Board of Trustees approves 4 percent increase for 2022-23 tuition
The Stanford Board of Trustees has approved a 4 percent increase in tuition and a 4.25 percent increase in room and board for the 2022-23 school year.
After a year of no tuition increase, the Stanford Board of Trustees has approved a 4 percent increase in tuition and a 4.25 percent increase in room and board for the 2022-23 school year.
Stanford’s comprehensive financial aid program, which has been expanded several times in recent years, will offset the tuition increase for students and families who demonstrate financial need.
“Ensuring access to a Stanford education is a top priority for the university and need-based financial aid plays a central role in sustaining access for students of all financial backgrounds,” said Stanford Board of Trustees Chair Jerry Yang. “This tuition increase will help support our people and our programs, including student financial aid, amid inflationary pressures on our operating costs.”
Total undergraduate charges will increase to $77,034 next year, including $57,692 for tuition, $18,619 for standard room and board and $723 for the mandatory health fee. General graduate tuition will also be increased by 4 percent, and some professional programs may have smaller increases, which will be posted later in the year on the registrar’s website.
Last year, the board voted to expand financial aid and keep tuition flat for the 2021-22 school year, citing concerns related to the pandemic’s impact on students and their families. It was the first year without an increase in more than three decades.
The tuition increase will help address pandemic inflationary pressures facing higher education. Undergraduate tuition serves as the largest source of general funds, which support essential ongoing operations, need-based undergraduate financial aid and many new program investments. Tuition doesn’t cover all costs of an undergraduate education, meaning families who don’t receive financial aid also receive a subsidy. Room and board revenue directly supports operations of Residential & Dining Enterprises, which has seen increases in the cost of food, materials and other operating expenses during the pandemic.
Stanford has one of the strongest financial aid programs in the country, and the financial aid program has undergone several major enhancements over the past dozen years. Last year, the board of trustees expanded financial aid eligibility so families with incomes below $75,000, and assets typical of that income level, are not expected to pay tuition, room or board. Previously, the policy applied to those with incomes below $65,000.
In 2020, the university increased its full-tuition scholarship threshold from $125,000 in annual family income to $150,000, and in 2019, Stanford removed home equity as a factor for financial aid calculation.
Approximately 70 percent of undergraduates receive some form of aid to attend Stanford. Just 13 percent of undergraduates leave Stanford with student debt, and the median amount is $13,700.
To improve affordability for graduate students, the university has expanded availability of on-campus housing and committed to providing a minimum of five years of funding for all doctoral students. Stanford will also increase the health insurance subsidy to 100 percent for graduate students who are supported on research and teaching assistantships (at 25 percent level or higher) or fellowships at a comparable level and who are in good academic standing.
In other matters …
- Trustees heard a report on enhancements to in-person and online advising for undergraduate students from the Vice Provost for Student Affairs and the Vice Provost for Undergraduate Education. The report discussed the increase in demand for in-person advising and detailed a multi-year effort to design and implement a connected ecosystem of digital tools that will transform the experience of students and academic advisors.
- The board also heard a report on Stanford’s enterprise risk management process and the role trustees play in helping to identify and monitor enterprise risks. The trustees then heard a detailed report on one of those enterprise risks – cybersecurity – and the associated mitigation measures that have been implemented or planned.