Free Tuition At Stanford For Families Making Less Than $100k
Personal Finance
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.
| Recent Posts | Recent Comments |
- pfstock: Are the interest rates listed under your taxable accounts cu...
- am: Do you put any value on your time? Or the possibility of ch...
- pfstock: First of all, thank you for visiting and commenting on my bl...
- Chuck: kathryn... its $10 off $25 but I believe its expired now, it...
- kathryn: Is it $10 off $50 or $10 off $25? The latter, if it ships f...
This is pretty incredible, considering the cost of a private university like Stanford. It is nice to see programs like this reach up to the $100k income range, where many families still struggle to make ends meet, especially with kids in college.
I wonder if the program is tiered. It sure would be a bummer to have to pay $30k in tuition, or whatever the amount is because you make $105k.