Stanford University announced on Wednesday that it would increase its need-based financial aid by 15.2 percent, to $76-million annually, in an effort to help students from middle-income families. The university also said it would reduce the amount of home equity it assesses when calculating students’ need for financial aid, capping the amount of equity at 1.5 times family income. Stanford estimated that the move would reduce parents’ contributions for families with “significant” home equity by $2,000, on average. The university’s annual tuition and fees currently total more than $43,000.
February 22, 2007
Stanford U. Sharply Increases Student Aid and Cuts Home Equity in Aid Calculus
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