Hey everyone, I've been accepted into several private colleges and I'm in the process of figuring out financials. Which private colleges give the most financial aid? Do you guys have any tips or advice on how to best approach this?
Based on data, many Ivy League institutions, and elite private colleges, are known for their generous financial aid policies.
For example:
1. Princeton University: Princeton touts a 'no loan' policy, ensuring that 100% of the demonstrated financial need of undergraduate students will be met, only with grant aid, not with loans.
2. Harvard University: If your family earns less than $85,000 annually, Harvard will cover your study costs completely. Families with incomes between $85,000 and $150,000 will spend between zero and 10% of their income on education.
3. Yale University: Yale also follows a similar policy. If your family's annual income is a figure less than $75,000, parents aren't expected to contribute towards the cost of a Yale education.
4. Columbia University: At Columbia, families with calculated incomes below $150,000 (excluding assets) are expected to make no contribution towards cost of tuition.
5. Stanford University: For families earning less than $65,000, Stanford typically expects no parental contribution towards tuition, room, or board.
6. Amherst College: As one of the few need-blind, meets-full-need colleges, Amherst extends robust aid to students who demonstrate financial need.
7. Vanderbilt University: Vanderbilt as well follows a no-loan policy, and commits to meeting 100% of demonstrated financial need, relying on grants and scholarships.
Financial aid packages can vary greatly depending on your individual circumstances. So, it can be useful to use each college’s net price calculator (NPC), which is generally available on their website, to get an estimate of what you might receive.
Since many of these colleges have need-blind admission and full-need met policies, they aim to make it financially possible for admitted students to attend, regardless of their economic circumstances. Keep in mind that financial aid is evaluated on an annual basis, so apply each year, even if you didn't qualify in the past.
Lastly, don't forget to check out external scholarships or state scholarships as another avenue to secure funds for college. Happy planning!
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