In a significant move to expand access to higher education, Yale University announced on Tuesday that it will offer free tuition to incoming undergraduate students whose family income is below $200,000 annually. Moreover, for families earning less than $100,000, the prestigious institution will cover all educational expenses, including housing and meal plans.

“This strategic investment is central to our mission to educate exceptional students from all backgrounds,” stated Provost Scott Strobel. “The benefits are evident as these talented students enrich the Yale campus and go on to serve their communities after graduation.”

This revised financial aid structure will be implemented for students starting their studies this fall.

Previously, Yale had waived all expected costs for families earning under $75,000. By raising this threshold to $100,000, the university estimates that nearly half of American households with children aged 6 to 17 will now qualify for comprehensive financial support.

The university previously waived all expected costs — including housing and meal plan — for students from families earning less than $75,000 a year. But Yale said the move to raise the limit to $100,000 means nearly half of American households with children ages 6 to 17 will qualify for all education expenses being covered.

“I am thrilled that Yale is making this important investment in affordability,” Dean of Undergraduate Admissions and Financial Aid Jeremiah Quinlan said. “With this announcement, we reiterate and reinforce Yale’s commitment to ensuring that cost will never be a barrier between promising students and a Yale College education.”

Yale’s announcement comes after several prestigious universities made similar moves in recent years, including Harvard University, the University of Pennsylvania and the Massachusetts Institute of Technology.

Yale’s announcement comes after several prestigious universities made similar moves in recent years. (Joe Buglewicz/Bloomberg via Getty Images)

Last fall, Harvard revealed a nearly identical policy while Penn announced it would make tuition-free for families making less than $200,000 a year.

As it stands now, 56% of the undergraduate class at Yale receive need-based aid and 1,000 students qualify for a no-cost degree. The average grant for all students receiving aid in the current academic year is more than the annual cost of tuition. 

“Yale makes a special effort to support students with the greatest financial need,” said Kari DiFonzo, Yale’s director of undergraduate financial aid. “Beyond generous financial aid offers, Yale provides extra grants for students to purchase winter clothing, to pursue summer experiences abroad, and to respond to unexpected financial hardships.”

Yale said the average grant for all students receiving aid in the current academic year is more than the annual cost of tuition.  (Erica Denhoff/Icon Sportswire via Getty Images)

The total cost of attendance at Yale currently exceeds $90,000 for undergraduates.

“For more than 60 years, Yale has considered applicants without regard to their ability to pay and has provided scholarship support to meet families’ full financial needs,” Dean of Yale College Pericles Lewis said. “This approach has been instrumental in attracting the most talented, ambitious, and dynamic undergraduates to Yale.”