Boston University Joins Push To Make College Tuition-Free
When considering going to college, most students today would likely agree that one of their biggest questions is ‘how much is this degree going to cost me?’
Recognizing this is the case, a number of universities are introducing initiatives to help lower the costs of earning a degree.
One such school is Boston University, which just announced a major development. The new BU Promise is a financial aid initiative that will make tuition free for eligible domestic first-year students from families earning less than $200,000 a year starting in the 2026-27 academic year.
BU’s listed tuition alone is $73,024, so this is a pretty remarkable promise all things considered. The university is essentially taking one of the biggest line items on a college bill and erasing it completely for thousands of families.
THE DETAILS BEHIND THE PROMISE
The details matter, because “free tuition” doesn’t necessarily mean the entire experience is compensated.
Students from families earning $75,000 or less, with typical assets, will have their tuition, standard housing and meal plan fully covered. Families earning between $75,001 and $100,000 will receive free tuition and have their remaining educational costs capped at $10,000 per year. For families making $100,001 to $150,000, tuition will be free and other costs will be capped at $15,000.
BU is joining what Forbes author Michael T. Nietzel says is a growing tuition arms race in higher education. Yale, Notre Dame, the University of Chicago, and Rice University have all expanded financial aid in recent years, with some now offering free tuition or covering additional costs for students from families earning as much as $250,000.
The exciting part is that universities are finding new ways to compete on value. Just like companies competing for customers, schools are thinking more carefully about what they can offer students for their money. A great education with significantly less debt is a pretty compelling offer.
Boston University President Melissa Gilliam says that at BU, they are committed to making sure all students who qualify to attend their school can attend. “Our community is enhanced by students from a wide range of backgrounds,” Gilliam says. “We actively strive to address affordability, debt at graduation, and careers, and the BU Promise is an important component in a student’s success. It is one less barrier to making a student and family’s dream of attending this university become a reality.”
Next Page: Gen Z Is Rethinking How to Pay For College
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