Harvard College tuition and fees will climb 3.8 percent for the next academic year, reaching a total cost of $52,650.

The jump in price will be coupled with a $2 million increase in the financial aid budget, bringing the total cost of financial aid to a record high of more than $160 million.

Already, more than 60 percent of Harvard undergraduates receive some financial aid from the College.

At the same time that the College announced next year’s tuition price, it revealed plans to bring back the early action admissions program which it cut four years ago out of concerns that it disadvantaged low-income students. Today’s announcement affirmed, however, that the Harvard Financial Aid Initiative—another hallmark of the Office of Admissions and Financial Aid’s push to increase college accessibility and affordability—remains on solid ground for the next year.

Under the financial aid initiative, families that earn less than $60,000 per year pay no tuition to send students to Harvard. Students whose families earn up to $180,000 are typically asked to pay no more than 10 percent of the family’s income.

The percent increase in tuition matches last year’s increase exactly.

—Staff writer Julie M. Zauzmer can be reached at jzauzmer@college.harvard.edu.