applications for undergraduate admission topped 20,000 for the first time this year. Just under 12 percent—2,412—of the 20,194 applicants were admitted.

Undergraduate tuition, too, has reached a milestone. In 2005-06, it will pass the $30,000 mark for the first time, rising 4.5 percent from $29,847 to $31,200. Standard room and board will total $9,932, also a 4.5 percent increase.

Forty-six percent of undergraduate students receive need-based financial aid from the University. President John Hennessy announced on March 31 that within five years, Stanford would like to eliminate parental contributions for those earning less than $45,000 per year. The University also has a long-term goal to extend its need-blind admissions policy to international students.