Skip to main content

Colleges That Report Meeting Full Financial Need

By U.S. News & World Report

Lots of families can’t afford to pay the full sticker price that a college charges.

So, universities, especially private schools, are increasingly awarding institutional and federal dollars to help families chip away at their sometimes sky-high price tags.

Among them, a few dozen colleges and universities meet 100 percent of demonstrated financial need. That means that they use a combination of loans, scholarships, grants and work-study to fill the gap between the cost of attendance — room and board, tuition, fees and other expenses — and what a family can contribute.

[Discover how to determine whether a college is affordable for you.]

The amount a family can pay is typically determined by the information they provide on the Free Application for Federal Student Aid, including tax data, assets and family size. Some schools’ formulas may also include information not provided on the FAFSA.

Of the 1,136 colleges and universities that submitted financial need data to U.S. News, just 62 of them report covering full need for undergraduate students in fall 2014.

[Explore 10 tools that give you a tailored estimate of what you’ll pay for college.]

Most of the schools with this financial aid policy are highly ranked private colleges and universities. Among them are Princeton University, ranked No. 1 among National Universities, and Williams College, ranked first among National Liberal Arts Colleges.

Overall, nearly two-thirds of schools meeting full need for undergraduates rank within the top 20 of their categories. About one-third place in the top 10 of their categories.

[Discover the 2016 Best Value Schools.]

One group of schools nearly absent from this list is public universities. While they tend to have lower sticker prices than their private peers, just a couple of public schools meet full need, including the University of Virginia and University of North Carolina–Chapel Hill.

Below are the colleges and universities that claimed to meet 100 percent of demonstrated financial need for full-time, degree-seeking undergraduates in fall 2014.

School name (state) U.S. News rank and category
Amherst College (MA) 2, National Liberal Arts Colleges
Amridge University (AL) RNP, National Liberal Arts Colleges
Barnard College (NY) 29 (tie), National Liberal Arts Colleges
Bates College (ME) 25 (tie), National Liberal Arts Colleges
Boston College 30 (tie), National Universities
Bowdoin College (ME) 4 (tie), National Liberal Arts Colleges
Brown University (RI) 14, National Universities
Bryn Mawr College (PA) 25 (tie), National Liberal Arts Colleges
California Institute of Technology 10 (tie), National Universities
Carleton College (MN) 8, National Liberal Arts Colleges
Claremont McKenna College (CA) 9 (tie), National Liberal Arts Colleges
Colby College (ME) 19 (tie), National Liberal Arts Colleges
Colgate University (NY) 19 (tie), National Liberal Arts Colleges
College of the Holy Cross (MA) 32 (tie), National Liberal Arts Colleges
Colorado College 25 (tie), National Liberal Arts Colleges
Columbia University (NY) 4 (tie), National Universities
Connecticut College 48 (tie), National Liberal Arts Colleges
Cornell University (NY) 15 (tie), National Universities
Dartmouth College (NH) 12 (tie), National Universities
Davidson College (NC) 9 (tie), National Liberal Arts Colleges
Duke University (NC) 8, National Universities
Franklin and Marshall College (PA) 40 (tie), National Liberal Arts Colleges
Georgetown University (DC) 21 (tie), National Universities
Grinnell College (IA) 19 (tie), National Liberal Arts Colleges
Hamilton College (NY) 14 (tie), National Liberal Arts Colleges
Harvard University (MA) 2, National Universities
Haverford College (PA) 12 (tie), National Liberal Arts Colleges
Macalester College (MN) 23 (tie), National Liberal Arts Colleges
Massachusetts Institute of Technology 7, National Universities
Middlebury College (VT) 4 (tie), National Liberal Arts Colleges
Mount Holyoke College (MA) 35, National Liberal Arts Colleges
Northwestern University (IL) 12 (tie), National Universities
Oberlin College (OH) 23 (tie), National Liberal Arts Colleges
Occidental College (CA) 43 (tie), National Liberal Arts Colleges
Pitzer College (CA) 36, National Liberal Arts Colleges
Pomona College (CA) 4 (tie), National Liberal Arts Colleges
Princeton University (NJ) 1, National Universities
Rice University (TX) 18 (tie), National Universities
Salem College (NC) 136 (tie), National Liberal Arts Colleges
Scripps College (CA) 29 (tie), National Liberal Arts Colleges
Smith College (MA) 14 (tie), National Liberal Arts Colleges
Soka University of America (CA) 45 (tie), National Liberal Arts Colleges
Stanford University (CA) 4 (tie), National Universities
Swarthmore College (PA) 3, National Liberal Arts Colleges
Thomas Aquinas College (CA) 82 (tie), National Liberal Arts Colleges
Trinity College (CT) 43 (tie), National Liberal Arts Colleges
Tufts University (MA) 27 (tie), National Universities
University of Chicago 4 (tie), National Universities
University of North Carolina–Chapel Hill 30 (tie), National Universities
University of Notre Dame (IN) 18 (tie), National Universities
University of Pennsylvania 9, National Universities
University of Richmond (VA) 32 (tie), National Liberal Arts Colleges
University of Southern California 23 (tie), National Universities
University of Virginia 26, National Universities
Vanderbilt University (TN) 15 (tie), National Universities
Vassar College (NY) 12 (tie), National Liberal Arts Colleges
Washington and Lee University (VA) 14 (tie), National Liberal Arts Colleges
Washington University in St. Louis 15 (tie), National Universities
Wellesley College (MA) 4 (tie), National Liberal Arts Colleges
Wesleyan University (CT) 14 (tie), National Liberal Arts Colleges
Williams College (MA) 1, National Liberal Arts Colleges
Yale University (CT) 3, National Universities

The financial need data above are correct as of Sept. 14, 2015. For complete financial aid data, full rankings and much more, access the U.S. News College Compass.

More from U.S. News

Earning Too Much at Your Summer Job May Slash Financial Aid Eligibility

10 Questions to Ask Before Borrowing a Private Student Loan for College

10 Colleges Where Upperclassmen Get Less Financial Help

Colleges That Report Meeting Full Financial Need originally appeared on usnews.com

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
Read Next Story

Related News

Frustration grows in Venezuela as earthquake death toll reaches 1,430

Israel and Lebanon sign framework agreement with US in ‘first step’ toward peace, Rubio says

Trump-endorsed populist poised to become Colombia’s next president as rival challenges vote