Which Schools Meet Full Need?
I've talked many times in the past about the importance of asking the right questions. When it comes to financial aid, the bottom-line question to ask is: What are my chances of getting my full financial need met? While all schools make a big deal about how affordable they can be after financial aid is factored in, the truth is very few colleges and universities actually meet full need for all students with financial need.
So, don't get sucked in when colleges tell you "we're need-blind - we won't consider your financial need in our decision!" That's fine and dandy, but if your chances are low of getting your financial need met, being need-blind won't help you if you can't afford to attend once you're admitted. Again, ask the right questions: What percentage of your students have 100% of their demonstrated financial need met? What is the percentage of student loans in the typical financial aid package? Will my financial aid package be likely to change in subsequent years? Do you use preferrential packaging in your financial aid offers?
Here is a list of colleges that promise to meet full demonstrated financial need of all admitted students -- keep in mind that even then "meeting full financial need" can mean different things at different schools. Some will include a smaller percentage of loans than others, some may have a different interpretation of what your "full need" is than you do. Still, these schools are probably the best bet for having your full financial need met.
A note: Although I have extracted this information from various reliable sources, financial aid policies do change. Please let me know if there is a college that should be on this list, or one that is inaccurately listed as meeting full need. Some are not need-blind in admissions. Additionally, keep in mind that there are additional schools that meet full need for very close to 100% of students that can also make good bets for students with financial need. International students, however, should note that not all of the colleges below have financial aid available for internationals, and others may not meet full need of international students.
Amherst (MA)
Antioch (OH)
Barnard (NY)
Bates (ME)
Beloit (WI)
Bowdoin (ME)
Brown (RI)
Bucknell (PA)
California Institute of Technology (CA)
Campbell University (NC)
Carleton (MN)
Chapman (CA)
Claremont McKenna (CA)
Clarke College (IA)
Colby (ME)
Colgate (NY)
College of the Holy Cross MA)
Columbia (NY)
Connecticut College
Cornell
Dartmouth
Davidson (NC)
Duke
Emory
Franklin and Marshall (PA)
Georgetown University (DC)
Gettysburg (PA)
Grinnell (IA)
Hamilton (NY)
Harvard
Harvey Mudd (CA)
Haverford (PA)
Lafayette (PA)
Lake Forest College (IL)
Lawrence University (WI)
Macalester (MN)
MIT
Middlebury (VT)
Mount Holyoke (MA)
Northwestern (IL)
Oberlin (OH)
Occidental (CA)
Pomona (CA)
Princeton
Rice
Salem College (NC)
Scripps (CA)
Smith College (MA)
Southern Arkansas University
Stanford
St. Olaf College (MN)
Swarthmore
Talladega College (AL)
Thomas Aquinas College (CA)
Trinity College (CT)
Tufts University
University of Chicago
University of Pennslyvania
University of Richmond
University of Virginia
Vassar
Wabash College (IN
Washington University in St. Louis
Wellesley College
Wesleay University
Williams Colelge
Yale University
posted by Carolyn Z. Lawrence at 6:29 PM
7 Comments:
Vanderbilt also meets 100% of financial need.
Vanderbilt comes very close, but does not guarantee to meet 100% of demonstrated need for all students.
According to Vanderbilt's Common Data Set (https://virg.vanderbilt.edu/virgweb/CDSH.aspx?year=2006), last year, 726 freshmen received financial aid, but only 700 had 100% of need met. For all undergraduates, 2618 Vanderbilt students received financial aid, but full need was met for only 2477.
Again, Vanderbilt is very close, and a good bet if you need financial aid, but it is incorrect to say they meet full need 100% of the time, at least according to their own data. Therefore, they did not make the list of schools which guarantee to meet full need.
However, as I have also mentioned, a family's definition of full need met can be different than an individual college's definition, due to the various institutional methodologies used in determining need and awarding aid.
you mean even admitted internationals students? if you take international student into consideration.. not all of the above schools meet full need : Cornell, Colgate, Hamilton, Emory, Haverford....
The list of colleges refers to those who meet full need for U.S. citizens, not international students. International students who are looking for a list of colleges which offer need-based aid to international students should see the list maintained by Doug Thompson on the Overseas Association for College Admissions Counseling (OACAC). Here's a link:
http://new.oacac.com/library/
The list, however, does not specify whether colleges promise to meet full need for international students. In the U.S., there are very few colleges and universities that make that promise. And, don't forget that financial aid is always based on your family's financial circumstances AS WEIGHTED by the individual university. Even the universities that do meet full need for international students, do not promise to meet YOUR FAMILY'S definition of need. Rather, they meet the university's definition based on the university's assessment of your family's ability to pay.
I was curious to see if you knew how much Pennsylvania State University gives out? Like the percentage in comparison to 100% of meeting financial need.
Chelsie,
I'm assuming you mean Penn State University Park. According to published data, here are some facts about Penn State's financial aid in the past.
- Percentage of students applying for financial aid: 74%
- Percentage of students who were determined to have need: 48%
- Of those determined to have need, the percentage who had their FULL need met by need-based aid: 6%
- Average amount of need-based loans for freshmen, excluding PLUS loans and private loans: $3,453
- Average debt on graduation for class of 2007 (excluding PLUS and private loans): $26,300 (The national average is around $20,000)
I can not agree with your including the University of Chicago on this list. My son was accepted and they offered only half of the COA-EFC. Which was also half of what they say on their website they will provide based upon income.
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