Rice University announced a major expansion of its signature financial aid program on Monday, offering free tuition to students from families earning up to $200,000 annually.

By the numbers: Beginning with students entering in fall 2027, the expanded Rice Investment program will grant free tuition to students from families earning between $100,000 and $200,000 per year.

Students from families earning less than $100,000 annually will receive full coverage for tuition, mandatory fees, and room and board.