Hi all, I'm a junior who's starting to freak out about college costs. Looking for any advice or experience with colleges that offer a significant amount of need-based aid. Thanks!
No need to freak out! There are quite a few resources and strategies you can use to manage the cost of college. Firstly, consider starting by looking into schools known to meet 100% of demonstrated need. The Ivy League schools are well-known for these programs, and some other top colleges like Stanford, MIT, and Amherst, are generous as well.
For example, a place like Stanford University commits to covering all tuition costs for families who make under $150,000 a year, and the families who make under $65,000 are not expected to contribute to tuition, room, or board. Harvard also has a similar program where families who earn less than $85,000 per year pay nothing towards the cost of attendance.
Secondly, make sure to complete the FAFSA as soon as possible after it opens (October 1st), as this will make you eligible for federal aid and is also often used by schools to determine institutional aid. Since the FAFSA now uses the Student Aid Index (SAI) instead of the Expected Family Contribution (EFC), it may be helpful to read up on how this could change your estimated financial aid.
Lastly, use net price calculators on college websites to get an estimate of what you might be expected to pay at different institutions. Many schools have their own specific policies and calculator tools regarding financial aid, so it could be beneficial to check out their sites directly. These are just a few steps towards navigating the financial side of college, and they could be quite useful for you.
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