The Most Generous Schools
The Most Generous Schools in America
The level of outstanding student loan debt in America is no secret and a growing issue. As of 2014 there was over $1.3 Trillion in outstanding student loans. These loans were spread across 44 Million borrowers with an average loan balance of over $37,000.
It is no secret that attending college is very expensive and most families will have to borrow money in order for their children to attend.
One thing that many families don’t realize — and it shouldn’t necessarily guide a students college choice — is that schools all have their own policies and formulas to determine how much they are willing to pay of a prospective students “initial family need” i.e. the sticker price Cost of attendance (COA) to attend a given school minus the expected family contribution (EFC). Many schools will pay for this unmet need of prospective students by offering FREE money i.e. grants that do not need to be repaid.
Based on a simple calculation (a schools willingness to meet a families initial need with FREE money, and not including a the portion of COA they assist with by providing access to student loans or work-study, we have developed a list of the most generous schools in the the country.
Top 15 Most Generous Schools
in 2015, there were thirty-seven schools that would pay at least 90% of a families initial financial need with FREE money, and 250 schools who will pay 74% or more.
The top 15 most generous schools in America utilizing the aforementioned methodology are as follows:
- The United States Military Academy (West Point) Paying 100% of financial need
- Pomona College 99%
- Amherst College 98%
- Colgate University 97%
- Vassar College 97%
- Vanderbilt University 96%
- Yale University 96%
- Claremont Mckenna College 96%
- Haverford College 96%
- Swarthmore College 96%
- Stanford University 95%
- Columbia University 95%
- Wellesley College 95%
- Williams College 95%
- Washington and Lee 94%
Our list of the 250 Most Generous Schools in America can be found here. As mentioned above, each of the schools on this list will pay at least 74% of a families initial family need (sticker price – EFC) with free money that does not need to be repaid.