VIDEO: San Francisco will be first U.S. city to offer free college

SAN FRANCISCO (KGO) -- Mayor Ed Lee announced that the city will be the first in the nation to make City College free for all students, regardless of their income.

The money will come from an increase in the real estate transfer tax for commercial and residential properties valued at more than $5 million.

About 30,000 local students are expected to benefit from the funds.

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