Financial Aid
Harvard University is one of the most prestigious universities in the United States. It was founded in 1636 and is in Cambridge, Massachusetts. Harvard has over 11,000 students (about the seating capacity of Cameron basketball stadium at Duke University) enrolled each year and offers undergraduate and graduate degrees.
The university receives over $2 billion in financial aid annually, including scholarships, grants, loans, and work-study programs for qualifying students. In addition to being a top institution for higher education worldwide, Harvard also offers some of the best financial aid packages available to prospective students who can afford tuition on their own but need assistance with paying for other expenses such as room and board or textbooks.
Here are some types of financial aid you can receive at Harvard:
Scholarships and Grants
Scholarships and grants are financial aid that must not be paid back. They may be based on merit, need, or a combination.
There are many different types of scholarships and grants available to eligible students:
- Federal Pell Grant: This grant is awarded based on financial need and availability of funds. You can apply for this grant online at FAFSA.gov or mail an application directly to your school’s office of financial assistance if you’re eligible for federal student aid programs (the Free Application for Federal Student Aid).
- State-sponsored Scholarships: These awards vary by state but are often merit-based awards given out by the state government; some states also offer need-based assistance through their scholarship programs as well as other ways to help pay for college like tax credits or tax deductions on tuition payments made during the year before applying for your degree program.* Private Scholarships/Grants: These awards typically come from foundations set up by individuals who wish their money would go toward helping others succeed academically–you can find these opportunities online through websites like Scholarship America!
Outside Awards
Outside Awards include awards from organizations outside the Harvard Financial Aid program. Outside Awards can replace loans if they do not exceed the Harvard attendance cost. Outside Awards cannot be used to replace Student Employment or Work-Study (in fact, if you take an outside award and work on campus during the same semester, your entire paycheck will be applied toward paying back your loan).
Outside Award funds can come from any source: private scholarships such as those awarded through The Coca-Cola Foundation, outside organizations like Teach for America, or even your savings account!
Student Employment
- Work-Study
- Federal Work-Study is a need-based financial aid program that provides part-time jobs for undergraduate and graduate students on and off campus. Positions are available in various fields, including clerical work, teaching assistantships, research assistantships and computer lab assistance. The amount of your award will depend on your financial need and other factors, such as the availability of funds at your school and the number of hours you choose to work each week (up to 15 per semester). Most employers pay at least minimum wage for their student employees; however, some employers may pay more than minimum wage depending on experience level or skills required by the position description.
- Non-Federal Work Study – Some colleges also administer their non-federal work-study programs through private donations rather than government funding; these awards typically have less stringent eligibility requirements than federal aid programs but may provide similar benefits such as part-time employment opportunities with hourly wages or stipends based upon academic standing/performance criteria
Loans
Loans are a type of financial aid that you borrow from the government or a private lender. You can use loans to help pay for your education, but they must be repaid with interest. Loans, grants, and scholarships are often included in your financial aid package, which can be paid back after some time.
You can apply for federal student loans through the U.S. Department of Education’s website (studentaid.ed.gov). State-sponsored programs may also provide funding for students who qualify based on their income level and other factors; visit [your state]’s education department website for more information
