Related?

Think these two are related?

From the Stanford Daily:

Stanford’s endowment grew nearly 22 percent last year to $17.1 billion. This massive quantity of tax-free money has attracted the attention of members of Congress, who want the wealthiest universities to do more to reduce tuition costs.

From I Will Teach You to Be Rich:

Tomorrow, Stanford will announce significant changes in its financial aid program that will make undergraduate education more affordable for families receiving aid. We want you, our alumni, to be among the first to hear this news.

Stanford University today 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.

The program also eliminates the need for student loans.

Ha!

Good news for smart kids (and their parents) who make less than $100k. Even better if you make under $60k.

Comments

[That One Caveman]

Dang... Missed it by 10 years! Nah, I'm just as happy with my state education on a full ride. Seriously. Compared to a few friends who went to pricey private schools, I definitely feel I got the best bang for my buck and my time.

[Kyle]

I seem to recall Harvard and a few other of the Ivies doing this lately as well. It may be more peer pressure than legislative pressure. But in any event, I have a fundamental problem with lawmakers trying to tell private universities what to do with their endowments; however, public univerities should of course do everything possible to keep tuitions low.

[Kevin]

Wow, that is great. I'll have to remember that by the time my guy is applying to college. By then I'll hopefully be making $100k + though.

[JACK]

When did Harvard do this? Sure as hell didn't when I was there. It's certainly a nice sign. Maybe those studies saying that, for example, Harvard could live off its endowment alone for 50 years finally embarrassed them. How far back do they look on this wage thing? Can one purposefully move to a lower paying position for four years and get such a deal? If you have multipled kids in school, that could be huge.

[Sarah]

It's a trend. Yale, Harvard, and I believe Princeton have all gone to a similar model over the past year or so.

Could've used this during my undergrad days, I can tell you that. I still have some of that debt.

[Kyle]

I think it was in response to the growing sentiment that an Ivy league education just wasn't worth the cost anymore. That's certainly the sentiment in my experience, at least.