Yale slashes tuition for lower income families

NY Times -  Yale University said on Tuesday that attending the university would be free for newly admitted undergraduate students from families with annual incomes below $100,000, and that tuition would be waived for those earning below $200,000. The change takes effect for the class that will enroll in the fall.

The move enters Yale into an arms race of elite institutions offering increasingly attractive financial aid packages to students from low- and middle-income families. At Yale, the full-price cost to attend is now more than $90,000 a year.

Yale’s new policy essentially matches the deal offered by Harvard last year, which followed similar announcements by the University of Pennsylvania, the Massachusetts Institute of Technology, Princeton and others.