If your family earns $65,000 or less, room & board is also free.
Pretty good deal.
http://www.vox.com/2015/4/1/8328091/stanford-tuition-financial-aid
But I believe I read the assets have to be under 300,000, so if you own a house you might be out of luck.
Is this scholarship available only for USA resident students or for international students as well??
Not counting retirement accounts, yes, but if you have your house paid off, you can probably afford tuition, without a mortgage payment.
I believe yes, please refer to Stanford’s website on financial aid. But it is very difficult to get accepted to Stanford and especially if you are an international student.
Many of my friend’s in California have parents who are still paying off their houses, middle-class families in small but super expensive homes (even apartments go for 700,000 in LA!)
Nice gesture, just too bad it’s nearly impossible to get in. A freaking 5% acceptance rate. Want to try and transfer in? Good luck, they have a 1.9% acceptance rate.
Sigh. Stanford is like that girl, who is just so beautiful, but will reject you no matter how romantic you are for her godliness.
I think there’s some fine print. It says PARENTS don’t have to pay tuition, which isn’t the same as FREE tuition. I’m guessing students have to take federal loans ave $6000 and get work study, and contribute $5000 from work. It’s generous, for sure, but not all that different from many schools that give good merit and need award combos.
Maggpie…I totally do not agree with you. This is very generous need based aid. With the exception of Harvard, Yale, and maybe Princeton, you won’t see this at all.
And I have to ask…when a school is giving you free tuition…is it really too much to ask for the student to take a $5500 student loan and work a work study job? Free tuition at schools like this is upward of $40,000…just tuition.
That caveat of having assets in line with what is typical for a $65,000 income or less will catch some people.
Thumper, I agree, it is generous. I had said that in my post. And, I totally agree with you that students should be working and taking the Stafford loans. All of my kids are doing that.
It just that the headlines kind of make it seem like free tuition, which I was just thinking it’s not technically. But, we did get 4 offers from other private schools that brought our tuition down to about that same number. And one that was much much more expensive. All good though, just pointing out that many schools do get tuition down to $12,000, which is what it sounds like Stanford is doing. Unless I’m misinterpreting the article…
There aren’t very many schools that cost as much as Stanford that make it possible for families with $125,000 in income to attend for $12,000.