The expanded financial aid plan will also offer free tuition to families that make $200,000 or less. The move comes after affirmative action was barred from the admissions process.

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.

Harvard has waived tuition fees for lower-earning families for over two decades. It's now expanding the offering to families earning $200,000 or less a year.