They’ll even give you a $2,000 start-up grant to get you situated; all you have to do is get in.
Harvard has something like 52 billion dollars in endowment. It could afford to pay for all students tuition from just the return on the endowment.