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Stanford Now Free To All Students From Families Earning Less Than $125K Per Year
Posted on 3/5/17 at 11:08 am
Posted on 3/5/17 at 11:08 am
quote:
Last week, Stanford University announced that more accepted students won’t have to pay anything for tuition, which normally runs nearly $46,000 a year.
Students whose families make less than $125,000 a year and have assets worth $300,000 or less, including home equity but excluding anything that they have saved in retirement accounts, won’t have to pay tuition. Students whose families make less than $65,000 also won’t have to pay for room and board, which can run about another $14,100. Scholarships or grants will cover the costs instead, and the school has a $21 billion endowment. The thresholds were previously $100,000 for free tuition and $60,000 for free room and board.
Students will still have to contribute at least $5,000 a year from part-time work during the school year, working during the summer, and/or savings.
“Our highest priority is that Stanford remain affordable and accessible to the most talented students, regardless of their financial circumstances,” said Provost John Etchemendy in a press release. “Our generous financial aid program accomplishes that, and these enhancements will help even more families, including those in the middle class, afford Stanford without going into debt.” The school says that 77 percent of undergraduates leave without student debt.
That makes Stanford graduates somewhat unique, as about 70 percent graduate with debt, owing an average of $29,000 at the end of last year. Student loan debt has tripled over the last decade.
Meanwhile, nearly a third of those who have started to pay back the loans are more than three months behind on payments.
LINK
This post was edited on 3/5/17 at 11:19 am
Posted on 3/5/17 at 11:09 am to Street Hawk
I remembered Harvard doing something like that as well. Good for them.
Posted on 3/5/17 at 11:10 am to Street Hawk
Why cant I just emancipate myself and claim I am poor as shite?
Posted on 3/5/17 at 11:11 am to Street Hawk
But you still have to go to school with this as your fricking mascot.
Posted on 3/5/17 at 11:12 am to Street Hawk
quote:
Earning Less Than $125K Per Year
Well, I guess I'm screwed.
Posted on 3/5/17 at 11:12 am to Street Hawk
Hey, as long as it's from their endowment and not on the backs of tax payers more power to them
Posted on 3/5/17 at 11:12 am to Street Hawk
Damn, lsu fricked me lol
Posted on 3/5/17 at 11:17 am to GEAUXT
quote:
Hey, as long as it's from their endowment and not on the backs of tax payers more power to them
This
Posted on 3/5/17 at 11:18 am to Street Hawk
What percentage of their students fit this criteria?
Posted on 3/5/17 at 11:19 am to Street Hawk
Nice program. I know Yale does the same and many Ivy Leagues have something similar.
Poor will get in free. Upper class has the assets and cash flow. But, it kills the middle to upper middle class. They end up with paying a large majority of the cost through debt. $60k x 4 is a lot. The vast majority of the middle class will pass on the opportunity to attend.
What you get is a student body of upper income and dirt poor. Socialist dream.
Poor will get in free. Upper class has the assets and cash flow. But, it kills the middle to upper middle class. They end up with paying a large majority of the cost through debt. $60k x 4 is a lot. The vast majority of the middle class will pass on the opportunity to attend.
What you get is a student body of upper income and dirt poor. Socialist dream.
Posted on 3/5/17 at 11:20 am to Street Hawk
This article is from April 2 2015. Is there any update on this since it rolled out?
Posted on 3/5/17 at 11:22 am to Scooba
Probably one of the best pictures I've ever seen.
Posted on 3/5/17 at 11:25 am to Street Hawk
quote:Tricky way so they can say tuition is free, and it sounds much better than saying reduced tuition of $5k per year.
Students will still have to contribute at least $5,000 a year from part-time work during the school year, working during the summer, and/or savings.
Still a great deal though.
Posted on 3/5/17 at 11:26 am to Street Hawk
Once again, fricking the middle class. Someone making 125k a year with 300k in assets cannot afford 50k a year for college. It's their money so they can do what they want with it but America likes to hold the middle class down.
Posted on 3/5/17 at 11:38 am to Street Hawk
quote:
Students whose families make less than $125,000 a year and have assets worth $300,000 or less, including home equity but excluding anything that they have saved in retirement accounts, won’t have to pay tuition
Harvard does not include home equity, or retirement accounts in determining financial aid need, but most families do pay something based on their income though greatly reduced from full cost.
LINK
•20% of our parents have total incomes less than $65,000 and are not expected to contribute.
•Families with incomes between $65,000 and $150,000 will contribute from 0-10% of their income, and those with incomes above $150,000 will be asked to pay proportionately more than 10%, based on their individual circumstances. Families at all income levels who have significant assets will continue to pay more than those in less fortunate circumstances.
•Home equity and retirement assets are not
considered in our assessment of financial need.
Posted on 3/5/17 at 11:41 am to Street Hawk
quote:
Students whose families make less than $125,000 a year
MY KID IS GOING TO STANFORD!!!!
quote:
have assets worth $300,000 or less
shite.
Posted on 3/5/17 at 11:43 am to BigPerm30
quote:
Once again, fricking the middle class.
It's Stanford, not some bullshite Tulane degree. I would happily rack up $150-$200k in student loan debt for a Stanford diploma.
This is if my parents were somehow smart enough to earn $126k/year but dumb enough not to save for my college at all.
This post was edited on 3/5/17 at 11:51 am
Posted on 3/5/17 at 11:43 am to Street Hawk
300k equity on a home in California is nothing. I'm not going to tell them what to do with their money but a working class family who has been paying their home off for 20 years out there still isn't going to be able to pay for Stanford
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