Stanford is now offering free tuition to students, so what’s the catch? According to Stanford… none.
Stanford is one of the country’s most prestigious schools, and with that usually comes a hefty price tag. With an acceptance rate of only 5.05% though, it makes it even harder to get in despite any level of income.
But last week, Stanford made a move that seems unlikely in a country where the cost of college education has skyrocketed over the years – an offer of free tuition for many of it’s admitted prospects.
In a press release, Stanford announced that for it’s admits to the 2015-16 school year, any student who’s family income is $125,000 or below is getting free tuition. Even more, any student’s family income that is $65,000 or below gets not only free tuition, but also room and board – a price that alone totals over $14,000.
While the likes of Yale and Princeton also have had similar measures, the offering is revolutionary to a world where not-for-profit schooling has steadily cost more and more for decades.
“Our highest priority is that Stanford remain affordable and accessible to the most talented students, regardless of their financial circumstances,” Provost John Etchemendy said in a statement.
A rather simple, straightforward, and honorable hand to extend. Currently 77 percent of Stanford undergraduates leave the university at graduation with no student debt. But Stanford can only do such a thing because of its current demographic – the extremely high number of wealthy students who attend. It is also one of the richest universities in the world with an endowment of $21 billion, according to an even more in depth report by Vox.com.
-Curt Cramer (@CurtisRemarc)