What is a Full Need College

I've heard the term 'full need college' being thrown around quite a bit lately. Can anyone here clearly explain what it means? Also, what are the benefits of attending such a college? Appreciate any info!

Certainly, happy to clear this up for you! A full need college refers to an institution that commits to meeting 100% of a student's demonstrated financial need if they are admitted. These schools assess your family's financial circumstances using forms such as the FAFSA or CSS Profile to determine your Student Aid Index (SAI). The difference between the college's stated cost of attendance (COA) and your SAI is your 'demonstrated need.'

Now, onto the benefits of attending a full need college. Given the rising costs of college education, these institutions can significantly reduce the financial burden for students who wouldn't otherwise be able to afford the total cost of attendance. This policy is also beneficial for middle-class families who might earn too much to be eligible for federal need-based grants, but not enough to cover the entirety of college fees without financial aid. And even though these colleges may require loans as part of your financial aid package, they often strive to keep loan amounts as low as possible, prioritizing grants and work-study opportunities instead.

The important thing to remember is that while these colleges commit to meeting "full need," they may not meet 100% of what you personally believe your need to be. Their calculation is based on a standardized methodology and may differ from your personal estimate of how much aid you need. Nevertheless, these colleges can significantly help in making higher education more accessible. Examples of full need colleges include prestigious institutions like Harvard University, Stanford University, and Vanderbilt University, among many others.