Stanford University has become the latest top university to announce that it will no longer consider home equity when calculating how much money a student and her family can afford to contribute toward a college education.
The university's announcement quoted Stanford's board chair, Jeffrey S. Raikes, as explaining the change this way: “Stanford is committed to meeting the full demonstrated need for every admitted undergraduate who qualifies for financial aid, without expecting them to borrow to meet their need. Removing home equity from the financial aid calculation is the first of what we expect will be several additional steps to further enhance our undergraduate aid program in the next few years.”
