By James O’Toole, CNNMoney

NEW YORK (CNNMoney) – Always wanted to take a Harvard class? Soon you’ll be able to do so from the comfort of your own home.

Harvard and MIT announced a partnership Wednesday to offer free online courses to students around the world. The initiative, known as edX, will be run by a non-profit organization controlled by the two schools. Each has committed $30 million to the effort.

The first official courses will be announced this summer and are set to begin in the fall.

EdX students won’t receive university credit for the classes, which will span a variety of disciplines. There’s no admissions process, but there are exams and other assessments, with certificates available “for a modest fee” to students who demonstrate mastery of the material.