Sunday, July 5, 2015

Good news and bad news about Stanford University

Recently Stanford announced that 2,144 high school seniors were accepted to attend the prestigious university.

The remaining 40,343 unsuccessful applicants (and their parents) shifted their hopes to other schools.

The other part of the good news is that Stanford revealed new details about expanded financial aid: students whose parents have annual income and typical assets of less than $125,000 won’t have to pay any tuition. The previous cutoff was $100,000.

The other part of the bad news is that the sticker price at Stanford is about $65,000, including annual tuition over $45,000 and room and board and other costs at roughly $20,000.

It’s just whacky that anyone can talk calmly about paying $65,000 a year to go to college.

Let’s focus on the common sense thing: it costs too much to go to college.

Colleges should figure out how to reduce the degree requirements so a typical student can finish in three years (hint: dump the liberal arts courses for most students, and give them a suitably renamed “professional degree” instead of the classical bachelor’s degree).

Students and their parents should look for colleges they can afford to attend without loading up on student debt.

Solutions aren’t simple, but there are some clear tracks we can follow.

Copyright © Richard Carl Subber 2015 All rights reserved.

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