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CURRENT
UNDERGRADUATES
Our Philosophy
Meeting the cost of an undergraduate education is a significant investment. At Stanford, we are committed to providing a comprehensive need-based financial aid program that makes it financially possible for admitted students to attend Stanford.
Our admission program is need-blind, meaning, for all but some international applicants, financial status will not affect the admission decision. Fundamental to our commitment to need-blind admission and to a need-based financial aid program is the expectation that you and your parents together will assume the initial, primary responsibility for meeting the cost of your education.
To meet your educational expenses we also expect you to seek financial resources from state, federal and private sources, and to contribute from your earnings during summers, holidays, and/or part-time employment during the academic year.
If we determine that you cannot meet the standard educational budget from personal, family or outside resources, we will award or recommend financial aid resources to help you meet that budget.
Our financial aid staff will partner with you and your family to help you find ways to meet the cost of your Stanford education.
Qualifying for Financial Aid
Subject
to the availability of funds, we are committed to meeting the computed financial need
of all students who apply on time and meet all requisite conditions for aid.
Financial need is defined as anticipated expenses minus your computed parent
and student contributions. The package generally includes an earnings expectation as well as scholarships and grants.
At Stanford, the first component of your aid package is the academic-year earnings expectation. This means that we expect you to earn the first portion of your financial aid funds each year. If your financial need is higher than the standard expectation of $2,500, we will award grant and scholarship funds to meet your remaining financial need.
The Parent Contribution
Stanford makes several allowances in regard to your parents' taxed and untaxed income and assets to establish the parent contribution. These allowances include taxes, a standard cost-of-work expense, unusually high non-insured medical expenses, private elementary and secondary school tuition for siblings, an allowance to reflect basic living expenses, and an allowance to recognize the need to save for younger children's future college educations.
We also consider assets in determining the parent contribution. Stanford first protects a portion of your parents' assets and then considers no more than 5% of the remaining amount. Home equity is included in the asset analysis for university aid, although it is excluded from the analysis for federal aid. Also, the amount of home equity included in the analysis is capped at 1.2 times total parent income. Retirement funds such as 401k, 301b, and IRA accounts are excluded from consideration.
Your expected parent contribution is further adjusted if your family will have more than one child enrolled in college. And, in cases of separation or divorce, we expect both parents to participate in paying for your education. We will compute separate contributions for your custodial and non-custodial parents.
The Student Contribution
We expect you--the student--to make an effort to contribute to your own college expenses, drawing on your earnings as well as your personal savings and other assets.
We expect you to contribute 50% of your base-year after-tax income, with a $1,700 minimum expectation for freshmen and a $2,000 minimum expectation for sophomores, juniors, and seniors for 2008-2009. We also expect you to apply a portion of the current value of your savings, stocks, bonds, and other assets toward your college expenses each year. For 2008-2009, student assets will be assessed at 5%.
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2008-2009 Financial Aid Application Deadlines
SUMMER QUARTER
June 1, 2008
Summer Aid Applications Due
June 15, 2008
Undergrad Bills due;
Health Insurance Waiver Deadline
June 29, 2008
Study List Deadline
July 6, 2008
Add Deadline
July 13, 2008
Drop Deadline
July 15, 2008
Graduate Bills due
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