What types of scholarships does Harvard offer?

I'm a junior in high school and starting to look into different colleges. I've heard some conflicting information about whether Harvard offers scholarships. Can anyone clarify what types of financial aid or scholarships are available for students who are admitted to Harvard? I’m especially interested in knowing if they're based on merit or need, and how competitive they might be to receive.

Harvard University offers need-based scholarships, not merit-based scholarships. This means that your financial assistance will be determined by the financial needs of your family, not your academic or extracurricular achievements.

The generous need-based financial aid policy at Harvard seeks to ensure that admitted students can afford to attend, regardless of their family's financial resources. And, in fact, more than 70% of their students receive some form of aid.

The financial aid policy includes a few highlights. For instance, families with an annual income less than $65,000 are not expected to contribute to college costs. Families with incomes between $65,000 and $150,000 will contribute from 0-10% of their income, and those with incomes above $150,000 are still eligible for financial aid.

These scholarships are not competitive in the sense that you might be thinking. If you are admitted and your family demonstrates financial need, you will be provided with a financial aid package that ensures you can afford to attend Harvard.

To apply for need-based scholarships, you should complete the Free Application for Federal Student Aid (FAFSA) and the College Scholarship Service (CSS) Profile.

Keep in mind also that Harvard's financial aid packages do not include loans, meaning that all the aid you receive is effectively a scholarship that you do not need to repay. The aim is for students to be able to graduate debt-free, which is a highlight of Harvard's financial aid system.