A free college education is unheard of these days but Antioch College in Yellow Springs, Ohio, is giving $106,000 worth of education to its students for free.

According to CBS, Antioch College, a private liberal arts college, is waiving the tuition for all its students who enroll in the next three years. The value of the free tuition for the current year is said to be $26,500. The scholarship, based on that price, would means that each scholarship will be worth approximately $106,000, according to the report.

On Saturday morning, the college's Web site was unavailable because of the large number of traffic flooding the site.

Thank you for your interest in Antioch College.Due to increased site traffic associated with the recent announcement regarding full-tuition Horace Mann Fellowships, our website is currently unavailable, a message on th site read.

The CBS report also noted that some students who file financial aid applications will get an even greater price break because if the qualify, they may not pay room and board charges or pay at a reduced price. Room and board at Antioch College is said to cost $8,628.

Why the free education?

Years of decline forced Antioch College, which was founded by abolitionists in 1850, to shutdown in 2008 after years of decline. It is the financial support from the school's alumni that has caused rebirth. Thirty-five students were welcome into its inaugural freshmen class last year, CBS reported, and the college hopes to have 65 to 75 students this fall. Antioch College's goal is to have an attendance of 300 students by 2015.

How to Apply

The college said it is working to get the Web site back online but in the meantime prospective students can apply at https://apply.antiochcollege.org/. They can also send the college a message through its Facebook page at www.facebook.com/antiochcollege or e-mail the Office of Admission at admission@antiochcollege.org.