In a radical change to its financial aid program,
Stanford University announced the largest increase in its history for its
financial aid program for undergraduates. Under the new program, parents with
incomes of less than $100,000 will no longer pay tuition. Parents with incomes
of less than $60,000 will not be expected to pay tuition or contribute to the
costs of room, board and other expenses. Students will still be expected to
contribute their earnings from work during the summer and academic year. The
program also eliminates the need for student loans.