Stressing out a bit over here about college costs... 😓 Anyone out there have a list or recommendations for colleges known to award a significant amount of financial aid?
Financial aid can greatly influence which college you attend, and it's smart to take that into account while making your list. Here are some colleges known for their generous financial aid:
- Princeton University: Of all the Ivy League schools, Princeton stands out with its unmatched financial aid policies. They were the first to replace loans with grants in financial aid awards, so students could graduate debt-free.
- Yale University: Yale meets 100% of demonstrated financial need without loans.
- Stanford University: Stanford guarantees free tuition for families making less than $150,000 per year, and free tuition, room, and board for families making less than $65,000 per year.
- Massachusetts Institute of Technology (MIT): Similar to Stanford, MIT provides free tuition for families earning less than $90,000 annually, and meets the full demonstrated need for all admitted undergraduates.
- Vanderbilt University: Vanderbilt has replaced all need-based undergraduate student loans with grant aid in their financial aid packages. This means you can potentially graduate debt-free.
While these are some of the more generous schools, remember each institution will calculate your financial need differently. If cost is a major concern for you, a good strategy is to apply to several schools with different tiers of selectivity and generous financial aid policies. Also, remember to use the Net Price Calculator on each college's website, which can give you an estimate of the financial aid you might receive if admitted.
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