Harvard Net Price Calculator

Harvard Net Price Calculator

Estimate your potential cost to attend Harvard College after financial aid.

Your Estimated Harvard Net Price:

Estimated Cost of Attendance: $0

Estimated Expected Family Contribution: $0

Estimated Grant Aid: $0

Net Price: $0

This is an estimate. Your actual financial aid package may vary.

function calculateNetPrice() { var parentalIncome = parseFloat(document.getElementById('parentalIncome').value); var parentalAssets = parseFloat(document.getElementById('parentalAssets').value); var studentIncome = parseFloat(document.getElementById('studentIncome').value); var studentAssets = parseFloat(document.getElementById('studentAssets').value); var numDependents = parseInt(document.getElementById('numDependents').value); var numInCollege = parseInt(document.getElementById('numInCollege').value); // Validate inputs if (isNaN(parentalIncome) || parentalIncome < 0) { alert('Please enter a valid positive number for Parental Gross Income.'); return; } if (isNaN(parentalAssets) || parentalAssets < 0) { alert('Please enter a valid positive number for Parental Non-Retirement Assets.'); return; } if (isNaN(studentIncome) || studentIncome < 0) { alert('Please enter a valid positive number for Student\'s Gross Income.'); return; } if (isNaN(studentAssets) || studentAssets < 0) { alert('Please enter a valid positive number for Student\'s Non-Retirement Assets.'); return; } if (isNaN(numDependents) || numDependents < 0) { alert('Please enter a valid non-negative number for Number of Dependents in Household.'); return; } if (isNaN(numInCollege) || numInCollege < 1) { alert('Please enter a valid number (at least 1) for Number of Dependents in College.'); return; } // Harvard's estimated Cost of Attendance (COA) for 2023-2024 or similar year // This includes tuition, fees, room, board, books, personal expenses, and travel. var estimatedCOA = 87450; // Example value, actual COA varies slightly year to year // — Simplified Expected Family Contribution (EFC) Calculation — var efc = 0; // 1. Parental Income Contribution (Simplified Harvard-like model) var incomeContribution = 0; if (parentalIncome 85000 && parentalIncome 1) { incomeContribution = incomeContribution / numInCollege; } efc += incomeContribution; // 2. Parental Asset Contribution (Simplified) // Harvard generally doesn't count primary home equity or retirement accounts. // A small percentage of non-retirement assets is typically expected. var assetContribution = parentalAssets * 0.05; // 5% of non-retirement assets efc += assetContribution; // 3. Student Contribution (Income and Assets) // Student income allowance (e.g., $3,500 – $4,000) var studentIncomeAllowance = 4000; var studentIncomeContribution = Math.max(0, studentIncome – studentIncomeAllowance) * 0.50; // 50% of income above allowance efc += studentIncomeContribution; // Student assets contribution (e.g., 20-25%) var studentAssetContribution = studentAssets * 0.20; // 20% of student assets efc += studentAssetContribution; // Ensure EFC is not negative efc = Math.max(0, efc); // — Calculate Financial Aid and Net Price — var demonstratedNeed = estimatedCOA – efc; var financialAidGrant = Math.max(0, demonstratedNeed); // Harvard meets 100% of demonstrated need with grants var netPrice = estimatedCOA – financialAidGrant; // Display results document.getElementById('estimatedCOA').innerText = 'Estimated Cost of Attendance: $' + estimatedCOA.toLocaleString('en-US', { minimumFractionDigits: 0, maximumFractionDigits: 0 }); document.getElementById('estimatedEFC').innerText = 'Estimated Expected Family Contribution: $' + efc.toLocaleString('en-US', { minimumFractionDigits: 0, maximumFractionDigits: 0 }); document.getElementById('estimatedAid').innerText = 'Estimated Grant Aid: $' + financialAidGrant.toLocaleString('en-US', { minimumFractionDigits: 0, maximumFractionDigits: 0 }); document.getElementById('netPrice').innerText = 'Net Price: $' + netPrice.toLocaleString('en-US', { minimumFractionDigits: 0, maximumFractionDigits: 0 }); } // Run calculation on page load with default values window.onload = calculateNetPrice;

Understanding the Harvard Net Price Calculator

The Harvard Net Price Calculator is a valuable tool designed to help prospective students and their families estimate the actual cost of attending Harvard College after factoring in potential financial aid. Unlike a sticker price, which can seem daunting, the "net price" is the amount a student is expected to pay out-of-pocket or through loans after grants and scholarships are applied.

Harvard's Generous Financial Aid Philosophy

Harvard is renowned for its commitment to need-based financial aid, ensuring that admitted students can attend regardless of their family's financial circumstances. Key aspects of Harvard's financial aid include:

  • 100% Demonstrated Need Met: Harvard pledges to meet 100% of a student's demonstrated financial need.
  • No Loans: For families with incomes below a certain threshold (historically around $85,000), Harvard typically requires no parental contribution and provides grant aid that covers tuition, room, board, and fees. For all aid recipients, financial aid packages are composed entirely of grants and scholarships; no loans are included.
  • Income-Based Contributions: Family contributions are scaled based on income and assets. Families with higher incomes are expected to contribute more, but significant grant aid is still available to those who qualify.

Components of the Cost of Attendance (COA)

The Cost of Attendance (COA) is the total estimated cost to attend Harvard for one academic year before any financial aid is applied. It typically includes:

  • Tuition: The primary cost for academic instruction.
  • Fees: Various charges for student services, health services, etc.
  • Room and Board: Costs for on-campus housing and a meal plan.
  • Books and Supplies: Estimated expenses for textbooks and other academic materials.
  • Personal Expenses: An allowance for day-to-day costs like toiletries, entertainment, and miscellaneous items.
  • Travel Expenses: An estimated amount for transportation to and from campus.

The calculator above uses a recent estimate for Harvard's comprehensive COA.

How Expected Family Contribution (EFC) is Determined

The Expected Family Contribution (EFC) is an index number used by financial aid offices to determine how much a family can reasonably contribute towards college costs for one year. Harvard uses its own institutional methodology, which can be more generous than the federal FAFSA EFC. Factors typically considered include:

  • Parental Income: The largest factor, including wages, salaries, and other taxable and untaxed income.
  • Parental Assets: Non-retirement savings, investments, and other assets. Harvard generally does not consider the equity in a family's primary residence or retirement accounts.
  • Student Income and Assets: A portion of the student's own earnings and savings.
  • Family Size: The number of dependents in the household.
  • Number of Children in College: If multiple children are enrolled in college at least half-time, the EFC is often divided among them, reducing the contribution per student.

The calculator above provides a simplified model of these factors to give you a general idea of your potential EFC.

Net Price Calculation

Once the Estimated Cost of Attendance (COA) and the Estimated Expected Family Contribution (EFC) are determined, the calculation is straightforward:

Demonstrated Need = Estimated COA – Estimated EFC

Estimated Grant Aid = Demonstrated Need (if positive)

Net Price = Estimated COA – Estimated Grant Aid

This net price is the amount your family would be expected to cover, either through current income, savings, or potentially student work-study earnings (which are often part of the aid package but not included in the "grant aid" portion of this calculator).

Important Disclaimer

This calculator provides an estimate based on simplified assumptions and current financial aid policies. Your actual financial aid award from Harvard College may differ based on the detailed information provided in your official financial aid application (CSS Profile, FAFSA, and tax documents). For the most accurate assessment, always complete the official financial aid applications.

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