Think the cost of a college education has gotten out of hand? Top schools are commanding $50,000 a year or more to attend.
Then consider Stanford, one of the best educations out there.
The California school normally would cost a student’s family around $60,000 annually, including room and board.
But, for families with annual incomes of less than $125,000 and typical assets, no parental contribution is expected toward tuition in 2015-16, the school announced. That’s up from $100,000.
And for families with annual incomes of less than $65,000 and typical assets, there’s no required parental contribution for tuition or room and board. That’s up from $60,000.
Free, if you qualify, in other words.
“Stanford has long been committed to need-blind admissions for U.S. students, supported by a financial aid program that meets the demonstrated financial need of all admitted undergraduate students,” the school said in a statement.
“Our highest priority is that Stanford remain affordable and accessible to the most talented students, regardless of their financial circumstances,” said Provost John Etchemendy.
Students are expected to contribute to their educational expenses, however, using summer job savings and other income to pay at least $5,000 a year. They are not expected to take out loans to do so, though.
The school says three in four of its graduates leave without any student debt.
All that said, a student still has to get into Stanford. That’s not easy.
For the class of 2019, the school offered admission to 2,144 students. They were selected from 42,487 candidates, the largest applicant pool in Stanford’s history.
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