Washington University in St. Louis will provide a free education to any student from Missouri or southern Illinois whose family income is under $75,000.
Andrew Martin, the university's new chancellor, announced the program on Thursday during his inaugural address, the St. Louis Post-Dispatch reported.
The program, called the WashU Pledge, begins next fall. It will pay the tuition, room and board costs for full-time undergraduates who meet the financial requirements.
About 250 qualifying students who are already enrolled will also receive the award package. The university said the package is valued at about $75,000 annually.
"When all individuals have the same opportunities to thrive and flourish, all of us serve to benefit," Martin said.