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Free College at Stanford.....wow.
February 20, 2008I found this juicy nugget of news online today...
Stanford Univ. will eliminate tuition for families making less than $100,000.
That's some kinda deal....
I think. It doesn't say if you have to still pay room/board (which still runs about $11,000). I'll have to dig around some more for this one.
PALO ALTO, Calif. (AP) -- Attending Stanford University next year will be a lot more affordable for some undergraduate students.
The university said Wednesday it plans to eliminate tuition for students with annual family incomes totaling less than $100,000. It also will pay most room and board for students with families making less than $60,000.
Financial aid director Karen Cooper says the move comes as middle-income parents express concern about paying for a Stanford education.
Stanford tuition is expected to rise to $36,000 in the fall. Room and board will cost about $11,000. About a third of the university's 6,700 undergraduates are expected to qualify for the tuition break.
Well... it didn't take long to find a better story....
Families earning less than $100,000 a year will no longer have to pay tuition for their sons and daughters attending Stanford, university officials announced today.
In addition, families earning less than $60,000 a year will no longer have to contribute to tuition, the costs of room and board or other expenses.
The new program also eliminates the need for student loans.
Current combined tuition and room and board for undergraduates is $45,606 a year, with the tuition being $34,800.
"We are committed to ensuring that Stanford ask parents and students to contribute only what they can afford for an education we believe is one of the best in the world," Stanford President John Hennessy said.
"By devoting more resources to financial aid, we seek to underscore what has long been the case -- that no high school senior should rule out applying to Stanford because of cost. We understand how families face serious financial pressures, and we are doing all we can to assist them."
Stanford will allocate $114 million to its financial aid program for the 2008-09 academic year. To help pay for the tuition assistance, the university is increasing its payout from its endowment to 5.5 percent. Stanford also plans to double the fund-raising goal of its current The Stanford Challenge campaign to $200 million.
Three of every four Stanford undergraduates now receive some sort of financial aid from the university.
There was no immediate estimate from Stanford officials of how many students will be affected by the changes in the tuition program. Stanford is one of the few private universities with a "needs-blind" admission policy, accepting students regardless of their ability to afford tuition.
"Although Stanford's tuition has gone up over the last five years, thanks to our increasingly generous financial aid program, families with incomes of less than $150,000 will find a Stanford education much more affordable than it was five years ago," Stanford Provost John Etchemendy said.
Posted by Jason Palmer at 02:54 PM | Permalink | Comments (1)
Comments
well i always wanted to be a doctor....
