Stanford announces new financial aid policy

Stanford University has announced their latest enhancement to their financial aid policy. The new policy provides that families with income less than $100,000 will not pay tuition and families with income less than $60,000 will also not be expected to provide any contribution to room, board and other expenses. Further, the new policy eliminates loans for all students which will presumably be replaced by grants. The report on the new policy also mentions “other significant enhancements” that have been made to their financial aid program but provides no details.

It is wonderful to see Stanford joining their competitors by revising their financial aid policy. As a counselor it would also be nice to know what those other “enhancements” are to financial aid to completely advise students who might be interested in Stanford.