Stanford has stepped up and is now using more of their endowment to help students with their tuition. Good news for families that don’t make more than $100,000 income since there tuition will be free and if the total income is less than $60,000 then room and board is also included.
I think this is a wonderful change for Stanford as a private university that charges over $30,000 a year in tuition and where about seventy-five percent of the student population is on some sort of financial aid or another.
This act is actually a response due to the fact that school endowments are tax exempt and a senator raised the issue that if the public wasn’t seeing enough of a return from the endowments and that raised the question of whether or not they should be tax exempt.
All in all, this is terrific news since it means that more qualified high school students won’t be turned away due to financials to schools that they are suited for. And that’s the way education should be.