Harvard will now be completely free for students from families with incomes under $100,000, the university said on Monday, as part of a significant financial aid expansion. Why it matters: Harvard is under a hiring freeze and scrutiny from the federal government that could lead to funding cuts.

Harvard University announced Monday it will offer free tuition to students from families earning up to $200,000 annually, a dramatic expansion from its previous $85,000 threshold. The Ivy League institution joins several elite schools making similar moves following last year's Supreme Court decision banning race-conscious admissions.