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Governor Gretchen Whitmer signed a $250 million financial aid bill for Michigan college students, The Detroit News reported Tuesday.

The bipartisan legislation establishes the Michigan Achievement Scholarship, which aims to reduce student tuition costs by as much as $5,500 a year for up to five years. It applies to students whose families are expected to contribute payments of $25,000 or less—making roughly 75 percent of the state’s students eligible, according to The Detroit News.

The aid may be used at public, private, tribal and community colleges and will become available for high school graduates beginning in 2023.

Daniel Hurley, CEO of the Michigan Association of State Universities, called it a “large-dollar scholarship that is going to affect students well into the middle class” and that will have “a very meaningful impact on reducing costs” throughout the state.

“The word that has been echoing throughout the day today is ‘game changer,’ and it is exactly that,” Hurley said.