Does being REALLY poor help your chances at Stanford?

[pablito3]

<p>My parents earn like 45 thousand combined and im mexican. Does that help a lot in the admissions process. I know that isnt the only thing that counts, but i was just wondering.</p>

[hpa10]

<p>I don’t think that’s considered * really* poor, but yes your ethnicity will help.</p>

[predictable]

<p>I don’t think that you should count too hard on your parents income to help you with admissions.</p>

[kyledavid80]

<p>45k is typically not “REALLY poor.” However, adversities due to a low income are taken into account and can help in admissions. It’ll help at most top privates, where low-income students are a minority. See this article:</p>

<p>[Admissions</a> dept. seeks rise in low-income students - The Stanford Daily Online](<a href=“http://daily.stanford.edu/article/2007/6/7/admissionsDeptSeeksRiseInLowincomeStudents]Admissions”>http://daily.stanford.edu/article/2007/6/7/admissionsDeptSeeksRiseInLowincomeStudents)</p>

<p>I’d encourage you to look into QuestBridge as well:</p>

<p>[QuestBridge</a> Home Page](<a href=“http://www.questbridge.org%5DQuestBridge”>http://www.questbridge.org)</p>

[pablito3]

<p>I’m sorry i just asked my parents and they earn a little below 40 thousand…
i read on the stanford website that 2/3 of the stanford families earn 100 grand or more so i think its very poor to stanford standards</p>

[ferretsforfrancs]

<p>It will only help if you can write really articulate essays explaining how your poverty has impacted your education, and they need to insightful. On it’s own, it won’t help you. You also need to have taken advantage of everything you could have, and have the extracurriculars and grades to back it up. It kind of concerns me when someone says “can I play this card?” </p>

<p>When I went through the process I had to articulately and intelligently analyze my background, because well… I didn’t have any trips to a foreign country to write about. So if it is a part of you, and something that has really affected your life, then writing about it (really really well) will help.</p>

[kyledavid80]

<p>

i read on the stanford website that 2/3 of the stanford families earn 100 grand or more so i think its very poor to stanford standards

</p>

<p>I don’t know where you read that, but that’s definitely not true. Even before Stanford extended its financial aid policies to families making up to $120k or $150k (this year), roughly 75% students were on financial aid (meaning about 25% made more than $100k). Low-income students are still the minority–about 12% are Pell Grantees (2x the number at Harvard), but $100k+ students don’t dominate the student body.</p>

[ferretsforfrancs]

<p>Kyle,
Those numbers include a lot of people, including those who have taken out loans (people that could be making more then 100,000 a year). Even before Stanford’s new policies my boyfriend, whose parents combined, make about 150,000 a year was receiving amazing financial aid. The reality is that the majority of Stanford students do come from homes making that much. I’ve seen it quoted in a Stanford news article that only 30% of the incoming class was actually eligible for the new 100,000 and less financial aid policy. </p>

<p>In practice financial aid didn’t change much for the families making under 100,000 a year, Stanford just make it formal, standardized and sent out a press release.</p>

[pablito3]

<p>just because they have financial aid doesnt mean they dont earn that much… stanford offers amazing financial aid… even to those who are 100k plus</p>

[kyledavid80]

<p>

Those numbers include a lot of people, including those who have taken out loans (people that could be making more then 100,000 a year).

</p>

<p>a) Stanford does not give out loans as part of its financial aid, and b) those who voluntarily choose to take out loans are typically not included–it’s the grants and work-study that are usually included in such figures. (Almost nyone, even a family that makes 200k+, can take out loans.)</p>

<p>

The reality is that the majority of Stanford students do come from homes making that much.

</p>

<p>No, that simply is not true. The data doesn’t even support it. Before Stanford’s financial aid policy was extended to families making up to $120k and then, the next year, $150k, roughly 75% were on financial aid. That means that roughly 75% of the student body makes less than $100k/year.</p>

<p>

I’ve seen it quoted in a Stanford news article that only 30% of the incoming class was actually eligible for the new 100,000 and less financial aid policy.

</p>

<p>Why don’t you provide a link to that article? I’ve never read that, and it blatantly contradicts the same data that is released from many reliable sources. I can point you to the sources that support my claims, if you would like (IPEDS, Stanford financial aid office, etc.).</p>

<p>

In practice financial aid didn’t change much for the families making under 100,000 a year, Stanford just make it formal, standardized and sent out a press release.

</p>

<p>Actually, it wasn’t just “formal”; the budget for financial aid had to be increased significantly for this policy, which is partly why the endowment payout has been increased to 5.5%.</p>

[ferretsforfrancs]

<p>Dude, there are a lot of people making more than 100,000 that are getting financial aid. As part of their financial aid policy they also increased aid for those making more that 100,000, up to 200,000 (and are willing to negotiate for people making more than that). And Stanford does give loans, I know because I have one in my aid package, as does my boyfriend.</p>

<p>I get the articles for you later, but right now I have to go to work. I just wanted to make sure that you understood that not everyone in that 75 percent is making less than a hundred thousand, they could be making roughly about 300,000 combined and probably still be getting aid Stanford.</p>

[kyledavid80]

<p>

Dude, there are a lot of people making more than 100,000 that are getting financial aid.

</p>

<p>How many? Provide a statistic.</p>

<p>

As part of their financial aid policy they also increased aid for those making more that 100,000, up to 200,000 (and are willing to negotiate for people making more than that).

</p>

<p>Source? Dean Shaw has said that aid extends for those making up to $150k. Not even Harvard gives aid to families with incomes up to $200k (their policy extends to $180k), given normal assets.</p>

<p>

I just wanted to make sure that you understood that not everyone in that 75 percent is making less than a hundred thousand, they could be making roughly about 300,000 combined and probably still be getting aid Stanford.

</p>

<p>And I just wanted to make sure you know you’re wrong. I highly doubt a student with an income of $300k would get aid, unless that person is an athlete; Stanford does give out some merit-based athletic scholarships. Otherwise, it’s need-based, and this year’s financial aid extends to those making $150k (reduced tuition). Last year, that bar was at $120k, and even lower before that. Yet still roughly 75% students were on need-based aid.</p>

<p>

And Stanford does give loans, I know because I have one in my aid package, as does my boyfriend.

</p>

<p>If you have a loan, by the way, it’s because you chose to. Stanford does not give out loans as part of their financial aid, though families may choose to take out loans if they don’t want to pay.</p>

<p>I don’t have any loans. I don’t know anyone who does, either, after this new policy was started.</p>

[Morsmordre]

<p>kyledavid, I’m sort of curious where you got the data that 75% of the kids at Stanford are receiving Stanford need based FA. I always thought it was between 40-50% receiving need-based aid looking at CB. And FA was definitely granted to people making 120k-150k (and probably even over 150k) at Stanford way before the new initiative. And I personally know that people from families making very near 200k (I’m sure it’s the same at HYP from my friends that attend there) get good FA at least this year. I don’t know what the true numbers are, but 75% making under 100k does not seem reasonable for a top flight private university. Though I am sort of skeptical that only 30% make under 100k that number seems way more reasonable.</p>

[Morsmordre]

<p>Kyledavid, this is the article I assume ferretsforfrancs was talking about:</p>

<p>

According to Cooper, 30 to 35 percent of the undergraduate population comes from families earning under $100,000, 15 to 20 percent from families earning under $60,000.

</p>

<p>[Aid</a> office details changes - The Stanford Daily Online](<a href=“http://daily.stanford.edu/article/2008/2/25/aidOfficeDetailsChanges]Aid”>http://daily.stanford.edu/article/2008/2/25/aidOfficeDetailsChanges)</p>

<p>I know that sounds mind-boggling, but man Stanford kids are pretty affluent by U.S., non-McCain standards. ;)</p>

<p>So pablito, you were right, about 2/3 of Stanford kids come from families that make more than 100k. That being said, you should look into kyledavid’s advice. Obviously it’s going to help your chances, but don’t expect to get in solely because of that.</p>

[kyledavid80]

<p>And here was my source:</p>

<p>[College</a> Navigator - Stanford University](<a href=“College Navigator - Search Results”>College Navigator - Stanford University)</p>

<p>which is government-reported information. Other sources in Stanford’s financial aid office reflect this. I’m not sure why the numbers are in such stark disagreement.</p>

<p>The 15-20% figure also contradicts statistics released by the financial aid office that only about 13% of the students make under $60,000. So I’m not sure what the source of the statistics in that article are.</p>

<p>

And FA was definitely granted to people making 120k-150k (and probably even over 150k) at Stanford way before the new initiative.

</p>

<p>Then a) there were extenuating circumstances behind those (high medical debts, multiple students in college, few assets, etc.), or b) it was merit-based aid given to athletes.</p>

<p>

I know that sounds mind-boggling, but man Stanford kids are pretty affluent by U.S., non-McCain standards.

</p>

<p>Even up to $180-200k, that’s still in the middle class. When I think “affluent,” I think upper-middle or upper class. I’d say that’s a smaller percentage (10-20%).</p>

[Morsmordre]

<p>

which is government-reported information. Other sources in Stanford’s financial aid office reflect this. I’m not sure why the numbers are in such stark disagreement.</p>

<p>The 15-20% figure also contradicts statistics released by the financial aid office that only about 13% of the students make under $60,000. So I’m not sure what the source of the statistics in that article are.

</p>

<p>Well, if you look at your source you’ll see only 48% of kids receive institutional grants from Stanford. The problem in the statistic received from the FA office is that not all kids who make under 60k received institutional FA or applied for FA. That being said, 15% and 13% is not a big difference. </p>

<p>

Then a) there were extenuating circumstances behind those (high medical debts, multiple students in college, few assets, etc.), or b) it was merit-based aid given to athletes.

There was no way people would be expected to contribute the full cost if they made 120k without extenuating circumstances. I saw an article where they said that before the program a person coming from a family of 4 that makes 120k would be expected to pay 24k while now they will only be expected to pay 16k. I highly doubt someone making 150k would then have to go from 24k to 50k with only an increase of 30k in income (and really only 20k in non-taxable income).</p>

<p>

A family of three in Silicon Valley: This family has one child at Stanford. The father is a software executive, and the mother works as a receptionist. The parents would be asked to draw less from their annual income of $120,000 total and home equity of $560,000. Their parental contribution would decrease by one-third - $8,180 - to $16,135 from $24,315. Their daughter would no longer need to borrow $1,600, but would be asked to contribute the amount equal to the earnings from part-time work during the school year and a full-time summer job. The total scholarship would be $29,400, almost $10,000 more than the previous year.

[Stanford</a> drops tuition for some students](<a href=“http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/02/20/MNABV5LHM.DTL]Stanford”>http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/02/20/MNABV5LHM.DTL)</p>

<p>

Even up to $180-200k, that’s still in the middle class. When I think “affluent,” I think upper-middle or upper class. I’d say that’s a smaller percentage (10-20%).

</p>

<p>Yeah I agree.</p>

[kyledavid80]

<p>

Well, if you look at your source you’ll see only 48% of kids receive institutional grants from Stanford. The problem in the statistic received from the FA office is that not all kids who make under 60k received institutional FA or applied for FA.

</p>

<p>I’m not sure sure that’s the problem–if that were the case, I’d say it’s a very small percentage.</p>

<p>

That being said, 15% and 13% is not a big difference.

</p>

<p>Well, it was more that Cooper said “15-20%,” when it wasn’t even at her stated lower bound.</p>