The stereotypes are definitely not accurate. While the school was Buddhist inspired (the founder was a well-known Tibetan Buddhist teacher) no one is required to be Buddhist or religious in any way. Meditation is utilized in some classes (more so in the religious studies classes than in others). The founding background of Naropa helps to highlight contemplative education as a real need in society. Scholarships and grants abound here at Naropa, so you don't need to be rich to go here. I would go here if that was the case.
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