Stanford Admissions Sets Records

This year, 25,298 prospective students applied to Stanford—the most in the school's history and almost 3,000 applicants more than the 2006-07 session, the Stanford Daily reports. Also, the school admitted 2,400 students, resulting in a record-low, 9.5 percent acceptance rate. "The competition for admission to Stanford this year was unprecedented," says the dean of admission and financial aide.

Stanford's surge in popularity can be partially attributed to an extended application deadline (by two weeks) and use of the Common Application, plus a well-publicized boost in financial aid offerings for middle-class students—free tuition for families earning less than $100,000 each year and free tuition, room, board, and fees for families earning less than $60,000 each year.