If the idea of a Harvard education was out of reach financially, it may be back on the table.

The Ivy League school will offer free tuition to students whose families make less than $200,000 a year.

The free tuition plan goes into effect for the 2025-2026 school year and it was developed to make attending Harvard more affordable, especially for those who are considered middle-income.

The average household income in the U.S. is about $80,000.

“Putting Harvard within financial reach for more individuals widens the array of backgrounds, experiences, and perspectives that all of our students encounter, fostering their intellectual and personal growth,” Harvard University President Alan Garber said in a statement. “By bringing people of outstanding promise together to learn with and from one another, we truly realize the tremendous potential of the University.”

In addition to not having to pay tuition, students may also be eligible for financial aid to cover other costs.

For those whose families make less than $100,000, they will have no cost to attend with tuition and other expenses such as food and housing paid for.

It expands on the 2004 program Harvard Financial Aid Initiative which currently sets the free education threshold at $85,000.

Tuition for a year at Harvard College, the undergrad school at the university, is $56,500 but when you add housing, food and other expenses it balloons to $82,866 each year.

MIT, or Massachusetts Institute of Technology, also has a program where students whose families make less than $200,000 don’t have to pay tuition while those making less than $100,000 don’t have to pay any fees.

“The cost of college is a real concern for families across the board,” MIT President Sally Kornbluth said. “We’re determined to make this transformative educational experience available to the most talented students, whatever their financial circumstances. So, to every student out there who dreams of coming to MIT: Don’t let concerns about cost stand in your way.”

The University of Pennsylvania set the free tuition bar at $200,000 while the University of Texas is at $100,000.

The average cost of a private college in the U.S. is $43,000 a year.

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