School Affordability: Concern about Top 50 Most Expensive Colleges

Yo, I'm starting to hunt for the right college, but I'm worried about the cost. Can anyone provide insight on what makes the 50 most expensive colleges in the US so pricey? Any tips for affording them?

Hi there!

The cost of a college education can seem overwhelming at first glance. The reason top colleges are so pricey largely boils down to what they offer: Exceptional faculty, extensive resources, countless academic programs, research opportunities, and often beautiful, well-maintained campuses. Plus, they often have smaller student-to-faculty ratios, meaning you're getting a more personalized education, which also costs money.

Now, when it comes to affording these colleges, here are a few suggestions:

1. Financial aid: Despite the high sticker price, many of these colleges have extensive financial aid programs and are committed to meeting 100% of demonstrated student need. For example, schools like Harvard, Yale, and Stanford have policies in place that ensure families with an income below a certain threshold pay nothing towards tuition. Always make sure to use each college’s 'Net Price Calculator' (usually found on their financial aid webpage) to get an estimate of what your particular financial aid package may look like.

2. Scholarships: In addition to need-based aid, some scholarships are based on academic, athletic, or artistic achievement (among other things). Start looking for scholarships early – some require you to apply well in advance of the college application.

3. Work-Study Programs: Many colleges offer work-study programs as part of their financial aid packages. These are part-time jobs, often on campus, for eligible students to earn money to help pay education expenses.

4. Community College Transfer: Consider starting at a community college and then transferring to a four-year college. This can substantially lower the overall cost of your bachelor's degree, and several top colleges, including many in the Ivy League, accept transfer students.

Remember, while the sticker price of these schools may be high, the actual cost to you could be considerably lower depending on your financial circumstances. Don't rule out a school simply because of its initial price tag!

Keep in mind - it's also important to pursue colleges that are a good fit for you acadically. You'll more likely succeed and make the most out of your college experience if you choose a school where you'll thrive.