College prices are absolutely outrageous. NYU, for example, now costs over $70,000 for ONE year! Not surprisingly, many are questioning the value of college,
which is certainly logical when you consider making a $250,000 - $300,000
investment for a bachelor's degree. In many places in the US, you could
buy a very, very nice house on a large lot for less than that amount.
Be not afraid! Most families do NOT pay the
advertised price for college. Let's explore some more affordable, yet
very high quality, options. I'll address them in alphabetical
order. Each entry will end with a link to that school's financial aid
page.
Amherst College, Amherst, MA
Financial need is NOT considered during the
admissions process. A student's financial need, or lack thereof, will not
impact admissions chances.
Amherst College's admissions approach is "high
need affirmative." This means that, if all other factors are equal, the
college will give preference to first generation students.
Amherst provides generous financial aid
packages. All students can graduate debt free. Amherst works with
QuestBridge for students with very limited means. They meet 100% of
demonstrated need for both American and international students. Amherst
does not include loans in its financial aid packages.
58% of Amherst's students receive aid.
https://www.amherst.edu/admission/financial_aid
Barnard College, New York, NY
Barnard has a need blind admissions policy.
Barnard awards no merit aid but does meet 100% of
demonstrated financial need. Applicants must apply for aid when they
apply for admission, not after they are admitted. Barnard does include
loans in its financial aid packages.
http://barnard.edu/sites/default/files/financial_aid_fact_sheet_heop.pdf
http://barnard.edu/finaid/general-policies
Bowdoin College, Brunswick, ME
Bowdoin has the "Explore Bowdoin" program
which encourages high achieving students to visit the campus for three days by
covering the entire cost of the trip. For more information: http://www.bowdoin.edu/admissions/explore/
Bowdoin does not consider financial need during the
admissions process. A students' ability to pay will not impact the
admissions decision.
Bowdoin no longer includes loans in its financial aid
packages. Bowdoin meets 100% of demonstrated need with grant/scholarship
assistance and a small work award.
Nearly half of Bowdoin students receive need based financial aid. (46% of the Class of 2018)
http://www.bowdoin.edu/studentaid/index.shtml
Brown University, Providence, RI
Brown also uses need blind admissions policies,
ensuring that a student's ability to pay will not impact his or her chances of
admission.
Brown meets 100% of demonstrated need. For families
with a total income below $60,000, and assets less than $100,000, no parent
contribution is calculated towards the Expected Family Contribution (EFC).
(This lowers the EFC, increasing the family's financial aid eligibility.)
For families with total income below $100,000, the loan component of the
financial aid award is replaced with additional scholarship. (No loans are
included in the package.) For families with total income below $150,000,
reduced loans are included in the aid package. Brown offers free tuition,
room, and board for families making less than $60,000 per year.
42% of the Class of 2019 receive need based aid.
https://www.brown.edu/about/administration/financial-aid/financial-aid-basics
California Institute of Technology, Pasadena, CA
All of CalTech's financial aid is awarded based on
need. CalTech meets 100% of demonstrated financial need.
52% of Cal Tech students receive need based aid.
http://www.caltech.edu/content/financial-aid
Columbia University, New York, NY
Free tuition, room, and board for families making less than $60,000.
Cooper Union for the Advancement of Science & Art, New York, NY
Cooper Union has a need blind admissions policy.
Every admitted student is awarded a half tuition scholarship and is eligible for additional merit aid. Need based aid is also available
http://cooper.edu/admissions/financial-aid
Cornell University, Ithaca, NY
Cornell has need blind admissions for American applicants.
Cornell does not give merit based aid but does meet
all documented need. Cornell includes loans in its financial aid
awards. Families making less than $60,000 are given free tuition, room,
and board.
66% of students receive aid.
http://admissions.cornell.edu/costs-and-aid
Dartmouth College, Hanover, NJ
Dartmouth has a need blind admissions policy for all US applicants.
Dartmouth meets 100% of demonstrated need. At Dartmouth, free tuition is provided for students from families with total incomes of $100,000 or less—and possessing typical assets. Loans are not required in their financial aid offer.
http://admissions.dartmouth.edu/financial-aid/how-aid-works/how-much-help-will-i-get
Duke University, Durham, NC
Duke gives preference to first generation students
and participates in the Say Yes to Education program, offering full tuition
support to accepted Say Yes scholars with an annual family income under
$75,000.
Duke meets 100% of American students' demonstrated
need and does not consider financial need in the admissions process. Duke
limits the amount of loans in its financial aid packages. Families making
less than $60,000 get free tuition, room, and board.
55% of Duke students receive aid. The average scholarship is $46,315.
http://admissions.duke.edu/application/aid
https://financialaid.duke.edu/
Georgetown University, Washington DC
An undergraduate applicant's ability to pay tuition is not a criterion for admission at Georgetown.
In 1978, Georgetown began its historic commitment to
meet the financial need of every undergraduate
who merits admission. The University works to provide eligible students 100% of
their demonstrated financial need through scholarships, loans and other forms
of assistance. Our practices mean that every eligible undergraduate student,
once accepted, can afford to enroll.
Each year over half of Georgetown undergraduates receive some form of financial assistance.
http://www.georgetown.edu/
Harvard College, Cambridge MA
Harvard provides generous financial aid
packages. All students can graduate debt free. More than 20% of
Harvard undergrads' families pay NOTHING. Financial need is NOT
considered during the admissions process. Therefore, your financial need,
or lack thereof, will not impact your admissions chances.
All of Harvard's financial aid is based on financial
need, with none being awarded for academic merit. Families with total
incomes under $65,000 pay no tuition, room, and board. Harvard works
closely with each family to ensure each admitted student can attend. They
expect families who earn between $65,000 and $150,000 to contribute up to 10%
of their income. Families with significant assets are asked to pay more
as are families with incomes over $150,000. Home equity is not
considered, nor are retirement assets. Harvard does not include loans in
its financial aid packages. They meet 100% of demonstrated need for both
American and international students.
Over 60% of Harvard undergraduates receive aid. Their four year graduation rate is 97%.
https://college.harvard.edu/financial-aid
Harvey Mudd College, Claremont, CA
Through the Future Achievers of Science and
Technology program, students from traditionally underrepresented
populations in the STEM fields can visit for free. They are also granted
an application fee waiver.
Harvey Mudd has a need blind admissions policy for
all domestic applicants. They also meet 100% of demonstrated financial
need and have merit scholarships available. Harvey Mudd does include
loans in its financial aid awards.
76% of Harvey Mudd students receive financial aid.
https://www.hmc.edu/admission/afford/
Haverford College, Haverford, PA
Haverford does not consider financial need during the admissions process.
Haverford meets 100% of demonstrated financial
need. More than 50% of students receive a college grant, with the average
grant being over $40,000. Students with family income below $60,000/year
will not have loans included in their financial aid package; loan levels for
incomes above $60,000/year range from $1,500 - $3,000 annually.
56% of Haverford students receive some form of financial aid
https://www.haverford.edu/admission/tuition-and-aid
Massachusetts Institute of Technology, Cambridge, MA
In addition to practicing need blind admissions, MIT
meets 100% of demonstrated need. The six year graduation rate is
93%. Families making less than $75,000 per year don't pay tuition.
91% of undergraduates receive some sort of aid. 33% receive awards totaling more than tuition.
http://sfs.mit.edu/
Middlebury College, Middlebury, VT
Middlebury is need blind in admissions and meets 100%
of demonstrated need for all admitted students. They do include loans in
their financial aid packages. Middlebury limits the endebtedness of its low
income students. Middlebury does not offer any merit based financial aid; all
aid is given based on financial need.
http://www.middlebury.edu/offices/support/sfs/faqs
Franklin Olin College of Engineering, Needham, MA
Olin's admissions is need blind; they do not consider a student's ability to pay during the admissions process.
Olin college is committed to meeting full the financial need of its students. Every student is offered a $93,000 tuition scholarship for eight semesters of study. This scholarship covers half of the tuition costs. In addition to that scholarship, 100% of demonstrated financial need will be met with aid.
47% of Olin's students qualify for need based aid.
http://olin.edu/admission/costs-financial-aid/
Princeton University, Princeton, NJ
Princeton has a need blind admissions policy for US and international applicants.
Princeton eliminated loans from its financial aid packages in 2001, the first university to do so. We determine a family's ability to pay using Princeton's own need formula, with fair and generous individual results. Princeton offers full ride scholarships (covering tuition, room, and board) for families making $54,000/year or less. Families making more than $54,000 but less than $120,000 per year, Princeton gives full tuition scholarships.
60% of students receive financial aid. Class of 2019's average grant: $46,000+
http://admission.princeton.edu/financialaid
Rice University, Houston, TX
Rice has a need blind admissions policy and meets the full demonstrated need of its students. Rice does include loans in its financial aid packages. Rice partners with QuestBridge for low income students.
http://futureowls.rice.edu/futureowls/DACA_and_Undocumented1.asp
http://financialaid.rice.edu/
Stanford University, Stanford, CA
Students with family incomes less than $125,000 are expect to pay nothing toward tuition. Stanford does not consider financial need when making admissions decisions. Families making less than $65,000 are not expected to pay for tuition, room, or board.
71% of Stanford students receive financial aid. Their four year graduation rate is 95%. Last year, 47% received need-based aid from Stanford and paid an average of $13,600 toward their bills.
http://financialaid.stanford.edu/undergrad/
Swarthmore College, Swarthmore, PA
Swarthmore has partnered with QuestBridge to assist low income students.
52% of students receive financial aid.
Tufts University, Medford, MA
Tufts partners with QuestBridge to help low income students attend the university.
Tufts does not offer merit aid. Tufts includes loans in its financial aid packages.
http://admissions.tufts.edu/apply/first-year-students/
University of Pennsylvania, Philadelphia, PA
Penn has a need blind admissions policy.
Penn strives to meet the full financial need of traditional undergraduate students with an all-grant aid policy. Penn does not include loans in its financial aid packages for dependent students whose families' incomes are less than $50,000.
http://www.sfs.upenn.edu/announcements/announcements-penn-finaid-initiative-expanded.htm
http://www.upenn.edu/almanac/volumes/v52/n27/admissions.html
Vanderbilt University, Nashville, TN
Vanderbilt makes three important commitments to U.S. Citizens and eligible non-citizens to ensure that students from many different economic circumstances can enroll at Vanderbilt:
First: Since talent and promise recognize no social, cultural, economic, or geographic boundaries, our admissions process is need-blind for U.S. Citizens and eligible non-citizens.
Second: Vanderbilt will meet 100% of a family’s demonstrated financial need.
Third: Financial aid awards do not include loans. Instead of offering need-based loans to undergraduate students, Vanderbilt offers additional grant assistance.
http://vanderbilt.edu/financialaid/Vassar College, Poughkeepsie, NY
Vassar has a need blind admissions policy.
Vassar meets 100% of the demonstrated need of all admitted students and eliminates or reduces loans in the financial aid packages of low income families. Some families receive over $60,000 in financial aid.
Nearly 60% of Vassar students receive financial aid.
http://admissions.vassar.edu/financial-aid/
Washington University in St. Louis, St. Louis, MO
Wash U meets 100% of demonstrated need for all its students. Entering first-year students and returning full-time undergraduate day-school students with parental incomes of less than $75,000 annually are not awarded need-based loans and instead receive grants from the university that will not have to be repaid. Families with parental income somewhat higher than $75,000 also may receive additional student loan relief based on demonstrated need and their financial circumstances.
https://admissions.wustl.edu/footernav/financial-aid-scholarships
Wesleyan University, Middletown, CT
Wesleyan does not consider financial need in the admissions process.
Wesleyan meets 100% of demonstrated need. They do include loans in their financial aid awards. All financial aid is need based.
http://wesleyan.edu/finaid/ProspectiveApplicants/index.html
58% of students receive aid.
Williams College, Williamstown, MA
Windows on Williams (WOW) gives high school seniors the opportunity to spend three all-expenses-paid days at Williams. WOW is a selective program open to high school students in the U.S. and Puerto Rico; preference is given to high-achieving students who couldn’t otherwise afford to visit Williams.
Williams practices need blind admissions. They admit the most qualified and compelling students without regard for their ability to pay—a family’s financial circumstances will never play a role in their admission decision. Williams also partners with QuestBridge to assist low income students to study at Williams.
Williams meets 100% of demonstrated need. There are no hidden costs at Williams. Once you’re here—no matter how much financial aid you receive—you’ll have access to the same opportunities as every other Williams student. Financial aid is portable and can be applied to study away programs as well as Winter Study trips and projects. It covers 100% of the cost of books and course materials so the price of books will never be a factor in the courses you choose. The college also subsidizes most campus events. You’ll attend parties for free, movies for $1, and major concerts and events for less than $5—making the cost of living at Williams far lower than at almost any other campus.
Nearly half of their students receive aid.
http://admission.williams.edu/affordability/
Yale University, New Haven, CT
Yale admits students without regard to financial ability to pay for the costs of a Yale education.
Yale's financial aid is given on the basis of financial need. No merit aid is given. Yale’s financial aid policies ensure that 100% of every student’s demonstrated need is met with a package that does not include loans. The main component of Yale’s undergraduate gift aid is the Yale Scholarship, a type of need-based grant, but a financial aid award may include other grants and outside scholarships. For costs not covered by scholarships and grants, students and their families have options such as campus jobs and education loans. Family's making less than $65,000 are given free tuition, room, and board.
In 2015/16, the average scholarship was $43,989.
64% of students receive financial assistance.
http://finaid.yale.edu/costs-affordability/types-aid-and-other-financial-resources
