Skip to main content

10 Colleges Where Students Are Most Likely to Receive Merit Aid

By U.S. News & World Report

The U.S. News Short List, separate from our overall rankings, is a regular series that magnifies individual data points in hopes of providing students and parents a way to find which undergraduate or graduate programs excel or have room to grow in specific areas. Be sure to explore The Short List: College, The Short List: Grad School and The Short List: Online Programs to find data that matter to you in your college or grad school search.

You don’t need to qualify for need-based financial aid in order to get a discount on the cost of college.

Although some colleges only offer need-based awards, many colleges also offer merit aid.

[Learn strategies for students too rich for financial aid but too poor for college.]

Merit scholarships can lessen the burden of college tuition for families that do not qualify for need-based aid. In order to win these scholarships, students must either have outstanding academic accomplishments, such as high grades and test scores, or impressive extracurricular activities.

Colleges often use merit scholarships to lure high-achieving students. But some higher education experts criticize the practice of offering this kind of aid, arguing that the financial resources should go to needy students.

[Gain insight into how colleges make decisions about merit scholarships.]

At each of the 10 colleges where merit scholarships are awarded to the most students , more than 40 percent of full-time students in fall 2015 received merit awards without qualifying for need-based aid, according to data submitted to U.S. News in an annual survey. These colleges gave merit aid at a much higher rate than the average among the 1,100 ranked colleges that reported these data: 14.1 percent.

There are 17 ranked colleges that did not give any merit aid to full-time students in fall 2015, according to U.S. News data, including the U.S. Air Force Academy, which pays its cadets for their attendance. Some highly ranked colleges are on the list of schools that did not give any merit scholarships, including Princeton University, Middlebury College, Amherst College and Dartmouth College, to name just a few.

Many schools reserve merit aid for exceptional circumstances, such as the 220 ranked colleges where merit scholarships are awarded to less than 5 percent of full-time students.

Below is a list of the 10 ranked colleges where the highest percentage of full-time students in fall 2015 received merit aid. Unranked schools, which did not meet certain criteria required by U.S. News to be numerically ranked, were not considered for this report.

School name (state) Percentage of students who were awarded merit scholarships without demonstrating financial need in 2015-2016 U.S. News rank and category
Cooper Union (NY) 58.7% 1, Regional Colleges (North)
Rhodes College (TN) 53.1% 44 (tie), National Liberal Arts Colleges
Trinity University (TX) 50.8% 1, Regional Universities (West)
University of Puget Sound (WA) 47.8% 70 (tie), National Liberal Arts Colleges
Hillsdale College (MI) 47.0% 83 (tie), National Liberal Arts Colleges
Samford University (AL) 45.2% 4, Regional Universities (South)
Denison University (OH) 44.8% 51 (tie), National Liberal Arts Colleges
New School (NY) 43.2% 129 (tie), National Universities
Gonzaga University (WA) 42.5% 4, Regional Universities (West)
University of San Francisco 42.1% 107 (tie), National Universities

Don’t see your school in the top 10? Access the U.S. News College Compass to find merit aid data, complete rankings and much more. Sign up for the U.S. News Extra Help: College Admissions free email newsletter to receive expert advice twice a month .

U.S. News surveyed more than 1,800 colleges and universities for our 2016 survey of undergraduate programs. Schools self-reported myriad data regarding their academic programs and the makeup of their student body, among other areas, making U.S. News’ data the most accurate and detailed collection of college facts and figures of its kind. While U.S. News uses much of this survey data to rank schools for our annual Best Colleges rankings, the data can also be useful when examined on a smaller scale. U.S. News will now produce lists of data, separate from the overall rankings, meant to provide students and parents a means to find which schools excel, or have room to grow, in specific areas that are important to them. While the data come from the schools themselves, these lists are not related to, and have no influence over, U.S. News’ rankings of Best Colleges, Best Graduate Schools or Best Online Programs. The merit aid data above are correct as of July 18, 2017.

More from U.S. News

10 Ways to Nab a Scholarship to Pay for College

Discover Ways to Attend Classes or Earn a Degree for Free

Strategies for Students Too Rich for Financial Aid, Too Poor for College

Why High School Senior Year Matters for College Financial Aid

10 Colleges Where Students Are Most Likely to Receive Merit Aid 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