Starting in fall 2027, the University of Chicago will offer free tuition to students whose families earn less than $250,000 annually, “with typical assets,” the university announced Wednesday. Students from families with incomes less than $125,000 will have their housing, meals and fees covered as well.

The University of Chicago will guarantee free tuition starting in the fall of 2027 for undergraduate students from families with annual income less than $250,000.

Starting in fall 2027, the University of Chicago will offer free tuition to students whose families earn less than $250,000 annually, “with typical assets,” the university…