There is good news for students hailing
from economically weaker backgrounds who aspire to study in an Ivy League
college. Stanford University, USA has announced a fee waiver for students from
As per a statement by Provost John W.
Etchemendy, "Our highest priority is that Stanford remains affordable and
accessible to the most talented students, regardless of their financial
"Our generous financial aid program
accomplishes that, and these enhancements will help even more families,
including those in the middle class, afford Stanford without going into
debt," added Etchemendy.
criteria for receiving fee waiver
Students whose family annual income does not
exceed $ 125,000 will be exempted from paying tuition fees.
Students with families having assets less
than $300,000 can claim the waiver
Home equity except retirement saving
accounts will be counted as family assets
While the tuition fees can amount to $46,000
per year, accommodation charges can go up to $14,000 annually. However, if a student
hails from a family whose annual income is less than $65,000 he or she will get
a full waiver for accommodation fees
In any case, students will not be exempt from
paying the entire fees. They have to pay at least $ 5,000 to the University, by
doing part-time jobs or summer jobs.
Universities like Harvard, Yale and Princeton,
waive tuition fees for a student, whose family income does not exceed $120,000
per year and provides free accommodation to those whose family income is less
than $60,000 per year.
These universities believe that money
should not be a constraint for deserving students to access quality education and do not want the students
to come under heavy debt owing to rising cost of education in the US. However,
Stanford University revealed that 77 per cent of its graduate students are free
of debt, unlike most graduates from other universities in US which come under
heavy debt by the time they graduate.
Earlier this year, the United State
President, Barack Obama had declared that community colleges would be made free
for high school pass-outs getting good GPAs. For making good education
accessible to all, some community colleges in states like Chicago and Tennessee
have declared free tuition fees for students.