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As the cost of college skyrockets, one school has a radical new plan: a free education.

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Over the past decade, the cost of college has boomed.

At private, four-year colleges, the cost of tuition and fees has risen by nearly 25%. And at public, four-year schools, tuition and fees have risen by more than 40%.

As a result, the amount of debt carried by the average student has risen. Total outstanding student loans now tops $1.2 trillion.

(Yes, trillion with a “t.”)

In a major contrast to how things are handled in the U.S., Germany announced all public universities will be tuition-free.

This is huge. And hey, it almost makes me want to pack up, start brushing up on German, and emigrate.

But did you know some schools offer a way to do this in the U.S.? And without a scholarship.

At Yale and Harvard, students who come from families making less than $65,000 per year can attend school tuition-free.

At Princeton, the school waives tuition for students coming from families with yearly incomes less than $120,000.

Stanford recently made news by expanding its program, waiving tuition fees for students from families making less than $125,000.

It’s great news for students who otherwise wouldn’t be able to afford Stanford. But the school’s admissions criteria is extremely selective (accepting around just 5% of applicants).

The school is only able to offer such deep discounts because:

  1. The more financially well-off students’ fees help offset the cost of those in need.
  2. And the school’s $21 billion endowment fund (compared to the average private-college endowment of around just $26 million).

But what about the rest of us who can’t (or don’t want to) attend Stanford? What can we do?

Well, at the moment, there are a few ideas being tossed around.

In January, President Obama proposed that all Americans be allowed to attend two years of community college at no cost.


Students help build a strong economy & middle class. They should get the same loan rate as big banks #BankonStudents pic.twitter.com/ZT6lMJkxKm Elizabeth Warren (@SenWarren) May 8, 2013

Again, unfortunately, the bill never came up for a vote in the Senate.

More than ever, programs like Stanford’s are needed but for all students.

No matter how financially well-off or challenged people might be, if they want to attend college, they should be able to without having to worry about carrying around a massive debt for the rest of their lives.

Learn more about Stanford’s new tuition program in the video below:

Read more: http://www.upworthy.com/as-the-cost-of-college-skyrockets-one-school-has-a-radical-new-plan-a-free-education?c=tpstream

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