In a new move, prestigious Stanford University has decided not to charge tuition to students whose families earn less than $100k a year.

This move is largely because the university’s endowment fund is exploding and currently stands at $17.1 billion – a 22 percent increase from just last year. They have been getting some scrutiny for this and have decided to spend some of this money on lowering tuition for poorer families.

Not sure if more high profile universities with large endowment funds will be following suit, but it certainly will help some lower income families who have been unable to keep up with the sky rocking costs of tuition. At Stanford the cost of tuition has risen 63% over the last 10 years. That is 2x the rate inflation has risen prices over the same time period.

From the San Fransisco Chronicle:

In a radical change to its financial aid program, Stanford University will announce today that it will no longer charge tuition to students whose families earn less than $100,000 a year.

In addition, the university will waive room and board fees for students whose families earn less than $60,000 a year.

Full Article: Stanford Drops Tuition For Some Students

Popularity: 1% [?]