July 23, 2014
PALO ALTO, Calif. (AP) - Attending Stanford University next year will be a lot more affordable for some undergraduate students.
The university announced Wednesday plans to eliminate tuition for students with annual family incomes under $100,000 and to pay most of the room and board for students whose families make less than $60,000.
Financial aid director Karen Cooper says the move comes as middle-income parents express concern over paying for a Stanford education despite financial aid including loans and grants.
Stanford tuition is expected to rise to $36,000 in the fall. Room and board will cost a little more than $11,000.
About a third of the university's 6,700 undergraduates are expected to qualify for the tuition break.
Stanford is the latest elite private college to devote more money to financial aid.
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