Hey everyone, I'm starting to look into colleges, but I'm kind of on a tight budget. So do you know which colleges give the most need-based financial aid?
Several colleges are known for awarding sizable need-based aid, these include Ivy League institutions and several private liberal arts colleges. Here's a quick rundown of a few stand-out schools:
1. Harvard University: Families who earn less than $85,000 per year pay nothing towards the cost of attendance. Families who earn between $85,000 and $150,000 per year will pay between 0 and 10% of their annual income.
2. Princeton University: They replaced loans with grants in their aid packages, which means if you qualify for aid, you'll only receive scholarships and work-study as part of your award.
3. Stanford University: Like Harvard, families with incomes below $125,000 pay no tuition, and those earning below $65,000 pay no tuition, room, or board.
4. Vanderbilt University: They follow a need-blind admission policy and meet 100% demonstrated need without loans.
5. Amherst College: They use grants instead of loans to meet full demonstrated need.
6. The University of Chicago: Their "No Barriers" program ensures that students from all backgrounds can graduate debt-free.
Remember, even smaller schools or state schools might have great financial aid offerings, especially if they have a strong endowment. It's always a good idea to use the net price calculator available on each school's financial aid website to get an estimated aid package before applying. This can give you a better idea of what you might end up paying out-of-pocket at each institution. The best financial aid package for you might depend on your specific financial situation!
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