personal finance

Here are the top public and private colleges with the most generous financial aid packages


The coronavirus crisis has put college affordability into focus like never before.

This year, because of the pandemic, the price of higher education is an even bigger consideration among students and parents. However, at the same time, the cost a four-year college or university has never been higher.

Tuition and fees, alone, reached $10,560 for in-state students at four-year public colleges in the 2020-21 academic year, and $37,650 for students at four-year private institutions, according to the College Board, which tracks trends in college pricing and student aid.

More from Personal Finance:
College can cost as much as $70,000 a year
Here’s what to do if you are waitlisted
Under Biden, free college could become a reality

“This year, due to Covid, students are making changes in the way they think about their college applications,” said Robert Franek, The Princeton Review’s editor-in-chief. “They are much more sensitive around cost and staying closer to home.”

To that end, The Princeton Review ranked colleges by how much financial aid is awarded and how satisfied students are with their packages. After nearly 20 years, the college admissions company also changed its criteria to include more in-state public schools. The report is based on data from its surveys of administrators at 650 colleges in 2019 and 2020, as well as students attending the schools.

“Never cross an expensive school off your list based on sticker price alone,” Franek said. “Financial aid is available and can make many, many schools so affordable.”

Top 5 public colleges for financial aid

University of Virginia in Charlottesville, Virginia.

Win McNamee | Getty Images

1. University of Virginia
Location: Charlottesville, Virginia
Sticker price (in-state): $29.983
Average need-based scholarship: $24,776
Total out-of-pocket cost: $5,207

2. University of North Carolina at Chapel Hill
Location: Chapel Hill, North Carolina
Sticker price (in-state): $20,515
Average need-based scholarship: $18,410
Total out-of-pocket cost: $2,105

3. Florida State University
Location: Tallahassee, Florida
Sticker price (in-state): $16,986
Average need-based scholarship: $13,033
Total out-of-pocket cost: $3,953

4. University of Michigan — Ann Arbor
Location: Ann Arbor, Michigan
Sticker price (in-state): $27,984
Average need-based scholarship: $21,665
Total out-of-pocket cost: $6,319

5. City University of New York — Hunter College
Location: Manhattan, New York
Sticker price (in-state): $21,098
Average need-based scholarship: $8,142
Total out-of-pocket cost: $12,956

Top 5 private colleges for financial aid

Rockefeller Hall at Vassar College in Poughkeepsie, New York

Education Images | Universal Images Group | Getty Images



READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.