Microsoft offers a data egress waiver for customers who have an enrollment in Education Solutions (EES) agreement. Cornell has such an agreement and all campus customers who have an Azure subscription under the campus agreement automatically receive this benefit. Customers using Azure Zone 1 and 2 data centers qualify for the offer. Internet egress charges are waived for up to 15% of the campus's total monthly Azure consumption bill. Please note that ExpressRoute charges will still apply and do not qualify for the waiver.
The official announcement is at the azure.microsoft.com blog post below. Any updates will be posted directly there from the Product/Business group.
https://azure.microsoft.com/en-us/blog/azure-egress-fee-waiver-for-the-academic-community/
The blog below is an announcement of the waiver :