Hey there, I'm currently a junior with many out-of-state colleges on my radar. I understand the cost might be higher, so I'm wondering which colleges are known for giving substantial financial aid to out-of-state students?
Absolutely, many colleges do indeed offer significant financial aid to out-of-state students. Here are a few:
1. Princeton University: Considered one of the wealthiest universities in the United States, Princeton guarantees to meet 100% of demonstrated need of all admitted students, regardless of whether they're in-state or out-of-state.
2. Harvard University: The college’s robust financial aid program ensures that families who earn less than $65,000 annually aren't expected to contribute towards tuition. Those earning between $65,000 and $150,000 pay between 0 and 10% of their income.
3. Stanford University: Like Harvard, Stanford also offers generous financial aid. Families with total annual income below $125,000 and assets below $300,000 (excluding retirement accounts) have zero parent contribution.
4. Massachusetts Institute of Technology (MIT): MIT commits to meeting the full demonstrated need for all admitted students. Over 70% of MIT undergraduates receive financial aid.
5. Yale University: Yale meets 100% of demonstrated financial need for all students, regardless of citizenship or immigration status. Families whose earnings are less than $75,000 are asked to make no financial contribution.
6. Columbia University: Columbia University maintains a need-blind admissions policy for all applicants. This also means that the college commits to meet 100% of the demonstrated financial need of all admitted first-year students.
7. Amherst College: Long known for its commitment to socio-economic diversity,
Amherst also is committed to meeting 100% of demonstrated need of all admitted students.
Remember that financial aid packages can vary greatly based on the particular circumstances of the prospective student, their family's financial situation, and even the college's available funds in a given academic year. A useful tool to estimate your expected family contribution to college costs is a net price calculator, which you can generally find on a college's official website.
Moreover, this is not an exhaustive list, and many other colleges also provide substantial financial aid to out-of-state students. So, it's a good idea to reach out to college admissions and financial aid offices, to get a clearer picture of what you might expect in terms of aid from each specific institution.
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