UW-Madison to offer free tuition to families making under $56,000

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The University of Wisconsin-Madison announced a new initiative that will grant four years of free tuition to students whose families earn less than $56,000 a year, reports the AP. "Becky's Tuition Promise" will take effect this fall.

Why it matters: UW officials estimate 800 students will take advantage of the pledge each year with a total annual cost of around $825,000, none of which will be funded by state tax dollars. The university joins six other Big Ten schools as well as several others around the country that offer similar programs.