"The 12 best college financial aid policies"

Parents Forum
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<p>Amherst College. Amherst replaced loans with grants and work-study for all students in fall 2008. As a result, the share of students at Amherst who are poor enough to qualify for Pell grants has nearly doubled to 23 percent, surely one of the largest totals among top liberal arts schools.</p>

<p>Bowdoin College. Bowdoin, like Amherst, phased out loans for all students in fall 2008.</p>

<p>Claremont McKenna and Pomona colleges. These schools, the crown jewels of the Claremont Colleges system, phased out loans entirely in 2008. These pledges don’t just help poor students. Roger Huddle, a rising senior at Pomona with a household income approaching $100,000, has enough aid to cover about two-thirds of the full price of attendance. ”When they say no loans, they mean no loans,” he said in an interview.</p>

<p>Davidson College. Eliminated loans in all financial aid awards in 2007.</p>

<p>Harvard University. Possibly the most generous aid policy in higher education. Harvard phased out loans in 2008. And, in a unique “zero to 10” standard, the university pledges that families earning up to $180,000 (!) will pay, at most, 10 percent of their income toward college.</p>

<p>Haverford College. Phased out loans in aid awards in 2008.</p>

<p>Princeton University. Princeton was the first school to pare loans from some financial aid awards, in 1998. Since 2001, the policy has applied to all aid recipients.</p>

<p>Swarthmore College. Eliminated loans from aid awards in 2008.</p>

<p>University of Pennsylvania: Eliminated loans from aid packages in 2009.</p>

<p>Vanderbilt University. Eliminated loans from all need-based aid awards in 2009.</p>

<p>Yale University: Yale has retreated from an aid stance that once surpassed Harvard’s in largesse. Today, it meets full demonstrated need without loans, and caps the family contribution at 10 percent of income for families earning up to $130,000.

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<p>The</a> 12 best college financial aid policies - College, Inc. - The Washington Post</p>

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<p>Haverford has decided to phase loans back in.</p>

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<p>This does not sound very good. It is not close to full tuition. There are many others that are much better. I know at least 2 in our state.</p>

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<p>Seems like Berea ought to be #1.</p>

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<p>I don’t see phasing out of loans as a big deal. It mostly benefits upper-income students (who are not quite full-pay). Folks who could easily afford to have some skin in the game. With the exception of Amherst, the number of Pell Grant (low-income) students at any of these schools is very small, and (again with one or two exceptions), actually lower than it was 15 years ago.</p>

<p>And, yes, Berea should definitely be #1, likely followed by the College of the Ozarks.</p>

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<p>[US</a> Military Academy](<a href=“http://admissions.usma.edu/cadet_finances.html]US”>http://admissions.usma.edu/cadet_finances.html)
[US</a> Naval Academy](<a href=“http://webster-new.dmz.usna.edu/geninfo.htm]US”>http://webster-new.dmz.usna.edu/geninfo.htm)
[US</a> Air Force Academy](<a href=“http://academyadmissions.com/]US”>http://academyadmissions.com/)</p>

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<p>While I firmly believe that HYPS have the most generous FA policies in the country, the H & & statements cited above are extremely misleading as assets also affect FA packages and higher than ‘customary’ assets will increase EFC above the 10% of income level.</p>

<p>This looks like the typical newspaper article about college admissions/FA, a kernel of truth, but behind the times and/or lacking in detail.</p>

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<p>ucbalumnus–Different kind of pay back required!</p>

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<p>True – but the type of student at the academies is presumably someone who wants to enter military service.</p>

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<p>What does eliminating loan really mean? You can eliminate loan and still give out the same amount of aid, they just don’t say anything about direct loan in the package. When you turn around and say that you need some more help, they always say (at least in my case) that we can give you direct loan if you need more help.</p>

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<p>Good to know but very few will get in…</p>

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<p>What does it mean to have the “best college financial aid policies” if you systematically ensure that those who would benefit most from the policy (i.e. Pell Grant recipients) won’t get in?</p>

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<p>Our income put our S just out of Pell Grant reach, so the FA of Univ of Penn was a godsend for us. It’s actually cheaper for us to send him to Penn over UC Berkeley or UC Davis.</p>