How Can I Manage if I Choose One of the Most Expensive Colleges in America?

Hey all, the dream would definitely be to attend one of the very best colleges in The States, but, well... They don't come cheap. I came across a list of the most expensive colleges in America. So, if I do end up at one of these institutions, what are some ways or scholarships/grants I should be aware of to help manage such high cost?

It's a great question, and taking into account college costs is critically important in the college selection process. While the sticker price of some colleges may seem daunting, many of these institutions have robust financial aid programs designed to make their education accessible to students from various economic backgrounds.

1. Institutional Financial Aid: Many expensive colleges offer significant need-based financial aid to students. Some even have no-loan policies, which means they replace all loans in financial aid packages with grants, which do not have to be paid back. For example, Yale's financial aid policy ensures that any family making less than $75,000 per year pays nothing for their child's education.

2. Merit Aid: Some colleges offer merit scholarships, which are awards based on academic, artistic, or athletic accomplishments, and do not take into account financial need. Merit scholarships can be an excellent way to offset some of the costs of expensive institutions.

3. Federal and State Aid: Make sure you fill out the FAFSA (Free Application for Federal Student Aid) to be considered for federal loans, grants, and work-study programs. State governments also often have their own set of grant and scholarship programs that you can apply to through the FAFSA.

4. External Scholarships: There are many scholarships outside of the college that you can apply for. These would be from companies, non-profit organizations, and foundations across the country. Sources like the College Board scholarship search or Cappex can help you find scholarships you're eligible for.

5. Work-Study: Many colleges, and even the federal government, offer work-study jobs to students as a part of their financial aid packages. This can be a great way to earn money to fund your education while also gaining some work experience.

It's also important to remember that applying to a number of colleges can provide some leverage when it comes to financial aid. You can use better financial aid packages from other colleges to negotiate with your college of choice to ensure that your needs are met.

In summary, while the sticker price might seem high, there are many avenues to explore to help fund your education at an expensive institution.