<p>Hi I had another question for everyone :) Especially those who are going to attend Harvard this fall.</p>
<p>I'm a Canadian student and was curious what Harvard's Financial Aid is like?</p>
<p>Most scholarships/financial aid can pay for your tuition but a major expense is also your residence, living expenses, food, etc... Are such expenses covered by Harvard's Financial Aid? Is financial aid solely based on your parent's income or is merit factored into the decision? How do students who's parents make above the $60,000 dollar mark fare when it comes to aid? </p>
<p>Personally, I am attending a private school in Canada, but I am going to be dependent on financial aid by the time I'm done high school since our family invested much of our savings into my education. The hope for me going to a private institution was to increase my chances at a scholarship for a school like Harvard, so I'm pretty concerned on how I might pay for Harvard before I even think of applying (seeing how I'm not one of those with a parent's income below $60,000 who have full scholarships but was fortunate enough to attend a very good school).</p>
<p>Sorry for the long post, but If anyone could help out that would be great.</p>
<p>Harvard Financial Aid is the same for both international and domestic students. It works on a need-based status only, thus, merit scholarships, athletic scholarships, etc. are not awarded. The financial aid package is all inclusive: tuition, room, board, books, traveling expenses, spending money, etc. </p>
<p>The breakdown:
If you family’s total income is $60k or less, the family contribution will generally be nothing assuming typical assets. From $60k-$120k, the family contribution will be anywhere from 0 to 10 percent of the total income, with 0% beginning at $60k and rising to 10% when you hit $120k. From $120k to $180k, family contribution will be 10% of the total family income. Over 200 families above this mark still receive aid due to other circumstances (multiple children in schooling, taking care of an ailing relative, etc.)</p>
<p>All packages are grants only (money you don’t pay back), thus, the financial aid package will never include loans. Furthermore, the college places upon every undergraduate a student contribution of $2500 annually. This generally is where some opt to take on loans, though work-study and term time jobs are numerous.</p>
<p>huinsider said it very nicely. You can call the financial aid office and ask specific questions for your situation. They are very easy to talk to</p>