Unreal Engine 4 Is Now Free

The internet is ablaze with the news that Unreal Engine 4 is now completely free to download and use. I have attached Epic Games own statement below to explain the situation better.

Epic Games is committed to supporting students and schools, and helping companies that license Unreal Engine 4 find and hire qualified developers.
Free to use, Unreal Engine 4 can be downloaded and installed to classroom computers as well as student home systems at no cost. With full access to the complete source code and tools, Unreal Engine 4 levels the playing field to give everyone the resources needed to learn professional-quality development.
In addition, schools and their students receive regular updates, making it easy to stay current with the latest and greatest in game development.
With UE4, student developers have unprecedented opportunities to use the skills they learn in class on their own projects at no cost. Launch of commercial products is still subject to the 5% royalty.

This is amazing news for educators and students alike as it levels the playing field and provides industry standard resources to all. For an idea of what people can create with this engine check out the GDC Unreal Engine Promo Reel below.

Tim Sweeney, founder of Epic Games stated that "We succeed only when you succeed" and that sounds about right, with 5% royalty on commercially made products this is a massive game changer for the industry. I'm very excited to have a go at it!