Is Harvard considered a nonprofit college?

Harvard is indeed a nonprofit university. The key idea behind being a nonprofit means that the school’s main goal isn’t to make money for owners or shareholders, but instead to serve its educational mission. Nonprofits like Harvard reinvest any extra money they make—such as from tuition, donations, research grants, or their endowment—straight back into the university. This could be through improving facilities, developing new programs, providing financial aid, or supporting research.

Harvard’s massive endowment (over $50 billion) helps support these goals. The endowment acts like a huge investment fund where returns are used to fund things across campus, especially financial aid. So, being a nonprofit directly affects how the school operates. For example, Harvard spends a significant portion of its endowment income on scholarships and aid to keep attendance more affordable for students from a wider range of backgrounds.

If you’re applying for financial aid or scholarships, Harvard’s nonprofit status is actually a big advantage. Nonprofits are required by law to use resources for the benefit of their educational mission and students. That’s partly why Ivy League schools like Harvard are able to offer generous need-based aid: they don’t have to pay out profits to private owners.

A good way to think of it: Harvard doesn’t exist to make rich people richer. Instead, it’s set up to improve education and research, and to make its resources—like financial aid—accessible to students based on academic merit and financial need.

For more info, you might check out the Department of Education’s pages on nonprofit colleges, and Harvard’s own financial aid website (https://college.harvard.edu/financial-aid). Nonprofit status is mentioned in lots of college guidebooks too. You can also look up the IRS 501(c)(3) designation, which is the technical term for educational nonprofits in the US.