Finally, there’s some positive news when it comes to tuition costs.
Stanford just made university free to families who earn less than $125,000 UD per year and have assets of less than $300,00, excluding retirement accounts. If they make less than $65,000, they’ll be exempt from paying room and board fees as well.
While this surely offers incentive for those debating a return to the textbooks, the ride’s not entirely free. Students are still required to pay $5000 per year for school-related expenses, expectedly earned from part-time and summer jobs.
The announcement marked a departure from the school’s previous financial aid plan, which only applied to families making less than $100,000.
Stanford is able to be so generous in its subsidizing of lower income students thanks to the large number of higher income students.
As one of the richest universities in the world, it has an endowment of $21 billion, according to a report from Vox.com.
In fact, the university is even more generous than the federal government; most students who receive loans come from families who earn less than $60,000.
If only some of Canada’s schools could do the same; our tuition fees are expected to rise 13 per cent in the next four years alone.
Listen up, McGill, U of T, UBC, et al…