I’ll need significant financial aid for college. Can anyone suggest universities that are known for offering the most financial aid to their students? I’m curious about both need-based and merit-based aid.
Sure, many universities are known for their substantial financial aid packages. However, please check each school's net price calculator to get an estimate of your expected family contribution.
For need-based aid, universities including Harvard, Princeton, Yale, Stanford, and the Massachusetts Institute of Technology (MIT) have strong financial aid programs. A key aspect of these institutions is that they are need-blind for all students, including international ones, and they provide 100% of the demonstrated need.
Harvard, in particular, has a generous policy where families who earn less than $85,000 per year pay nothing towards the cost of attendance, and those earning between $85,000 and $150,000 annually will pay between 0 and 10% of their income.
As for merit-based aid, universities like Duke University, Vanderbilt University, Tulane University, Boston University, and the University of Southern California often offer significant scholarships to high-achieving students. For example, Vanderbilt offers three signature scholarships (the Ingram Scholars Program, the Cornelius Vanderbilt Scholarship, and the Chancellor's Scholars Program) covering full tuition plus a one-time summer stipend for immersive experiences.
Remember, merit scholarships are highly competitive, so it will take more than just good grades and test scores to win them. Demonstrating a high level of involvement and leadership in your extracurricular activities will be important in standing out from other candidates.
Lastly, many colleges have programs that meet 100% of the demonstrated need for all admitted students. These schools are often (but not always) among the most selective, so competition for admission can be fierce.
Remember that every university's financial aid policy is unique, so be sure to thoroughly research each school's policies and practices.
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