Stanford cuts financial aid budget - CARMEN LU, Yale Daily News

Stanford’s financial aid budget will shrink for the first time in over a decade as the university attempts to bridge its budget shortfall, the Stanford Daily reported Thursday. Under a new budget strategy that is expected to save Stanford $2.5 million in aid money next year, the expected student contribution for those on financial aid will increase by $250 to $4,750. Families with annual incomes above $200,000 will also face a tuition hike. Meanwhile, the minimum campus wage will increase by two percent to $12 per hour.