For Harvard, at least, looks like there won't be any more need for the U.S. taxpayer to subsidize student loans...

That's because Harvard University will eliminate tuition for students from families earning $200,000 or less, aiming to expand access amid political scrutiny. Families making $100,000 or less will also receive free housing and meals, according to Bloomberg.

Similar initiatives were recently launched at the University of Pennsylvania and MIT as elite college costs surpass $90,000 annually. Harvard President Alan Garber said the move will “widen the array of backgrounds, experiences, and perspectives” students encounter.

Starting in 2025-26, the program will extend aid to about 86% of U.S. families, up from the current tuition-free threshold of $85,000.

Bloomberg writes that lawmakers are pushing to tax endowments, with Vice President JD Vance calling them “cancers on American society.” Harvard, which relies on its $53 billion endowment for financial aid, has responded with a hiring freeze as it assesses federal policy changes.

Tuition is about $57,000 annually, but over half of students receive aid. As college costs rise and student debt burdens grow, families are questioning the value of elite degrees. Schools like Penn and MIT are expanding aid—Penn no longer factors home equity into aid decisions and raised its full-tuition threshold to $200,000, while MIT will cover full costs for families earning under $100,000.

Harvard previously required families making up to $150,000 to contribute 10% of income but will now boost aid for those above $200,000 “depending on individual circumstances.”

William Fitzsimmons, Harvard’s dean of admissions and financial aid, concluded: “We know the most talented students come from different socioeconomic backgrounds and experiences, from every state and around the globe."