Johns Hopkins University announced a sweeping financial-aid revision: undergraduates on the Homewood campus from families earning under $100,000 will have tuition, fees and living costs covered, and families up to $200,000 will pay no tuition. President Ron Daniels framed the change as an expansion of need-based aid built on transformative philanthropy, including Michael Bloomberg’s prior $1.8 billion gift. The policy takes effect spring 2026 for current eligible students and fall 2026 for new entrants. The move joins a wave of elite private universities offering broad tuition guarantees to blunt affordability concerns and strengthen socioeconomic diversity. Hopkins said most families with incomes up to $250,000 will continue to qualify for significant aid, and noted long-term donor commitments undergird the program. For financial officers, the change signals a recalibration of pricing strategy at selective private institutions to protect yield and access while managing endowment and fundraising reliance. Clarification: “Tuition guarantees” are institutional financial-aid policies that reduce or eliminate billed tuition for families below specified income thresholds, distinct from state tuition freezes or federal grants.