In a growing trend, several colleges and universities are expanding access to higher education by offering free tuition for undergraduate students from lower-income families. Programs vary by institution but are funded through grants and scholarships, not loans. For eligibility, family income must typically fall below a specified threshold, and asset evaluations are changing, as seen at institutions like the University of Pennsylvania that no longer count primary home value. More than a hundred schools now provide this crucial support.
The University of Texas system and the Massachusetts Institute of Technology are part of a significant shift toward making higher education more accessible. These institutions are announcing initiatives to eliminate tuition costs for students from families below a specified income level. Particularly noteworthy is the adjustment of asset evaluation criteria; for example, the University of Pennsylvania's decision to stop counting the value of a family's primary home as an asset significantly reflects a broader understanding of financial need.
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