How should I compare Northwestern and Harvard for financial aid value?

The better financial-aid value is the school that leaves your family with the lower realistic four-year cost after grants, not the one with the larger-looking award letter.

Put both offers into the same worksheet. Start with each school’s total billed cost for tuition, housing, food, and required fees; subtract only grants and scholarships that do not need to be repaid. Then add realistic non-billed costs, including travel from home, health insurance if needed, books, personal expenses, and any parent or student borrowing. Compare the resulting annual amount and multiply it by four, while noting whether either grant is explicitly renewable and what academic or enrollment requirements apply.

Pay close attention to the difference between the college’s calculated need and your family’s actual ability to pay. Harvard may calculate eligibility using its own institutional methodology, including income, savings, home equity, business ownership, and special circumstances. Northwestern’s calculation can differ even when both schools use the FAFSA and CSS Profile, so identical family finances can produce different net prices.

Also separate work-study from grant aid. Work-study can be useful spending money, but it is not an upfront discount and should not be treated as money your parents do not have to provide. If either package relies on federal loans or an unusually high summer-work expectation, include that in the comparison. If a package misses important circumstances such as medical bills, reduced income, support for relatives, or another child entering college, request a reconsideration with documentation before making the final decision.