Beginning in 2020-21, Stanford will provide scholarship support to cover the price of undergraduate tuition for parents with annual incomes below $150,000, up from the current $125,000 threshold.
Stanford’s Board of Trustees set 2020-21 tuition levels and expanded undergraduate financial aid for middle-income families. (Click image to enlarge) (Image credit: Dana Granoski)
Building on last year’s action to expand middle-class aid by excluding home equity from the financial aid calculation, Stanford in 2020-21 will offer tuition-free access to families with annual incomes below $150,000, up from the current $125,000.
“In removing home equity from the financial aid calculation last year, the board indicated it was taking the first in a series of steps to expand financial support for middle-income families,” said Board Chair Jeffrey S. Raikes. “This is the next step. In addition to our continuing work to ensure that Stanford is financially accessible for the lowest-income families, we believe it’s important to bolster our efforts to support families in the middle, who often are squeezed by the costs of college.”
Stanford has a need-blind admission process for U.S. applicants, meaning that an applicant’s financial need is not factored into the admission process. Once offered admission, Stanford undergraduates are offered need-based financial assistancesufficient to cover their Stanford expenses without needing to take out student loans.