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Stanford is free to students whose families make less than$$

sfgate.com — 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.

Who dugg this? Made popular Feb 21, 2008

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  • Stupidumb, on 02/21/2008, -9/+849*****, my family makes 3 dollar signs.
  • CokeBear, on 02/21/2008, -17/+302This is fantastic, and a model for every institution of higher learning in the world. They should all be like this.
  • YojimboJango, on 02/21/2008, -4/+269The kicker is everyone will sign up and you'll end up needing a better than perfect GPA to get in.
  • macwac, on 02/21/2008, -12/+269Not hard when you charge all your other students 50,000 USD a year!
  • dominikkom, on 02/21/2008, -4/+190So what happens to the students whose families may earn over 100,000$ but don't financially support them?
  • diatonic1, on 02/21/2008, -4/+139Except that going from $999,999/yr to $103,000/yr would be a 90% pay cut.
  • rukkyg, on 02/21/2008, -4/+112That's great. Can I get my $80k back for my student loans?
  • NJank, on 02/21/2008, -2/+81you say that like they're letting slackers in now...
    Seriously, they turn away 4.0 students as it is.
  • mudkiller, on 02/21/2008, -11/+82Bravo! Now if they could do something about that Tree mascot...
    http://www.stanford.edu/home/slideshow/pics/15_tre ...
  • TypeEE, on 02/21/2008, -17/+80Manager: This year, I'll increase your salary 3% from $999999 a year to $103000
    Employee w/ a son in standford: No, would you please freeze my salary for 4 years?
  • oldhick, on 02/21/2008, -4/+64Did you read the article? They have endowment that grew 22% to 17 billion dollars last year. Since they are a non-profit organization and facing scrutiny over their tax exempt status, they had to return some money to the community.
    Most schools don't have the awful problem of a $17 billion endowment.
  • zgoos, on 02/21/2008, -5/+59S.O.L., just like under the current financial aid system with the estimated family contribution, I imagine. I'm a little uncomfortable with awarding things to people based on their parents.
  • fuhcough, on 02/21/2008, -8/+59Ok so if I'm over 18 and make under $100K, does that mean I have a free ride to Stanford? I don't mind living off-campus...
  • gerbco, on 02/21/2008, -2/+51Yeah what would really ***** suck is if your family made 105,000... Imagine that "ah you make 5k too much.. please give us 40,000 and your left arm... Love, Stanford"
  • tomz17, on 02/21/2008, -3/+43So, .what's wrong with that?
  • Beery, on 02/21/2008, -5/+45They have to do what my wife did - work their way through college and deal with the student loan at the end of it. The fact that poor folks are finally being given a break does not mean that the entire fabric of the universe is falling down around us. If a family earns more than $100,000 their kid is going to get breaks that a kid from a family earning under $100,000 will never get. Anyone who claims otherwise doesn't understand how the real world works.
  • 11familyguy11, on 02/21/2008, -9/+48What a fantastic idea. No student should sacrifice their potential because they can't afford to fulfill it. This is going to make it possible for many children/teens to view college as a real possibility regardless of their mother/father's poor financial choices.
  • Numbski, on 02/21/2008, -2/+40This is precisely why I couldn't make it through college. My parents contributed NOTHING. I worked, worked, and worked some more, but couldn't afford tuition and room and board. I lived off campus, but still couldn't make ends meet. I finally gave up and entered the work force. By the time I was 24 I was too entrenched in bills to consider going back to school. :(
  • sportbikepilot, on 02/21/2008, -0/+37and that's why we use commas...
  • Saea, on 02/21/2008, -4/+40OMG, I almost started crying when I read this. This is big news, very big news, because my family doesn't have the kind of money for such a school like that, and now I know the option is there.
  • MacEnvy, on 02/21/2008, -4/+38I've been waiting for this to happen. See, the top-tier schools now have endowments large enough that they don't actually need to charge tuition anymore. This is essentially creating a "new tier" of college, a class of institution that is entirely free for those who can get into it. I think it's a good thing, and I would expect to see Harvard, Princeton, and Yale follow suit.

    My wife works in university fundraising, and it's been apparent for some time that "second-tier" schools need to really start building up their endowments to compete in the coming collegiate renaissance. It's an exciting time for higher education!
  • tomz17, on 02/21/2008, -4/+37You aren't subsidizing anything.. it's a private university douchebag. Besides, I would bet a significant amount of money that you are a much bigger waste of oxygen than any kid that got accepted to Stanford.
  • jaundicedave, on 02/21/2008, -1/+33You have to get in first, sport.
  • Uaedaien, on 02/21/2008, -2/+33Id rather be a smartass than a dumbass
  • chadu, on 02/21/2008, -7/+36This is truly admirable. Let's hope this spurs some other private institutions to the same. Fantastic!
  • NJank, on 02/21/2008, -18/+43thus sayeth the pissed off spoiled rich kid
  • enclaved, on 02/21/2008, -1/+25i know for federal aid, you're considered a dependent until you're 24 so probably not.
  • MindStalker, on 02/21/2008, -1/+25Yea you have to be atleast 24 for your parents to not be considered, and thats for public institutions, its likely if your parents are well off and your past 24 private institutions like Standord will still count your parents, if they just barley make $100K and live in a city where $100K isn't much you could probably still get close to a free ride.
    OF COURSE this all depends upon your getting IN to Stanford in the first place? You have a 4.0 average with community service, etc etc..?
  • TypeEE, on 02/21/2008, -1/+24damn, you guys know what I mean, $99,999

  • theutopian, on 02/21/2008, -1/+23That's pretty *****. Your mom sucks.
  • thatcrazycommie, on 02/21/2008, -1/+22That's really awesome. I work at the financial aid office at my school, and damn, I wish we could do this.
  • Shivetya, on 02/21/2008, -5/+26HAHAHA!.

    Got to love it. They finally admit to milking their tax free status and only acted out of fear that Congress was going to do something. Cannot wait for the IVY League schools to follow right behind.

    the biggest joke is the amount of money these schools have at their disposal while at the same time constantly jacking up fees faster than inflation to support all their dead weight professors who managed to fly under the radar long enough to get tenure and then rely on students to do their work!
  • designer, on 02/21/2008, -6/+26Just remember nothing is "free." Someone is paying.
  • NJank, on 02/21/2008, -2/+22teehee... only someone from Oxford would ask "Stanford is a pretty good Uni as well, right?"
  • sunyata76, on 02/21/2008, -3/+22When I saw this headline, I seriously thought it was a joke.

    Having seen that it isn't, I'm really, really pleased. This move will bring down one of the worst barriers to education.
  • sparky3, on 02/21/2008, -2/+21And with an endowment of 17 billion.
  • JonathanB, on 02/21/2008, -1/+20Now the already impossible school to get into will just get harder to get into...
  • KyleGoetz, on 02/21/2008, -2/+21Harvard already does it for those whose families make under $60K. This began in 2004.
  • mal1964, on 02/21/2008, -4/+23"$" My sons in!
  • jaej, on 02/21/2008, -2/+20change your username to TypeO
  • SteveMax, on 02/21/2008, -1/+19They should come up with a way for people to show their appreciation for a given comment or story without needing to comment. Something like you "digg" what you like, and you "bury" what you don't.

    Someone, someday, will add a system like this to a social bookmarking site.
  • inactive, on 02/21/2008, -1/+18With no extra income? Ya, dont think so.
  • audiologic, on 02/21/2008, -2/+19Agreed. So %}# frustrating. My mother owns a 3.4 million dollar vacation house yet won't even co-sign a loan with me to finish school. I am a junior, had to put of current schooling to work & build credit to finish senior year. In the middle of Iowa working for 18k a year atm. Oh well, at least my credit is turning good.
  • OMGIAMTHEMAN, on 02/21/2008, -0/+17I'm humbled when dumb people make good points
  • pintomp3, on 02/21/2008, -1/+18i feel bad for the families making $30,000 a year.
  • cawpin, on 02/21/2008, -2/+18This is why you shouldn't waste your time trying to keep a 4.0.
  • nbcaffeine, on 02/21/2008, -1/+17that is totally NOT a 3% increase
  • doxavg, on 02/21/2008, -0/+15It's exactly one more than 2 dollar signs and one less than 4 dollar signs. It's also exactly one dollar sign too many apparently.
  • 9mmCensor, on 02/21/2008, -4/+18Because in America traditionally education (or at least a good one) is prohibitively expensive to the poor.
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