NEW HAVEN, CT — Yale University has announced it will offer free tuition to families that make less than $200,000.

The change will go into effect for students entering in the fall, when tuition will be $72,500 dollars.

Students whose families make less than $100,000 also won’t have to pay for room and board, books, or any fees.

Those students who take up the offer, apply, and get accepted, could save about $98,000 a year.

Harvard University and MIT have offered similar deals.