Stanford University accepted a lucky (and hard-working) 2,144 students for its class of 2019. The students were selected from the largest applicant pool in the school's history--42,487 students applied. Stanford also announced an expanded financial aid package through which parents with incomes below $125,000 a year will be required to make no contribution to tuition. (The students themselves will be expected to contribute at least $5,000 toward their tuition--money earned, not borrowed.) Parents with incomes of up to $225,000 are also eligible for aid, especially if they have more than one child in college. That figure sets a new bar for where the 21st century financial elite begins.
Stanford University (est.1891) is the youngest of all the elite universities. Founded by Leland and Jane Stanford as a gift to "the children of California" it has become a gift to the world. The school's mandate is to produce "cultured and useful" citizens--and Stanford has long emphasized usefulness, encouraging innovation and entrepreneurial spirit. Besides the generous new financial aid package, Stanford has been a leader in offering free online courses to curious people around the globe. Notably, 16% of those accepted into the class of 2019 will be the first in their families to attend college.
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