According to Director of Financial Aid Karen Cooper, MasterCard will disburse $500 million in an education initiative for sub-Saharan Africa.
Stanford offered admission to 2,210 students via electronic notification today, producing – at 5.69 percent – the lowest admit rate in University history.
The inability of the federal government to avert the “sequester” — automatic and across-the-board spending cuts of $85 billion that came into effect last Friday — will seriously affect the state of ongoing and future research at Stanford, according to University administrators.
Undergraduate tuition will increase to $42,690 next year, compared to $41,250 this year, and room-and-board charges will increase from $12,721 to $13,166, according to a University press release.
The Board of Trustees approved a 3.5 percent tuition increase for the 2013-14 academic year on Monday. The increase will affect all Stanford students equally, with the exception of those at the Graduate School of Business, whose tuition will rise by 3.9 percent.
Even as Stanford continues to bounce back strongly from the impact of the 2008 recession, renewed uncertainty about potential cuts in federal spending may prompt a more serious challenge to the University’s ability to fund faculty and students in the years ahead.
Average of Stanford students graduating with debt decreases, but indebtedness increases
For the first time ever, Stanford Law School will reach into its unrestricted funds to cover students’ need-based financial aid. Lower endowment returns and an increase in the number of students qualifying for financial aid has caused the school “to wipe out” the financial aid funds for this academic year, according to the University’s 2012-13 budget plan.