Stanford University recently announced a revision to their current financial aid plan. Beginning with the class of 2019, any student whose parents are making under $125,000 a year will now receive a full ride to the university. That is…Amazing. When I read this news, I remember feeling overwhelmed and happy knowing that so many talented students will have this opportunity to attend such a great university without this huge burden on their shoulders.
I still remember when I was applying to schools and even hesitating to apply some universities because I didnt want to be trapped under a lifetime of debt regardless of whether or not I could get in. I didn’t even want to try. Seeing the price of tuition just made me want to give up. This new change for Stanford students is going to make an incredible difference and I hope other universities across the country will join in and start making revisions to their own financial aid programs as well to accomodate the increasing costs of tuition just about everywhere.
Also just for reference, one year at Stanford for an undergraduate costs $65,000. If you times that by 4, you get $260,000 for an entire undergraduate career.