How is the financial aid in liberal arts colleges? do they meet all needs like Ivies do (ivy schools have the best financial aid, since they have enough money themselves already, and our family only had to pay maybe 10k for columbia, our income is 80k)? Thank you!
There are so many liberal arts schools – in looking up financial aid possibilities in the ones I’m interested in, there’s a huge variation. Some colleges will meet all your demonstrated need – some really can’t, because they’re smaller. Some liberal arts colleges have a lot more money to give than others.
But some of them do give merit scholarships, which the Ivies and similar generally don’t.
Every college is different. Depending on the size and the endowment, their ability to cover your need varies. Also, keep in mind that they WAY they cover that need isn’t always ideal. They may include or count loans as “covering that need”.
@tensummers @TheDidactic I meant top colleges (preferrably Williams and Middlebury). sorry for the vague post!
Unless things have changed significantly since my day, ND and BC are not known for giving great financial aid.
According to Williams’ and Middlebury’s website, they both meet 100% full need. (http://finaid.williams.edu/) (http://www.middlebury.edu/admissions/finaid) Middlebury claims to be need-blind so it won’t affect the admissions process. So for example, say you needed financial aid, Middlebury wouldn’t reject you based on the reason that you needed money.
Apparently, Williams has a book grant where accepted Williams students do not have to pay for required books or course materials. (I am gauging that from this link (http://finaid.williams.edu/files/2015/03/2016_sample_award.pdf) off of this area (http://finaid.williams.edu/announcements/welcome-to-williams/) Correct me anyone if I’m wrong.) Williams says here (http://finaid.williams.edu/new-ephs-fapack/) that need is first met by on campus employment (so like work study?), then loan (your $5500) and then grants and scholarships.
Obviously, the best way for a college to meet need is a grant or scholarship. But chances are, grants will not be as renewable or available as scholarships. It will be based on a year-to-year thing, after you and your family refile your FAFSA and reapply for financial aid. Don’t know if Williams’ claim of being one of the most generous programs in the country is accurate but hey it’s something to consider. When in doubt, run net price calculators from the college website.
Regarding Middlebury, I’m not sure how they work.
Instead of asking people on the forums or relying on claims to meet full need (where “need” is school-defined and varies considerably from school to school), why not just go to the net price calculators on the school web sites? For example:
http://finaid.williams.edu/financial-aid-calculator/
http://www.middlebury.edu/offices/support/sfs/npc
http://ncfnetprice.com/
http://onestop.morris.umn.edu/aid/netpricecalculator/
http://netprice.truman.edu/
Agree 100% that there’s no substitute for firsthand research, and your links above are very helpful, especially for those who don’t realize that information is out there. That said, I think it’s reasonable for someone to come to CC looking for general guidance on what to expect, so long as they don’t rely on that as the final word.
With 80K in family income and reasonable assets (no second homes, no businesses), you would get significant grants at Williams. Run the calculator with real numbers. Your loan would be less than the max of 5500 for first years at that income level, probably $2500 or so, ask financial aid what the current policy is on that. You would never have to pay a dime for books or course packets which is a nice deal.
Holy Cross-meets 100% demonstrated financial need.
No one’s asking about Holy Cross.
Net cost for my son at Amherst would have been around $5,000 per year with a family income around $80,000…no significant assets and 4 other children
LACs have smaller student bodies; therefore, they can boast VERY impressive endowment per capita.
This is the LAC table. There are separate tables for private universities and for public universities.
Williams gives great aid, and it’s mostly in the form of grants.