The first goal of universities charging to cover their costs. Stanford isn't pocketing that 1.8 million.
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Maybe my opinions are a bit baised as a student who spent over $400 in fees applying to colleges.
I would have assumed that my universities' costs would be offset by the $40,000 I'm paying every year for the next four years, rather than erroneous fees that aren't tallied in the advertised total cost of attendance.
The point of the fee isn't to make money. Imagine how many people would have applied if it were free? They still need employees to read all of those applications and they need to keep the quality of student up as high as possible (so they can't just outsource it, or use a lottery).
Basically, your tuition could be even higher if they dropped the fee to apply.