Stanford University has announced to increase in its undergraduate tuition fee by 7% for the 2023–2024 academic year. The increase is attributed to soaring inflation which affects the university’s expenses. It is also aimed at continuing high-quality academic and student support programs. Charges for room and board will also increase by 7%. An undergraduate paying for full tuition will pay $61,731 for tuition, $19,922 for standard room and board, and $753 for the mandatory health fee – a total of $82,406.
Meanwhile, the Board of Trustees released new changes in the financial aid program. The university has expanded the program in which more than two-thirds of undergraduates can receive financial aid through internal and external sources, including athletic scholarships. The university has also expanded the household income threshold from $75,000 to $100,000.
Students with a family income below $100,000 will receive scholarship support that covers tuition, room, and board. While students with a household income of $150,000 will also receive a lesser tuition fee.
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Stanford University has increased the household income threshold to $100,000. (Photo: Stanford University)
The university’s financial aid program also includes the following features:
- 86% of students will graduate with no student debt
- The university excludes home equity from the calculation of parental contribution
- First-year students awarded need-based aid and enrolled in fall 2022 will receive an average annual scholarship of more than $62,000.
Meanwhile, the tuition fee for graduate and professional programs has also increased by 4%. You can also visit the Student Services websites for the specific tuition levels for graduate and professional programs.
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