Hello! I've heard that some colleges in the northeast offer substantial financial aid packages. I'm in the process of making my college list, and cost will definitely be a big factor for me. Can anyone suggest some colleges known for their generous financial aid? Any help would be appreciated!
Sure, the Northeast has several colleges known for their generous financial aid. Let's break them down into a few categories:
Ivy League Schools: All 8 Ivy League institutions offer need-based financial aid and use a no-loan policy. What this means is that your entire demonstrated financial need is met without loans, reducing the debt you need to take on. For example, at Harvard, if your family makes less than $85,000 per year, the cost of attendance is zero.
Private Liberal Arts Colleges: These smaller-sized colleges are also known for their generous financial aid. Amherst College, for instance, is one of only a handful of colleges in the US that have an endowment large enough to support a no-loan policy in practice, which means it provides scholarships and work-study but no loans in its financial aid packages.
Non-Ivy/Other Private Institutions: Beyond Ivy League and small liberal arts colleges, there are other private universities that are also generous with financial aid. For example, Massachusetts Institute of Technology (MIT) offers need-blind admission for international students as well, providing them with the same access to university funding that U.S. students have.
State Universities: Lastly, some state universities in the Northeast also offer substantial aid. University of Vermont, for instance, offers several merit-based scholarships, with their most prestigious award covering full tuition, fees, room and board.
It is highly advisable to use the net price calculators (NPC) on the website of every college you're interested in. NPCs will provide an estimate of how much a student like you would pay after accounting for financial aid. Remember, the price tag of a college is not what most students pay, especially at these colleges which are committed to making their institutions affordable regardless of family income.
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