Families with College-Bound Kids Get a Break
Several Ivy League schools are offering reduced or even free tuition for students who come from lower- and middle-class families.
For low-income youth, Stanford will pick up almost the entire tab for tuition, room, and board — $47,000 yearly. Even wealthier families get a break: Students whose parents earn less than $100,000 will get free tuition, worth $36,000 a year. Although Stanford will still take the value of a home into consideration when working out financial packages, home value will play a smaller role than it has in the past. Harvard, Princeton, and Yale, Stanford are offering similar deals.
To date, 24 private colleges have sweetened financial packages for low- and middle-income families. Until recently, top colleges offered little or no aid to average families.
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