Earlier this week, New York Governor Cuomo announced a groundbreaking new proposal that will provide free college tuition to any families or students in the state making less than $125,000 per year.

Though it still needs support from state lawmakers, the plan would include state universities, community colleges, and two-year programs. Once it is approved, the program will take effect incrementally over the next three years.

The state would provide funding for the tuition by boosting state and federal grant programs that already exist in New York. Current financial estimates for the program are ranging around $163 million, however that figure could vary depending on participation.

"College is a mandatory step if you really want to be a success," Cuomo said Tuesday, as The Washington Post reported. "And the way this society said we're going to pay for high school because you need high school, this society should say we're going to pay for college because you need college to be successful. And New York state is going to do something about it."

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