Stanford Policy for Middle Income Parents - Free if you're under $60,000

Are you sunk if your parents make $60,000-$100,000? My dad only made $20,000 on one income in the mid 1970s, which was about half the cost of a house or 10 times what a cheap car cost. With 7 kids, we managed to get into MIT and Stanford for pretty much $1,000 for the first kid for the first year, with annual cost of something like $6,000, which would be 1/3 that salary. They paid no contribution after that. Now $100,000 won't buy you any houses in Seattle, and will only buy you maybe 6 new cars.

Colleges are now bending over to make a deal if you're considering sending your kids to the "cheap" state college. Here's Stanford's deal according to their viewbook:

Stanford costs in 2009: Cost $37,380 tuition, $11,463 room and board, $3,385 personal, $1,485 books and supplies, orientation fee $438 Campus Health Service fee $501, total $53,652, or half of what a $100,000 family makes before taxes are taken out.

• Parents earning under $60,000 will not have to contribute anything
• $60-$100,00 will pay somewhere between $0 and cost of room and board. Tuition will cover tuition
• I guess if you make over $200,000 you'll have to pay a lot.
• Student expected to pay 5% of savings anually, contribute $4,500 in scholarships, summer or academic year earnings, or student loans. So if your kid has saved up $1000 in birthday money for a bike, they won't take it all.

Stanford requires CSS Profile by Feb 15 (Nov 15 early), FAFSA by Feb 15 (March 1 early)