Harvard undergraduate tuition will be free for students from families making $200,000 or less, starting next fall, the university announced Monday in its latest effort to provide an Ivy League education to those who might otherwise be priced out.

The university’s new financial aid policy could make it more accessible than some public colleges for many families.

Harvard University, a private university founded in 1636, announced Monday that tuition, room and board will be free for students from families with annual incomes of $100,000 or less and tuition-free for students from families with annual incomes of $200,000 or less.