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Colleges That Claim to Meet Full Financial Need

By U.S. News & World Report

For most parents, paying for college isn’t easy; but some schools offer enough institutional dollars to students to offset expensive sticker prices.

Many schools that report meeting the full financial need of students are private colleges and universities. For the 2015-2016 school year, only 66 colleges and universities out of 1,100 schools claimed to meet full financial need, according to data reported to U.S. News in an annual survey.

The amount given in financial need is usually decided by the information that a family provides on the Free Application for Federal Student Aid. On the FAFSA, families submit financial information such as income, tax data, assets and household size. From this information, a family’s estimated contribution is determined.

[Discover what you need to know about FAFSA changes.]

Financial awards from colleges and universities use a combination of loans, scholarships, grants and work-study to cover the gap between the total cost of attendance and the amount a family is expected to pay. A school that claims to meet 100 percent covers the gap entirely.

For the most part, National Liberal Arts Colleges represent the bulk of these schools that meet full demonstrated need with 40 schools in total, followed by National Universities with 25. Only one Regional University made the list: Walla Walla University in Washington.

[Discover the 2017 Best Value Schools.]

More than half of the schools that make this list are need blind: a policy that judges students on their merits, not on their ability to pay tuition. Some of the schools with this policy include Amherst College in Massachusetts, Yale University in Connecticut and Stanford University in California — to name a few.

Only two public universities — the University of Virginia and University of North Carolina–Chapel Hill — that are also National Universities reported meeting 100 percent of financial need. Both schools also practice need-blind admissions.

[Video: Finding a best value college.]

Several schools that don’t appear on the list were very close to meeting full need, including Johns Hopkins University in Maryland at 99.9 percent, SUNY Polytechnic Institute at 99 percent and the University of Florida at 99 percent.

Below are the colleges and universities that claimed to meet 100 percent of demonstrated financial need for full-time, degree-seeking undergraduates in fall 2015.

School name (state) U.S. News rank and category
Amherst College (MA) 2, National Liberal Arts Colleges
Barnard College (NY) 27 (tie), National Liberal Arts Colleges
Bates College (ME) 27 (tie), National Liberal Arts Colleges
Boston College 31, National Universities
Bowdoin College (ME) 6, National Liberal Arts Colleges
Brown University (RI) 14, National Universities
Bryn Mawr College (PA) 31, National Liberal Arts Colleges
California Institute of Technology 12 (tie), National Universities
Carleton College (MN) 7 (tie), National Liberal Arts Colleges
Claremont McKenna College (CA) 9 (tie), National Liberal Arts Colleges
Colby College (ME) 12 (tie), National Liberal Arts Colleges
Colgate University (NY) 12 (tie), National Liberal Arts Colleges
College of the Holy Cross (MA) 32 (tie), National Liberal Arts Colleges
Colorado College 24 (tie), National Liberal Arts Colleges
Columbia University (NY) 5 (tie), National Universities
Connecticut College 50, National Liberal Arts Colleges
Cornell University (NY) 15 (tie), National Universities
Dartmouth College (NH) 11, National Universities
Davidson College (NC) 9 (tie), National Liberal Arts Colleges
Duke University (NC) 8 (tie), National Universities
Franklin and Marshall College (PA) 47 (tie), National Liberal Arts Colleges
Georgetown University (DC) 20 (tie), National Universities
Grinnell College (IA) 19 (tie), National Liberal Arts Colleges
Hamilton College (NY) 12 (tie), National Liberal Arts Colleges
Harvard University (MA) 2, National Universities
Harvey Mudd College (CA) 21 (tie), National Liberal Arts Colleges
Haverford College (PA) 12 (tie), National Liberal Arts Colleges
Kenyon College (OH) 27 (tie), National Liberal Arts Colleges
Lafayette College (PA) 36 (tie), National Liberal Arts Colleges
Macalester College (MN) 24 (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) 36 (tie), National Liberal Arts Colleges
Northwestern University (IL) 12 (tie), National Universities
Oberlin College (OH) 24 (tie), National Liberal Arts Colleges
Occidental College (CA) 44 (tie), National Liberal Arts Colleges
Pomona College (CA) 7 (tie), National Liberal Arts Colleges
Princeton University (NJ) 1, National Universities
Rice University (TX) 15 (tie), National Universities
Salem College (NC) 122 (tie), National Liberal Arts Colleges
Scripps College (CA) 23, National Liberal Arts Colleges
Smith College (MA) 12 (tie), National Liberal Arts Colleges
Soka University of America (CA) 41 (tie), National Liberal Arts Colleges
Stanford University (CA) 5 (tie), National Universities
Swarthmore College (PA) 4 (tie), National Liberal Arts Colleges
Thomas Aquinas College (CA) 53 (tie), National Liberal Arts Colleges
Trinity College (CT) 38 (tie), National Liberal Arts Colleges
Tufts University (MA) 27 (tie), National Universities
Union College (NY) 38 (tie), National Liberal Arts Colleges
University of Chicago 3 (tie), National Universities
University of North Carolina–Chapel Hill 30, National Universities
University of Notre Dame (IN) 15 (tie), National Universities
University of Pennsylvania 8 (tie), National Universities
University of Richmond (VA) 27 (tie), National Liberal Arts Colleges
University of Southern California 23, National Universities
University of Virginia 24 (tie), National Universities
Vanderbilt University (TN) 15 (tie), National Universities
Vassar College (NY) 12 (tie), National Liberal Arts Colleges
Wake Forest University (NC) 27 (tie), National Universities
Walla Walla University (WA) 52 (tie), Regional Universities (West)
Washington and Lee University (VA) 11, National Liberal Arts Colleges
Washington University in St. Louis 19, National Universities
Wellesley College (MA) 3, National Liberal Arts Colleges
Wesleyan University (CT) 21 (tie), National Liberal Arts Colleges
Williams College (MA) 1, National Liberal Arts Colleges
Yale University (CT) 3 (tie), National Universities

The financial need data above are correct as of Sept. 19, 2016. For complete financial aid data, full rankings and much more, access the U.S. News College Compass.

More from U.S. News

College Financial Aid 101

What You Need to Know About FAFSA Changes

College Quiz: Do You Understand the FAFSA Filing Process?

Colleges That Claim to Meet 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
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