For a lot of college students, making ready for post-Harvard life — paying for graduate college check prep or touring to a job interview, for instance — will be daunting. A brand new “launch grant” will present assist to nearly 1 / 4 of scholars navigating these prices.

College students with zero father or mother contribution — these whose annual household revenue is $85,000 or much less — will now obtain a $2,000 launch grant within the fall of their junior 12 months. For this 12 months solely, the grant can even be given to seniors who meet the factors.

“As we put together our college students for lives of which means and function after Harvard, we would like them to know that no dream is simply too huge,” mentioned Edgerley Household Dean of the School of Arts and Sciences Hopi Hoekstra. “Our alumni are leaders throughout all sectors and across the globe. Giving our college students each alternative to comply with the place their passions lead them, to make their distinctive contribution to the world, is a vital funding in Harvard’s international impression.”

The launch grant is the newest enlargement of Harvard’s strong funding in monetary assist. Harvard has awarded greater than $3 billion to undergraduates since launching the Harvard Monetary Help Initiative in 2004. In 2016, the Griffin Monetary Help Workplace introduced the institution of a start-up grant for incoming first-years with zero father or mother contribution. At present, these college students obtain $2,000 firstly of their time as an undergraduate to fulfill the extra hidden prices they face of their transition to Harvard.

2023 monetary assist information

• 24% of undergraduates come from a household whose annual revenue is $85,000 or much less.
• $0 anticipated household contribution for households with incomes beneath $85,000.
• 55% of Harvard undergraduates obtain monetary assist.
• Over 80% of the Class of 2023 graduated debt-free.
• $3 billion-plus in undergraduate monetary assist has been awarded since launching the Harvard Monetary Help Initiative.
• 200% improve within the undergraduate monetary assist finances from $80 million in 2005 to $246 million in 2023.

“The Monetary Help Workplace is constant to take away obstacles for college kids to allow them to take full benefit of all that Harvard has to supply, each throughout Harvard and as they put together for all times after Harvard,” mentioned Jake Kaufmann, Griffin Director of Monetary Help.

The launch grant goals to supply extra assist to extremely aided college students to buy skilled garments or attend a networking convention, nonetheless, there is no such thing as a restriction on use for the grant, which was made attainable by a number of donors. Paul B. Edgerley, M.B.A. ’83, and Sandra M. Edgerley ’84, M.B.A. ’89, longstanding supporters of the College and champions of economic assist, have been the primary to supply substantial and early assist for this system. The cumulative generosity of the Edgerleys, together with John Irving ’83, M.B.A. ’89, and Elizabeth Irving, Jonathan C. Korngold ’96, M.B.A. ’01, and Kristy Korngold, and two nameless donors, will present expanded monetary assist to college students in a key transitional second of their Harvard journey.

“The launch grant is important to Harvard’s dedication to serving to college students totally have interaction with their tutorial and post-Harvard careers. It’s going to permit college students with need-based bills to pay for check prep, journey, and different constraints that make it tough to take full benefit of alternatives to pursue one’s calling,” mentioned Danoff Dean of Harvard School Rakesh Khurana. “By increasing assist of our college students’ monetary wants, we hope to foster the circumstances vital for his or her post-Harvard life.”

“The objective is to ensure each good thing about the Harvard expertise is ready to be realized by each scholar. When entry to these advantages is influenced by a scholar’s monetary sources and talent, we wish to attempt to offset that in some significant manner,” Mignone Middle for Profession Success Director Manny Contomanolis mentioned. “This program is basically designed to assist decrease these monetary obstacles for college kids and assist them take part totally within the wonderful Harvard expertise.”

Harmless Munai ’25, known as the launch grant “a lifeline” and feels extremely empowered to have the assist for skilled and private improvement.

“Coming from Tanzania, East Africa, and being on full monetary assist right here, each alternative like this represents extra than simply monetary assist; it embodies hope, validation, and a reminder that my desires and aspirations are acknowledged, valued, and supported, and it ignites an excellent stronger need to excel and provides again to the neighborhood,” Munai mentioned.

Classmate Maryam Guerrab ’25 hopes to make use of the launch grant to partially finance future service alternatives each within the U.S. and overseas, in addition to pay for check prep supplies for the Medical School Admission Take a look at.

Mentioned Guerrab, who’s concentrating in authorities with a secondary in international well being and a quotation in Arabic:

“The launch grant is extremely necessary for low-income college students so as to restrict the monetary burden we expertise as college students and reduce the inequity in alternative between college students of various socioeconomic lessons.”