With notable alums including everyone from U.S. President Herbert Hoover to technology entrepreneur and investor Peter Thiel, pursuing a degree at Stanford means you’ll be in the company of headline-making names. But how are you going to pay for it?
Perhaps you’re headed to the Stanford Graduate School of Business (GSB) to learn the ins and outs of the boardroom, or to Stanford Law School to pick up a gavel. Regardless of which renowned program, you’ll be a part of, do your research to learn both what you’ll have to pay and your options for paying for it.
How much does it cost to attend Stanford?
Stanford students can expect to pay close to Ivy League prices. For undergraduates in the 2015-2016 school year, tuition alone was $45,729, and the total cost of attendance was estimated to be near $65,000. Tuition for one year at the number one-ranked business school, the Stanford GSB, will cost a bit more at $64,050, with a total estimated cost of attendance at more than $100,000. Stanford’s Medical and Law Schools both charge in the mid-50’s per year for tuition alone.
What kind of financial aid does Stanford offer?
Stanford’s robust financial aid program for undergraduates assures that most students whose parents earn less than $125,000 pay no tuition and those with income below $65,000 pay no tuition, fees, or room and board. Even those families who do not fall into these salary ranges are eligible to benefit from federal grants, university scholarships, student employment, and outside scholarships. Many residents of California can also benefit from the Cal Grant program.
With the MBA program, for example, most students will finance the majority of their education with student loans. When it comes to business school, students typically choose from unsubsidized Stafford loans, Direct PLUS loans, and private student loans. No matter where you get your loan, make sure to compare interest rates and any hidden costs like origination fees.
The GSB does offer a general need-based fellowship, as well as the Charles P. Bonini Partnership for Diversity (P4D) Fellowship Program designed specifically for increasing diversity in the business environment. While financial aid offices typically reduce your scholarship award if you secure outside scholarships, the GSB won’t change your fellowship amount if you receive $15,000 or less from outside sources.
In general, you’ll pay for your Stanford education with some combination of scholarships, contributions from your parents (or your own savings), federal and/or private student loans, and student employment. The exact mix will depend on your program, so familiarize yourself with the specifics of your program.
- Stanford undergraduate financial aid
- Stanford Business School financial aid
- Stanford Law School financial aid
- Stanford Medical School financial aid
- Stanford Graduate School of Education financial aid
What kinds of extras should I expect to pay for?
Stanford does have a beautiful campus, but chances are you’ll find yourself wanting to explore San Francisco and the surrounding Bay Area in between your studies. Think about how much you might be spending on public transportation or car rentals to get around.
Greek life is another consideration, as 25% of Stanford undergraduates participate. While costs can vary, being involved in a fraternity or sorority can easily add into the thousands over the course of your undergraduate career.
If your plan to go home a lot (or perhaps on many business school trips), take into account not only the flights but also your transportation to and from the airport. Stanford is in between two airports, so price shop between the San Francisco International Airport and San Jose International Airport when booking flights.