I'm a bit stressed about the financial side of college. My family isn't wealthy, and I'm worried about student loans. Do y'all know any top US colleges that are known for offering generous financial aid packages?
The financial side of college can indeed be daunting, so it's great you're researching schools known for generous financial aid!
There are several U.S. colleges that meet 100% of demonstrated financial need, allowing many students to graduate debt-free or with manageable debt. These schools include but are not limited to:
1. Princeton University: This school has a no-loan financial aid policy, swapping out loans for grants that don't need to be paid back.
2. Harvard University: Harvard’s Financial Aid Initiative supports families making under $65,000 with no expected contribution. Families earning between $65,000 and $150,000 contribute from zero to 10% of their income.
3. Yale University: Yale meets 100% of demonstrated need, and families earning less than $65,000 are not expected to make a contribution.
4. Stanford University: For students from families making under $125,000, tuition fees are fully covered, and below $65,000, room and board is also covered.
5. Massachusetts Institute of Technology (MIT): Families making below $90,000 a year pay nothing towards tuition.
6. Columbia University: Guarantees to meet 100% of all admitted first-year students' demonstrated financial need for all four years.
7. Dartmouth College: Dartmouth has committed to offering free tuition to families earning $125,000 or less annually.
8. Vanderbilt University: Known for its Opportunity Vanderbilt program, this school ensures all aid packages consist of grants and/or scholarships not requiring repayment.
Each school has a different formula for calculating need, so the amount of aid you may receive can vary. It's a good idea to research each school's specific financial aid policies and use their online Net Price Calculator to get a ballpark figure of what your family might be expected to contribute.
Remember, while these schools offer generous financial aid, most of them are also highly selective, so balance your college list with a mix of reach, match, and safety schools that are financially feasible.
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