Stanford Just Made Attending Free For Some of 80% Of American Students

Stanford engineers

By , Addicting Info

One of the best universities in the country just made college accessible for more than 80 percent of students by raising the level at which they offer free tuition. Many students will even get free room and board.

Since 1978, the cost of college tuition has increased a whopping 1,120 percent. Not even the skyrocketing cost of healthcare has kept up.

The average cost of in-state tuition at a four year public university is almost $9,000 per year. The average cost at a private university is $30,000 per year.

At Stanford University, it’s even more than that. Tuition alone is almost $46,000 a year. Add room and board and other costs, you will be spending close to $65,000 per year.

Granted, Stanford grads make among the highest salaries, but if only the wealthy can afford to go there, it only perpetuates a legacy of wealth. It doesn’t pull people up from the middle class.

Fortunately, Stanford is doing something about that. They simplified their financial aid program so that anyone who comes from a family that makes less than $125,000 a year and total assets worth less than $300,000 (excluding retirement accounts) will have free tuition. If the family makes less than $65,000 a year, room and board will be free too.

By contrast, students only get government subsidized assistance if their family makes less than $60,000.

There is one catch, though, and that is that students would have to pitch in $5,000 over the course of the year, which can be done via a summer job or help from parents.

More than 80 percent of Americans make less than $125,000 per year. More than half would qualify for free room and board.

As MSN.com notes, Stanford can afford this while most major universities don’t have the endowments that would allow them to have such a generous package.

It’s time for all Americans to look at education in the same way as Stanford does. Talent and brains come from all walks of life. Society shouldn’t lose out on potential greatness just because someone can’t afford to go to college.

 

Reprinted with permission from Addicting Info

 

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