(PCM) In a move to expand their current financial aid offering, Stanford University has announced that they will now be offering free tuition to students whose families make less that $125k per year.
The university claims that their main priority to make Stanford both affordable and accessible to the most talented students no matter what their financial circumstances. Although the tuition will be free to eligible students, there is one small loophole. The students must be able to contribute $5,000 towards their education costs using wages earned through part-time or summer jobs, unless they choose to borrow the funds.
Stanford claims that with the new programs in place for financial aid assistance, nearly 77% of their students are able to graduate debt free. Costs for the university without financial assistance can cost upwards of $65,000 per year.
