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How much money will Harvard lose if Trump’s international student ban sticks?

Diana Paluteder

The Trump administration has stripped Harvard University of its ability to enroll international students, a move that threatens to deliver a major financial blow to the Ivy League school.

Homeland Security Secretary Kristi Noem announced the revocation of Harvard’s certification under the Student and Exchange Visitor Program (SEVP), escalating the administration’s broader campaign against elite academic institutions. The decision bars Harvard from accepting students on F-1 and J-1 visas for the 2025–2026 academic year.

Current international students at Harvard have been ordered to transfer to another institution or face losing their legal status in the U.S.

Noem accused Harvard of “fostering violence, antisemitism, and coordinating with the Chinese Communist Party, “claims the university vehemently denies. Harvard has responded by calling the decision unlawful and retaliatory, pledging full support for its international student community.

Hundreds of millions in lost revenue 

Harvard isn’t just losing part of its student body—it’s losing a major source of revenue. International students accounted for roughly 27% of total enrollment in the 2024–2025 academic year, totaling 6,793 students

Though tuition is the same for all students, international enrollees typically bring in more money. Harvard offers need-based financial aid to all admitted students, but far fewer international students qualify. While 55% of U.S. students receive aid, only about 20% of international students do (according to the university’s Common Data Set (CDS) for the 2022–2023 academic year), leaving the majority to pay the full cost of attendance.

Harvard’s total cost of attendance, including tuition, fees, room, and board, comes to roughly $86,926 per year. Assuming around 80% of the university’s nearly 6,800 international students pay full price (a reasonable estimate, given lower rates of financial aid among foreign enrollees), that’s approximately 5,440 students contributing the full amount. Multiply that out, and Harvard could be looking at more than $470 million in lost annual revenue if international enrollment is halted.

Note that the figure doesn’t include:

  • International students paying for graduate and professional programs (often higher tuition)
  • Ancillary revenue (e.g., summer programs, donations, housing extensions, dining, etc.)
  • Long-term alumni contributions

Disclaimer: This revenue estimate is based on public tuition data and enrollment figures. It does not account for program-specific costs, endowment offsets, or nuanced financial aid scenarios. The actual financial impact could be significantly higher.

Recent federal actions affecting the university

The ban on international students isn’t the only pressure point. Over the past several weeks, the Trump administration has:

Harvard has sued to reverse the cuts and called the demands unconstitutional and punitive. In a statement, Harvard President Alan Garber emphasized the university’s stance:

“No government—regardless of which party is in power—should dictate what private universities can teach, whom they can admit and hire, and which areas of study and inquiry they can pursue.”

Featured image via Shutterstock.

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