Stanford Beefs Up Financial Aid Program

In surprising and interesting news, Stanford has given it’s financial aid program a shot in the arm.

The gist of it runs: If your family earns under $100,000 per year, your qualify for financial aid to cover all your tuition fees. Additionally, if your family earns under $60,000 you qualify for financial aid for all your tuition and all your living costs!

Stanford is a “need-blind” university which means that your selection to study there is not dependent on your finances or whether you’ll be able to pay the fees. This change has come along as recently the school has been generating tax-free profits (or endowments) reaching into the tens of millions of dollars, attracting the saber-rattling of lawmakers gently reminding them that their purpose is not to operate with massive surpluses, but to provide education to those out of school. After all, they do get the large tax breaks and other government perks.

Although this is in America, and not New Zealand – I do wonder how a scheme like this would work out here. Of course the right would balk at the idea of them paying and someone else not and to an extent, I agree. But isn’t it everyones right to a decent education, not just those who can pay the ever increasing fees? Don’t we deserve to not be reliant on this horrible student loan scheme, who’s only purpose is a half-assed attempt to keep people in the country?