Students from Middle-Class Families May Qualify for Free Tuition from Stanford

The 5 percent admission rate is another discussion.

Photo via flickr user HarshLight

If you’ve got a quarter of a million dollars laying around, congratulations, you can probably afford to attend or send your kid on an all-expenses-paid four-year college education at Stanford—and a nice new car, to boot. But for those who can’t afford the estimated $230,000-plus in tuition, fees, room and board, books, and other supplies, the university may have just made getting that top-notch degree much more feasible for middle-class families.

On March 27, Stanford University announced a change in policy that allows students from families with a household income of below $125,000 to attend without paying tuition, given the family’s assets are lower than $300,000 excluding retirement accounts. Since 2008, the line was set at $100,000. For families with a household income below $65,000—previously $60,000—room and boarding is thrown in for free, too. As part of the deal, students will be expected to contribute $5,000 annually (preferably sans loan, to maintain Stanford’s high percentage of debt-free graduates), but parents can foot that bill if they desire.

"This expansion of the financial aid program is a demonstration of Stanford's commitment to access for outstanding students from all backgrounds—including not only those from the lowest socioeconomic status, but also middle- and upper-middle-class families who need our assistance as well," said Karen Cooper, associate dean and director of financial aid, in a statement.

Stanford University’s positioning as one of the nation’s most affluent universities (boasting an endowment of $21 billion), as well as its high proportion of wealthy students who pay higher tuition to help subsidize lower-income peers, allows it to trickle down the wealth.

Stanford’s financial aid offices typically approaches families on a case-by-case basis, and that may help out even households in the upper-middle-class bracket. For example, families with incomes at higher levels around $225,000 may qualify for assistance if another family member is simultaneously enrolled in college.

"We are honored by the interest in Stanford and the experiences shared by all prospective students through the application process," said Richard Shaw, dean of admission and financial aid, in the statement. "The opportunities at Stanford are limitless, and our newly enhanced financial support makes these opportunities more accessible than ever before."

via David Leavitt / Twitter

Anyone who has ever worked in retail knows that the worst thing about the job, right after the pay, are the unreasonable cheapskates who "want to talk to your manager" to get some money off an item.

They think that throwing a tantrum will save them a few bucks and don't care if they completely embarrass themselves in the process. Sometimes that involves belittling the poor employee who's just trying to get through their day with an ounce of dignity.

Twitter is rallying around a gal named Tori who works at a Target in Massachusetts after she was tweet-shamed by irate chapekate, journalist, and Twitter troll, David Leavitt.

Keep Reading

Childbirth is the number one reason American women visit the hospital, and it ain't cheap. In fact, it's getting more and more expensive. A new study published in Health Affairs found that the cost of having a baby with employer-sponsored health insurance increased by almost 50% in the past seven years.

The study evaluated "trends in cost-sharing for maternity care for women with employer-based health insurance plans, before and after the Affordable Care Act," which was signed into law in 2010. The study looked at over 657,061 women enrolled in large employer-sponsored health insurance plans who delivered babies between 2008 and 2015, as these plans tend to cover more than plans purchased by small businesses or individuals.

Keep Reading

A meteorite crashed into Earth nearly 800,000 years ago. The meteor was 1.2 miles wide, and the impact was so big, it covered 10% of the planet with debris. However, scientists haven't been able to find the impact site for over a century. That is, until now. A study published in the Proceedings of the National Academy of Sciences journal believes the crash site has been located.

Tektites, which are essentially rocks that have been liquefied from the heat of the impact and then cooled to form glass, help scientists spot the original impact site of a meteor. Upon impact, melted material is thrown into the atmosphere, then falls back to the ground. Even if the original crater has disappeared due to erosion or is hidden by a shift in tectonic plates, tektites give the spot away. Tektites between 750,000 to 35.5 million years old have been found in every continent except Antarctica.

Keep Reading