Stanford University will offer a free ride to any student whose parents make less than $125,000 a year, University officials recently announced in an expansion of its financial aid program for the coming school year.
“Our highest priority is that Stanford remain affordable and accessible to the most talented students, regardless of their financial circumstances,”Stanford provost John Etchemendy said.
The simple rule-of-thumb was revised from the previous year’s benchmark, $100,000 in family income. Eligible students are expected to contribute $5,000 to tuition using part-time wages, though they will not have to borrow money to meet that goal.
Without financial aid, Stanford students pay upwards of $65,000 a year in tuition.
More Must-Read Stories From TIME
- The Fall of Roe and the Failure of the Feminist Industrial Complex
- What Trump Knew About January 6
- Follow the Algae Brick Road to Plant-Based Buildings
- The Education of Glenn Youngkin
- The Benefits and Challenges of Cutting Back on Meat
- Here's Everything New on Netflix in July 2022—and What's Leaving
- Women in Northern Ireland Still Struggle to Access Abortion More Than 2 Years After Decriminalization
Read More From TIME
