Standford University announced that it will be joining schools such as Harvard and Yale in the effort to reduce the tuition burden for middle class families by giving full financial aid to anyone whose family earns less than $100,000 a year.

The rising cost of tuition at private universities (frequently over $30,000 a year, not including room and board) often hits middle class families harder than most people realize. Families making a middle or upper middle-class income are usually ineligible for federal aid or tuition assistance from their school. According to the Project on Student Debt, students who take out loans during college have an average of $22,000 in debt upon graduating from a private university.

Experts say that this is part of major shift in what colleges consider to be the “needs” of middle class students. Unfortunately these generous admissions packages are only available for students attending schools with massive endowments, like the ivies and other long-standing institutions with generous alumni.

Hopefully, as endowments increase across the board, some of that wealth will trickle down to the people who need it most: students!