Stanford is now free

Of course, there's an income test. All you have to do is get in. Stanford now has to lowest acceptance rate (5%) in the USA.

Stanford just made tuition free for families earning less than $125,000 per year - Vox

 

That's great. Emory University has a similar policy, although the numbers are not exactly the same.

 

Yeah, the competition is high.

 

Competition is high. But it's a competition that's at least worth entering.

Without policies like this, competition would still be high to get into Stanford. And people of modest means would still get accepted. Then they would have to choose between an amazing amount of debt or going to a school with a more modest tuition structure. Personally, I'm always happy to see the elites making themselves available. With the size of the endowments of some of these schools they can afford to make the concession and the rest of us here in the 99% directly benefit.

$125k for a family isn't a lot. My family would be excluded even though I have a mere mid-level position and my wife works for a somewhat small non-profit. But growing up we were dirt poor. My guidance counselor told me to not even bother applying to the Ivys and the elites.

"Even if you get in, how are you gonna pay for it?"

Hopefully the trend continues. Otherwise I might have to move to Canada so I can pay for my kids' college tuition.

 

I believe Princeton started its "no loan" policy the same year my daughter got accepted and enrolled there (2004). She was also accepted at MIT and that was her first choice. At a cost difference of about $40K per year, this child (age 17 at the time) had to go to her "second choice" school. Fortunately she ended up loving Princeton and even returns every year to meet with friends and participate in alumni activities. I have kept many of her tuition statements just for fun. Most often, there was a negative balance on the bill. Some terms she did need help buying her books though. Many of these prestigious schools are now adopting similar policies. I think it is great that they get enough supporters to make this possible.

 

Steve, all kidding aside, when we first learned all this, her father and I about forced her to "choose" Princeton and she cried, saying there must be a way she could still go to MIT! As I said in the previous post, she ended up loving Princeton and I'm 100% positive it was a better fit than MIT would have been, even if the cost was not a factor.

 

Harvard has been doing this for a while now:

https://nonprofitquarterly.org/policysocial-context/23214-harvard-initiative-to-attract-low-income-students-includes-free-tuition.html

Here's another list of schools that have free tuition deals:

20 of the Best Colleges Providing Free Tuition | The Best Schools

 

If Stanford can do it, then it may be time for everyone to do it - free education if family income below $150k.

 

Is this free tuition available for graduate students or is this only for undergraduates?

 

Point taken, however, it will be nice for children from the same income level who are not as smart as those that can be admitted to Stanford to get similar deals. Some States schools are not so bad off. I have seen stories about 7 digits salaries for coaches. Also for State Schools it is about governments/institutions refocusing on how best to fund schools. Tuition is one option, granted the easiest option for school to make ends meet, however, there are other options/models of funding schools. I/We do get excited about tuition-free education because it provides opportunity. The hard work is still yet to come, the years of reading, studying, test taking and missed time with friends and family are but a few of the sacrifices.

 

An article by the Economist on funding education.
Privatisation: Mix and match | The Economist

 

Here's someone who thinks the Stanford free tuition deal is not a good thing.

Stanford's tuition giveaway program is a dangerous idea - Business Insider

 

I read part of the article but stopped reading when it got too boring. I am sure I am biased since my daughter went to Princeton for free. I could not relate to what I read in the article, which was basically saying advantaged kids are still much more likely to get in. That might be true, but makes it extra sweet for my family because my daughter was not "advantaged." She went to a public school in a very poor, depressed small town. Her father is a truck driver with only a high school education. I was a teacher at that time, but only had been for a few years when she started. I never started college myself until after having three children, 12 years out of high school. My father was a high school dropout, who actually frowned upon higher education, but my mother did graduate from high school.

 

This article mentions the Stanford debate but it's really about countries that offer free university education.

The Stanford No-Tuition Debate: Countries That Offer Free University-Level Education | Benzinga

 

US students receiving free education in Germany.
How US students get a university degree for free in Germany - BBC News

 

Wow! Great article. It really deserves its own thread.