By Vimal Patel | The New York Times
The University of Chicago will provide free tuition to students of families earning less than $250,000 a year, creating one of the most generous financial-aid offers in the nation at a moment when lawmakers and parents are scrutinizing the value of a college degree.
Colleges have been in a race to raise the income limits for free tuition in recent years. The university’s announcement on Wednesday explained the move as a way to make an institution with a $98,000-per-year sticker price more accessible to students from modest backgrounds.
“By deepening our commitment to affordability, we are helping to ensure that the brightest minds can join us,” Paul Alivisatos, the university’s president, said in a statement.
Chicago joins Princeton in raising its threshold for tuition to $250,000. Other selective schools have raised their income limits for free tuition to $200,000 in recent years, including Harvard, the Massachusetts Institute of Technology and the University of Pennsylvania.
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