The allure of a Harvard graduate degree is undeniable, but for many students, the financial commitment can be challenging. As you may know, Harvard offers undergraduate degrees at Harvard College and Graduate education at Harvard University.
Let’s delve into the cost components specifically for graduate students, equipping you with the information needed to navigate the financial landscape of a Harvard graduate education.
Harvard University Cost: Tuition Fees
Unlike undergraduate programs with a flat tuition rate, graduate program costs at Harvard vary considerably. For the 2023-2024 academic year, expect tuition fees to range between USD$30,000 and $56,000 (AUD$45,000 – $85,000) depending on your chosen program. There are 14 different Schools at Harvard and each specific program has a different cost.
For example, while Harvard Griffin Graduate School of Arts and Sciences tuition fee is $55,656, the annual tuition fee for full time students of Harvard Graduate School of Education is $60,102.
Harvard’s Financial Aid
Harvard offers scholarships and grants for students who need financial aid. There is a financial aid office at each School at Harvard. To find out more, visit the financial aid website of the school you will be planning to attend.
External funding is also a possibility. Spark Finance offers a tuition loan product tailored especially for international students. Please see more information about options for Australian and New Zealand students looking to study at Harvard in our FAQs about student loans. You can also apply now.
Cost of Living in Harvard
The high cost of living in Harvard remains a factor for graduate students. On-campus housing options are limited for graduate students, so budgeting for off-campus rent is essential. Expect to spend between $1,500 and $3,000 per month, depending on location and amenities.
Housing Options and Considerations
While on-campus housing might offer convenience, exploring off-campus options often provides more flexibility and potentially lower costs. Consider factors like commute time and proximity to program resources when making your decision.
Health Insurance and Medical Costs
Health insurance remains mandatory for all students at Harvard. The university offers student health plans, but it’s wise to research additional coverage options to ensure you’re adequately protected. Budgeting for potential medical costs is also recommended.
Course Materials and Research Expenses
The cost of textbooks and research materials can vary depending on your program. Be prepared to allocate around $1,000 to $2,000 per year for these essentials. Exploring used book options or digital rentals can help manage these costs. Remember, research-focused programs might incur additional costs for lab fees or specialised equipment.
Transportation Considerations
While Harvard’s campus is walkable, getting around Boston might require a transportation pass or using public transportation options. Factor in these costs when planning your budget.
Living on a Budget
Many graduate students juggle studies with work or assistantships to manage living expenses. Harvard offers resources and workshops to help students budget effectively and explore financial aid options.
The Investment in Your Future
A Harvard graduate degree represents a significant financial investment. However, the potential return on investment can be substantial. The quality of education, access to world-renowned faculty, and the prestige associated with a Harvard degree can lead to increased earning potential and career advancement opportunities.
By carefully considering the financial components and exploring all available funding avenues, the dream of obtaining a Harvard graduate degree becomes a more achievable reality.
