Harvard Net Price Calculator

Harvard Net Price Estimator

Estimate your potential out-of-pocket cost to attend Harvard University.

function calculateNetPrice() { var parentalAGI = parseFloat(document.getElementById("parentalAGI").value); var familySize = parseInt(document.getElementById("familySize").value); var numInCollege = parseInt(document.getElementById("numInCollege").value); var studentAssets = parseFloat(document.getElementById("studentAssets").value); // Validate inputs if (isNaN(parentalAGI) || parentalAGI < 0) { document.getElementById("result").innerHTML = "Please enter a valid Parental AGI."; return; } if (isNaN(familySize) || familySize < 1) { document.getElementById("result").innerHTML = "Please enter a valid Family Size (at least 1)."; return; } if (isNaN(numInCollege) || numInCollege familySize) { document.getElementById("result").innerHTML = "Please enter a valid Number of Dependents in College (at least 1 and not more than family size)."; return; } if (isNaN(studentAssets) || studentAssets < 0) { document.getElementById("result").innerHTML = "Please enter valid Student Assets."; return; } // Harvard's estimated Cost of Attendance (COA) for 2024-2025 (Tuition, Fees, Room, Board, Books, Personal Expenses) var costOfAttendance = 87000; // This is an illustrative figure, actual COA varies slightly year to year. // — Simplified Expected Family Contribution (EFC) Calculation — // 1. Parental Contribution from Income (PCI) var incomeThreshold1 = 85000; // Families below this often pay nothing var incomeThreshold2 = 180000; // Income bracket for moderate contribution var rate1 = 0.10; // Contribution rate for income between T1 and T2 var rate2 = 0.18; // Contribution rate for income above T2 var parentalContributionFromIncome = 0; if (parentalAGI incomeThreshold1 && parentalAGI incomeThreshold2 parentalContributionFromIncome = (incomeThreshold2 – incomeThreshold1) * rate1 + (parentalAGI – incomeThreshold2) * rate2; } // 2. Student Contribution (SC) var baseStudentContribution = 3000; // Expected from summer earnings var studentAssetContributionRate = 0.20; // 20% of student assets var maxStudentContribution = 5000; // Cap on student contribution var studentContribution = baseStudentContribution + (studentAssets * studentAssetContributionRate); studentContribution = Math.min(studentContribution, maxStudentContribution); // 3. Total Raw Expected Family Contribution (before dividing by number in college) var rawExpectedFamilyContribution = parentalContributionFromIncome + studentContribution; // 4. Adjust EFC based on number of dependents in college // The EFC is typically divided by the number of children attending college. var estimatedFamilyContribution = rawExpectedFamilyContribution / numInCollege; // Ensure EFC doesn't go below zero estimatedFamilyContribution = Math.max(0, estimatedFamilyContribution); // — Calculate Grant Aid and Net Price — var estimatedGrantAid = costOfAttendance – estimatedFamilyContribution; if (estimatedGrantAid < 0) { estimatedGrantAid = 0; // Cannot receive negative aid } var estimatedNetPrice = costOfAttendance – estimatedGrantAid; // Format currency var formatter = new Intl.NumberFormat('en-US', { style: 'currency', currency: 'USD', minimumFractionDigits: 0, maximumFractionDigits: 0, }); var resultHTML = "

Your Estimated Harvard Net Price:

"; resultHTML += "" + formatter.format(estimatedNetPrice) + ""; resultHTML += "Based on your inputs, here's a breakdown of the estimate:"; resultHTML += "

"; resultHTML += "
• Estimated Cost of Attendance: " + formatter.format(costOfAttendance) + "
"; resultHTML += "
• Estimated Family Contribution: " + formatter.format(estimatedFamilyContribution) + "
"; resultHTML += "
• Estimated Grant Aid: " + formatter.format(estimatedGrantAid) + "
"; resultHTML += "

"; resultHTML += "This is an estimate based on a simplified model and does not guarantee actual financial aid. Harvard's official net price calculator or financial aid office can provide a more precise figure."; document.getElementById("result").innerHTML = resultHTML; }

Understanding the Harvard Net Price Calculator

Attending a prestigious institution like Harvard University is a dream for many, but the sticker price can often seem daunting. This is where a Net Price Calculator becomes an invaluable tool. Unlike a loan calculator that estimates debt, a Net Price Calculator provides an estimate of what you might actually pay out-of-pocket for one year of college, after factoring in grants and scholarships.

What is Net Price?

The "Net Price" is the Cost of Attendance (COA) minus any grant aid (scholarships and grants that do not need to be repaid). It represents the amount a student and their family are expected to contribute towards their education for a given year. It does not include loans, which must be repaid.

Harvard's Generous Financial Aid Philosophy

Harvard is renowned for its commitment to making education accessible to all admitted students, regardless of their financial background. Their financial aid program is entirely need-based, meaning aid is determined solely by a family's financial circumstances, not by academic merit or athletic ability. Key aspects of Harvard's aid include:

• No Loans: Harvard's financial aid packages do not include loans. Instead, they are comprised entirely of grants and scholarships, which do not need to be repaid.
• Generous Income Thresholds: Families with parental Adjusted Gross Income (AGI) below certain thresholds (e.g., often around $85,000) are typically expected to pay nothing towards their child's education.
• Sliding Scale Contributions: For families with higher incomes, the expected contribution is calculated on a sliding scale, ensuring that aid is provided to a wide range of income levels.
• Assets Considered, but Generously: While assets are considered, Harvard often does not count the equity in a family's primary home and has generous allowances for retirement savings.

Factors Influencing Your Harvard Net Price Estimate

Our simplified calculator takes into account several key factors to provide an estimate:

• Parental Adjusted Gross Income (AGI): This is the most significant factor. Harvard uses your family's income to determine your capacity to pay.
• Total Number of Dependents in Household: A larger family size generally indicates a lower ability to pay, potentially leading to more grant aid.
• Number of Dependents in Undergraduate College: If you have multiple children enrolled in undergraduate programs simultaneously, the Expected Family Contribution (EFC) is typically divided among them, reducing the cost for each student.
• Student's Total Assets: Students are generally expected to contribute a small amount from their savings and summer earnings.

How Our Calculator Works (Simplified Model)

This calculator provides an estimate based on a simplified model of Harvard's financial aid methodology. It starts with an estimated Cost of Attendance (COA) for an academic year, which includes tuition, fees, room, board, books, and personal expenses. It then estimates your Expected Family Contribution (EFC) based on your parental income, family size, and student assets. The estimated grant aid is calculated by subtracting your EFC from the COA. Your Net Price is then the COA minus this estimated grant aid.

Please note: This calculator is designed to give you a general idea of potential costs. Harvard's actual financial aid calculation is more complex, involving detailed analysis of tax returns, assets, and other financial information through the FAFSA and CSS Profile. For a precise and personalized estimate, you should use Harvard's official Net Price Calculator on their financial aid website.

Example Scenarios:

Let's look at a few realistic examples using our calculator's logic (assuming a COA of $87,000):

Example 1: Lower Income Family

• Parental AGI: $70,000
• Family Size: 4
• Number in College: 1
• Student Assets: $1,000
• Estimated Net Price: Approximately $0 – $3,000
• Explanation: With an AGI below Harvard's typical threshold, the family contribution from income is minimal or zero. The student's small asset contribution might be the only expected cost, which is often covered by work-study or small grants.

Example 2: Moderate Income Family

• Parental AGI: $120,000
• Family Size: 4
• Number in College: 1
• Student Assets: $5,000
• Estimated Net Price: Approximately $10,000 – $15,000
• Explanation: For this income level, a portion of the income is expected to contribute, plus the student's contribution. Harvard's generous grants still cover a significant portion of the COA.

Example 3: Higher Income Family with Multiple Children in College

• Parental AGI: $200,000
• Family Size: 5
• Number in College: 2
• Student Assets: $8,000
• Estimated Net Price: Approximately $25,000 – $35,000 per student
• Explanation: Even with a higher income, having two children in college significantly reduces the EFC per student. Harvard still provides substantial grant aid, making the net price considerably lower than the sticker price.

Use the calculator above to get your personalized estimate and take the first step in understanding the affordability of a Harvard education!