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University of Michigan football fans enter the stadium before the BYU game on September 26, 2015.
In an effort to increase access amid soaring tuition costs, the University of Michigan announced a new program that will make tuition free for in-state students who come from families that make $65,000 or less a year.
Dubbed the Go Blue Guarantee
, the program will cover the full cost of tuition for up to four years of full-time undergraduate study at the university's Ann Arbor campus — a value of about $60,000.
The program was announced by U-M on Thursday and goes into effect in January 2018. Additionally, the university approved a 2.9 percent increase for in-state undergraduates as well as a 4.5 percent increase for out-of-state students.
"What we're concerned about is that there are lots of talented kids, and we know they're out there, who are a bit afraid of taking that risk of applying to school and then not thinking they'll be able to afford it," U-M president Mark Schlissel says in a statement
. "So the notion is to tell them up front if you're talented and willing to work hard, regardless of what your family's income is, we will find a way to help you afford a spectacular college education."
According to U-M CIRP data
, in 2016 15.2 percent of incoming freshmen came from families that made $60,000 or less, while 24.5 percent came from families that made $250,000 0r more.
More information on the program is available at goblueguarantee.umich.edu